The US Senate is expected to confirm former Goldman Sachs banker Steven Mnuchin
Mr Mnuchin's appointment to Treasury signals the Trump administration's trust in bankers and other senior business executives after Democrat Barack Obama launched his presidency with career regulator Timothy Geithner running Treasury and a mandate to rein in Wall Street for its role in the 2007-2009 financial crisis.
Democrats, who boycotted Mr Mnuchin's approval by the Senate Finance Committee, are expected to vote against Mr Mnuchin. But no Republicans have declared opposition, setting the stage for a party-line 52-48 vote. The vote is set for around 0000 GMT.
Mr Mnuchin's focus will shift from defending his foreclosure record in the aftermath of the financial crisis to tackling major issues such as tax reform, financial services deregulation and international economic diplomacy as major trading partners fret over President Donald Trump's "America First" strategy.
Mr Mnuchin, 54, will need to build a team of officials quickly to handle a Group of 20 finance ministers meeting in March and make decisions on how far to roll back the Dodd-Frank Wall Street reform law enacted during the Obama administration with the aim of preventing a repeat of the financial crisis.
Mr Mnuchin's appointment to Treasury signals the Trump administration's trust in bankers
Treasury and White House representatives did not respond to requests for comment late yesterday on a Bloomberg report that President Trump would soon nominate David Malpass, a former economist at failed Wall Street bank Bear Stearns, as Treasury undersecretary for international affairs.
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Trump signs an order to review the Dodd-Frank Wall Street to roll back financial regulations of the Obama era.
Democrats, who boycotted Mr Mnuchin's approval, are expected to vote against him
Mr Malpass, a Trump campaign adviser who had been leading Treasury transition efforts, was seen as a leading candidate for the job, with experience from international economic posts in the Ronald Reagan and George Bush administrations.
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His role at Bear Stearns could set off a new round of protests from Democrats over his forecasts in 2007 dismissing the hazards building in credit markets that fueled the US housing collapse. Bear Stearns was the first major financial failure of the financial crisis in 2008.
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