The Senate voted 68-29 today to confirm Scott Bessent as Treasury secretary, with Republicans and some Democrats voting in favor of the nomination. He succeeds Janet Yellen.
Bessent is the founder of investment firm Key Square Group and a former partner at Soros Fund Management. He appeared before the Senate Banking Committee earlier this month, where he called for less regulation on banks and voiced opposition to the U.S. creating a central bank digital currency.
In a statement, ABA President and CEO Rob Nichols congratulated Bessent on his confirmation.
“This administration has a great opportunity to increase growth and ensure that our economy continues to lead the world, and America’s banks stand ready to do their part,” Nichols said. “We will continue to advocate for commonsense policies that promote a rational regulatory framework that allows banks of all sizes to fully support the customers and communities they serve.”
