{mosads}Woodall never faced any major criticism from lawmakers, and had the strong backing of the insurance industry.
The American Insurance Association praised him as “uniquely qualified” for the spot following his confirmation.
“We look forward to Mr. Woodall being a strong voice in helping inform the other FSOC members on the distinctions between the property-casualty business model and other, bank-centric financial services,” the group said.
Woodall was nominated by the president in June, but not before several lawmakers publicly griped to the White House about that open spot. The FSOC got up and running in October 2010, and Woodall’s position was the only voting spot reserved for someone with insurance expertise.
The Senate Banking Committee approved Woodall’s nomination by a voice vote earlier in September, along with a handful of other nominees to various financial regulatory positions.