Senate Panel Will Examine Four Key Finance Nominations

Why it Matters

Four nominees spanning housing finance, Treasury investment policy, and export credit are set to face questions from the Senate Banking, Housing, and Urban Affairs Committee on October 1 at a hearing examining the nominations of Jeremy Wiggins to be an Assistant Secretary of the Treasury, Matthew Jones to be an Assistant Secretary of Housing and Urban Development (HUD), and David Slade and Michael Rigas to serve as First Vice President and board member, respectively, of the Export-Import Bank of the United States (EXIM). The Federal Housing Administration (FHA) is in the middle of its first overhaul of Minimum Property Requirements (MPR) in more than 20 years, and EXIM requires a quorum of at least three board members to approve transactions, with two seats still unfilled. The hearing is chaired by Sen. Tim Scott (R-SC), with Sen. Elizabeth Warren (D-MA) serving as ranking member.

Broader Context

Jones's nomination arrives as the FHA's proposed MPR rewrite moves through public comment, with industry outlets reporting that lenders are actively preparing for potential loosening of FHA property standards. HUD also announced 14 FHA policy changes in June aimed at reducing regulatory burdens for homebuyers and lenders. Slade was nominated on July 14, and Rigas on August 7, 2026. Rigas's term as Deputy Secretary of State for Management and Resources ended September 18, 13 days before the hearing. A bill introduced in the 119th Congress, H.R. 10165, would permanently reform EXIM's quorum requirements to ensure continuity of operations. Wiggins, nominated to be an Assistant Secretary of the Treasury, currently serves as Deputy Assistant Secretary for Investment, Energy, and Infrastructure; his nomination was formally received by the committee on September 14.

The Bottom Line

All four nominations were formally submitted to the Senate within the past 10 weeks, arriving against a backdrop of active FHA rulemaking and ongoing concerns about the Export-Import Bank's board quorum capacity. The hearing is scheduled for October 1, and can be tracked at app.legis1.com.