The Honorable Wayne A. Abernathy
Wayne A. Abernathy was sworn in as Treasury Assistant Secretary for Financial Institutions on December 2, 2002.
As Assistant Secretary, Mr. Abernathy leads the Office of Financial Institutions in coordinating the Department’s efforts regarding financial institutions legislation and regulation, legislation affecting federal agencies that regulate or insure financial institutions, and securities markets legislation and regulation. He oversees Treasury’s newly created Terrorism Risk Insurance Program. He also is responsible for the promotion of consumer access and protection in financial services.
Mr. Abernathy also oversees the Office of Financial Education, the Community Development Financial Institutions Fund and the Office of Sallie Mae Oversight.
Mr. Abernathy brings more than 20 years of financial policy expertise to the position. Prior to joining the Treasury, he most recently served as Republican Staff Director of the U.S. Committee on Banking, Housing, and Urban Affairs, where he also served as committee Staff Director to Chairman Phil Gramm from 1999 until 2001. During his tenure as staff director, he worked on legislation including The Investor and Capital Markets Fee Relief Act, The Gramm-Leach-Bliley Act and The Commodity Futures Modernization Act of 2000.
Previous experience with the Senate Banking Committee includes serving as Staff Director of the Subcommittee on Securities during 1995-1998. From 1989 until 1994, Mr. Abernathy was a Republican economist for the committee. He previously worked as a senior legislative assistant for Senator Gramm during 1987-1989 and as an economist for the Banking Committee’s Subcommittee on International Finance and Monetary Policy during 1981-1986.
Mr. Abernathy earned his bachelor’s degree in International Studies from The Johns Hopkins University in 1978, graduating with honors. In 1980, he earned a master’s degree in International Economics, International Law and Organization, International Politics from the School of Advanced International Studies at The Johns Hopkins University. Mr. Abernathy is married with five children and resides in Fairfax, VA.