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SouthBayDem

(32,188 posts)
Mon Jun 10, 2024, 11:36 PM Monday

White House close to tapping Goldsmith Romero to head FDIC, WSJ reports

Source: Reuters

WASHINGTON, June 10 (Reuters) - The White House is close to naming derivatives regulator Christy Goldsmith Romero to replace Martin Gruenberg to head the Federal Deposit Insurance Corp, the Wall Street Journal reported on Monday, citing people familiar with the matter.

Gruenberg, a Democrat, said in May he would step down once a successor was confirmed by the Senate, succumbing to pressure from lawmakers who said the bank regulator needed fresh leadership after an investigation found widespread sexual harassment and other misconduct at the agency.

Goldsmith Romero, 53, has a background in enforcement and has led major actions against Wall Street banks and other financial firms during her career. She joined the Commodity Futures Trading Commission in March 2022 after a decade investigating financial crime and fraud as the watchdog of a key 2009 financial crisis bailout program.

White House officials have also discussed two other women for the job, but Goldsmith Romero has emerged as the front-runner, the newspaper said. A formal announcement could come later this week, according to the report, though it said that President Joe Biden had not yet made a final decision.

Read more: https://www.reuters.com/world/us/white-house-close-tapping-christy-goldsmith-romero-head-fdic-wsj-reports-2024-06-10/



Original WSJ article (gift link), White House Prepares to Tap Derivatives Regulator to Oversee FDIC:

The White House is close to naming derivatives regulator Christy Goldsmith Romero to head the Federal Deposit Insurance Corp., replacing the beleaguered banking agency’s longtime chairman Martin Gruenberg.

Gruenberg bowed to pressure to resign from the FDIC in May after an external investigation found widespread sexual harassment and other misconduct at the agency and lawmakers in both parties berated his leadership. He said he would step down after a successor is confirmed by the Senate.

White House officials have also discussed two other women for the job, but Goldsmith Romero has emerged as the front-runner, according to people familiar with the matter. A formal announcement could come later this week, though President Biden hasn’t made a final decision, the people said.

Goldsmith Romero is currently a Democratic member of the Commodity Futures Trading Commission, where she has served since March 2022. She previously served as a special inspector general for the financial-crisis-era Troubled Asset Relief Program at the Treasury Department.
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