Obama picks Latino bank founder to head SBA

Reuters News
Posted: Jan 15, 2014 9:35 AM

WASHINGTON (Reuters) - President Barack Obama on Wednesday will nominate Maria Contreras-Sweet, who founded a Latino-owned community bank in Los Angeles, to lead the Small Business Administration, a White House official said.

The nomination will round out Obama's second-term Cabinet. Contreras-Sweet founded ProAmerica Bank and is the chair of the business. The Mexican-born Contreras-Sweet immigrated to the United States at a young age.

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John Stossel

(Reporting by Steve Holland; Editing by James Dalgleish)