Community Bankers Join Opposition to Treasury Nominee
Community bankers are raising concerns about President Barack Obama’s pick for Treasury Under Secretary for Domestic Finance, investment banker Antonio Weiss. Camden Fine, president of community banking trade group ICBA has expressed “serious concerns” with the nomination. Fine said he’s worried Mr. Weiss, an experienced Wall Street deal maker, doesn’t understand the needs of small and mid-size banks. The opposition adds to mounting pressure against Weiss’ nomination. Two prominent Democrats, Sen. Elizabeth Warren (D-Mass.) and Senate Majority Whip Richard Durbin (D-Ill.), have publicly said they will oppose Weiss, citing his involvement in a tax inversion deal which allowed Burger King to reincorporate abroad and cut its tax bill.