Wolin to temporarily take top slot at Treasury

Democrats expect Lew to win confirmation, though at least one prominent Republican, Sen. Jeff Sessions (Ala.), and a member of the Democratic Caucus, Sen. Bernie Sanders (I-Vt.), have announced they will oppose the nomination. Top Democrats like Sens. Chuck Schumer (N.Y.) and Max Baucus (Mont.), the Finance Committee chairman, have already announced their support for Lew. 

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Geithner is exiting as Congress is dealing with the debt ceiling, though the Senate appears likely to take up a House GOP measure to take the debt limit off the table until at least May. 

Wolin, in addition to his four years as deputy Treasury secretary under Obama, also served under Robert Rubin and Larry Summers at Treasury during the Clinton administration.

He has been Treasury's lead defender of both the Dodd-Frank overhaul of financial regulations and its implementation. 

"There will, of course, continue to be disagreements and opposition as we move forward. There will be critics and naysayers. But those who are charged with implementing reform have not forgotten why we needed reform," Wolin said in a 2011 speech. "We needed reform because we can’t afford another crisis."

This post was updated at 2:20 p.m.