Under Secretary for Domestic Finance
Encyclopedia
The Under Secretary of the Treasury for Domestic Finance is a high-ranking position within United States Department of the Treasury
United States Department of the Treasury
The Department of the Treasury is an executive department and the treasury of the United States federal government. It was established by an Act of Congress in 1789 to manage government revenue...

 that reports to, advises, and assists the Secretary of the Treasury
United States Secretary of the Treasury
The Secretary of the Treasury of the United States is the head of the United States Department of the Treasury, which is concerned with financial and monetary matters, and, until 2003, also with some issues of national security and defense. This position in the Federal Government of the United...

 and the Deputy Secretary of the Treasury
United States Deputy Secretary of the Treasury
The Deputy Secretary of the Treasury, in the United States government, advises and assists the Secretary of the Treasury in the supervision and direction of the Department of the Treasury and its activities, and succeeds the Secretary in his absence, sickness, or unavailability...

. The Under Secretary leads the Department's policy on the issues of domestic finance, fiscal policy, fiscal operations, government assets, government liabilities, and other related economic and fiscal matters.

The current Under Secretary is Jeffrey Goldstein, a wall street private equity banker, who has served in that position since President Barack Obama
Barack Obama
Barack Hussein Obama II is the 44th and current President of the United States. He is the first African American to hold the office. Obama previously served as a United States Senator from Illinois, from January 2005 until he resigned following his victory in the 2008 presidential election.Born in...

 installed him with a recess appointment
Recess appointment
A recess appointment is the appointment, by the President of the United States, of a senior federal official while the U.S. Senate is in recess. The U.S. Constitution requires that the most senior federal officers must be confirmed by the Senate before assuming office, but while the Senate is in...

 on March 27, 2010. Goldstein's appointment is still awaiting confirmation before the United States Senate
United States Senate
The United States Senate is the upper house of the bicameral legislature of the United States, and together with the United States House of Representatives comprises the United States Congress. The composition and powers of the Senate are established in Article One of the U.S. Constitution. Each...

.

Overview

The Under Secretary has oversight of the Assistant Secretary of the Treasury for Financial Institutions
Assistant Secretary of the Treasury for Financial Institutions
The Assistant Secretary of the Treasury for Financial Institutions is an official in the United States Department of the Treasury who is the head of the Office of Financial Institutions. The office has been vacant since January 2010 when Michael Barr left office.According to U.S...

, the Assistant Secretary for Financial Markets, the Deputy Assistant Secretary for Community Development Policy, the Director of the Community Development Financial Institutions Fund
Community Development Financial Institutions Fund
The Community Development Financial Institutions Fund, or CDFI Fund, promotes economic revitalization in distressed communities throughout the United States by providing financial assistance and information to community development financial institutions...

, the Bureau of the Public Debt
Bureau of the Public Debt
The Bureau of the Public Debt is an agency within the Fiscal Service of the United States Treasury Department. Under authority derived from Article I, section 8 of the Constitution, Public Debt is responsible for borrowing the money needed to operate the federal government, and is where donations...

, and the Fiscal Assistant Secretary. The Under Secretary receives reports from the Fiscal Assistant Secretary on the Financial Management Service
Financial Management Service
The Financial Management Service is a bureau of the United States Department of the Treasury and provides several financial services for the federal government...

.

List of Under Secretaries of the Treasury for Domestic Finance (Incomplete)

Name Assumed Office Left Office President
President of the United States
The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....

 Appointed By
Secretary
United States Secretary of the Treasury
The Secretary of the Treasury of the United States is the head of the United States Department of the Treasury, which is concerned with financial and monetary matters, and, until 2003, also with some issues of national security and defense. This position in the Federal Government of the United...

 Served Under
Frank N. Newman
Frank N. Newman
Frank Neil Newman is a United States banker who served as Under Secretary of the Treasury for Domestic Finance from 1993 to 1994 and as United States Deputy Secretary of the Treasury from 1994 to 1995.-Biography:...

1993 1994 Bill Clinton
Bill Clinton
William Jefferson "Bill" Clinton is an American politician who served as the 42nd President of the United States from 1993 to 2001. Inaugurated at age 46, he was the third-youngest president. He took office at the end of the Cold War, and was the first president of the baby boomer generation...

Lloyd Bentsen
Lloyd Bentsen
Lloyd Millard Bentsen, Jr. was a four-term United States senator from Texas and the Democratic Party nominee for Vice President in 1988 on the Michael Dukakis ticket. He also served in the House of Representatives from 1949 to 1955. In his later political life, he was Chairman of the Senate...

John D. Hawke, Jr.
John D. Hawke, Jr.
John D. Hawke served as the United States Comptroller of the Currency from 1998 to 2004.John D. Hawke, Jr., was born in New York City on June 26, 1933. He was graduated from Yale University in 1954 with a B.A. in English. From 1955 to 1957 he served on active duty with the U.S...

1995 1998 Bill Clinton
Bill Clinton
William Jefferson "Bill" Clinton is an American politician who served as the 42nd President of the United States from 1993 to 2001. Inaugurated at age 46, he was the third-youngest president. He took office at the end of the Cold War, and was the first president of the baby boomer generation...

Robert Rubin
Robert Rubin
Robert Edward Rubin served as the 70th United States Secretary of the Treasury during both the first and second Clinton administrations. Before his government service, he spent 26 years at Goldman Sachs eventually serving as a member of the Board, and Co-Chairman from 1990-1992...

Gary Gensler
Gary Gensler
Gary Gensler is the chairman of the U.S. Commodity Futures Trading Commission under President Barack Obama.Gensler was Undersecretary of the Treasury and Assistant Secretary of the Treasury in the United States. Barack Obama selected him to lead the Commodity Futures Trading Commission, which has...

1999 2001 Bill Clinton
Bill Clinton
William Jefferson "Bill" Clinton is an American politician who served as the 42nd President of the United States from 1993 to 2001. Inaugurated at age 46, he was the third-youngest president. He took office at the end of the Cold War, and was the first president of the baby boomer generation...

Lawrence Summers
Lawrence Summers
Lawrence Henry Summers is an American economist. He served as the 71st United States Secretary of the Treasury from 1999 to 2001 under President Bill Clinton. He was Director of the White House United States National Economic Council for President Barack Obama until November 2010.Summers is the...

Peter R. Fisher
Peter R. Fisher
Peter R. Fisher is a United States banker who was Under Secretary of the Treasury for Domestic Finance from 2001 to 2004.-Biography:Peter R. Fisher was educated at Concord Academy in Massachusetts and then at Harvard College, where he received a B.A. in History in 1980. He graduated from Harvard...

2001 2004 George W. Bush
George W. Bush
George Walker Bush is an American politician who served as the 43rd President of the United States, from 2001 to 2009. Before that, he was the 46th Governor of Texas, having served from 1995 to 2000....

Paul O'Neill, John W. Snow
John W. Snow
| image=John W. Snow.jpg|imagesize = 250px| order=73rd| title=United States Secretary of the Treasury| term_start=February 3, 2003| term_end=June 28, 2006| predecessor=Paul O'Neill| successor=Henry Paulson| birth_date=| birth_place=Toledo, Ohio...

Brian C. Roseboro
Brian C. Roseboro
Brian Carlton Roseboro is a United States banker who was Assistant Secretary of the Treasury for Financial Markets from 2001 to 2004 and Under Secretary of the Treasury for Domestic Finance from 2004 to 2005.-Biography:...

2004 2005 George W. Bush
George W. Bush
George Walker Bush is an American politician who served as the 43rd President of the United States, from 2001 to 2009. Before that, he was the 46th Governor of Texas, having served from 1995 to 2000....

John W. Snow
John W. Snow
| image=John W. Snow.jpg|imagesize = 250px| order=73rd| title=United States Secretary of the Treasury| term_start=February 3, 2003| term_end=June 28, 2006| predecessor=Paul O'Neill| successor=Henry Paulson| birth_date=| birth_place=Toledo, Ohio...

Randal Quarles
Randal Quarles
Randal Keith Quarles is a managing director at The Carlyle Group, one of the world’s largest private equity firms. From August 2001 until October 2006, he held several important financial policy posts in the George W. Bush administration, ultimately serving as Under Secretary of the Treasury for...

August 8, 2005 October 13, 2006 George W. Bush
George W. Bush
George Walker Bush is an American politician who served as the 43rd President of the United States, from 2001 to 2009. Before that, he was the 46th Governor of Texas, having served from 1995 to 2000....

John W. Snow
John W. Snow
| image=John W. Snow.jpg|imagesize = 250px| order=73rd| title=United States Secretary of the Treasury| term_start=February 3, 2003| term_end=June 28, 2006| predecessor=Paul O'Neill| successor=Henry Paulson| birth_date=| birth_place=Toledo, Ohio...

, Henry Paulson
Henry Paulson
Henry Merritt "Hank" Paulson, Jr. is an American banker who served as the 74th United States Secretary of the Treasury. He previously served as the Chairman and Chief Executive Officer of Goldman Sachs.-Early life and family:...

Robert K. Steel
Robert K. Steel
Robert King "Bob" Steel is an American business leader and an expert on financial institutions and markets. In June 2010, he was named Deputy Mayor for Economic Development by New York City Mayor Michael Bloomberg...

October 10, 2006 July 9, 2008 George W. Bush
George W. Bush
George Walker Bush is an American politician who served as the 43rd President of the United States, from 2001 to 2009. Before that, he was the 46th Governor of Texas, having served from 1995 to 2000....

Henry Paulson
Henry Paulson
Henry Merritt "Hank" Paulson, Jr. is an American banker who served as the 74th United States Secretary of the Treasury. He previously served as the Chairman and Chief Executive Officer of Goldman Sachs.-Early life and family:...

Anthony Ryan
Anthony Ryan (Treasury official)
Anthony Ryan is a United States banker who was Assistant Secretary of the Treasury for Financial Markets from 2006 to 2008 and Acting Under Secretary of the Treasury for Domestic Finance from 2008 to 2009.-Biography:...

 (Acting)
July 2008 2009 George W. Bush
George W. Bush
George Walker Bush is an American politician who served as the 43rd President of the United States, from 2001 to 2009. Before that, he was the 46th Governor of Texas, having served from 1995 to 2000....

Henry Paulson
Henry Paulson
Henry Merritt "Hank" Paulson, Jr. is an American banker who served as the 74th United States Secretary of the Treasury. He previously served as the Chairman and Chief Executive Officer of Goldman Sachs.-Early life and family:...

Michael Barr
Michael Barr (Treasury official)
Michael S. Barr is a professor of law at the University of Michigan Law School. Previously he served as Assistant Secretary for Financial Institutions of the U.S...

 (Acting)
2009 2009 George W. Bush
George W. Bush
George Walker Bush is an American politician who served as the 43rd President of the United States, from 2001 to 2009. Before that, he was the 46th Governor of Texas, having served from 1995 to 2000....

Henry Paulson
Henry Paulson
Henry Merritt "Hank" Paulson, Jr. is an American banker who served as the 74th United States Secretary of the Treasury. He previously served as the Chairman and Chief Executive Officer of Goldman Sachs.-Early life and family:...

Jeffrey A. Goldstein
Jeffrey A. Goldstein
Jeffrey A. Goldstein is a United States banker who has been Under Secretary of the Treasury for Domestic Finance since March 27, 2010.-Biography:...

March 27, 2010 Present Barack Obama
Barack Obama
Barack Hussein Obama II is the 44th and current President of the United States. He is the first African American to hold the office. Obama previously served as a United States Senator from Illinois, from January 2005 until he resigned following his victory in the 2008 presidential election.Born in...

Timothy Geithner


The most recent Senate-confirmed Under Secretary was Robert K. Steel
Robert K. Steel
Robert King "Bob" Steel is an American business leader and an expert on financial institutions and markets. In June 2010, he was named Deputy Mayor for Economic Development by New York City Mayor Michael Bloomberg...

, who resigned in July, 2008 to become Wachovia Bank CEO.
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