WASHINGTON — President Reagan said Friday that he was making two recess appointments to the Federal Home Loan Bank Board, an agency that has lacked a quorum to make policy decisions for the last three weeks.
Reagan said he was using his power to temporarily bypass the Senate confirmation process and immediately put Lee Henkel Jr. and Lawrence J. White on the board, which regulates the nation's savings and loan industry.
Henkel, an Atlanta attorney and businessman, will succeed Donald I. Hovde. White, an economics professor at New York University's graduate school of business, replaces Mary A. Grigsby.
Hovde and Grigsby announced plans to leave the board last spring, but the White House was unable to decide on their replacements before the two resigned. That left Edwin J. Gray, chairman of the bank board, as the only member of the three-member board.