Biden to nominate Christy Goldsmith Romero to lead ‘toxic,’ scandal-ridden FDIC
NY Post
President Biden will nominate Christy Goldsmith Romero, a Democratic member of the Commodity Futures Trading Commission, to replace Martin Gruenberg as chair of the Federal Deposit Insurance Corporation, the White House said Thursday.
The intended nomination from the White House comes after Gruenberg, a Democrat, said in May he would step down once a successor is confirmed by the Senate. The FDIC chief succumbed 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 CFTC in March 2022 after a decade investigating financial crime and fraud as the watchdog of a key 2009 financial crisis bailout program.
The White House also said it plans to nominate Kristin Johnson, another Democratic CFTC Commissioner, to be the Treasury Department’s assistant secretary for financial institutions, a key role after three banks failed in 2023. Reuters reported on Wednesday their nominations were imminent, as the Biden administration pushes for first nomination hearings the week of July 8.
In progressive circles, Goldsmith Romero is seen as a strong fit for the FDIC role and as having the management experience and skill set necessary to help fix the agency’s “toxic” environment, as the investigation described the FDIC, and address other challenges.
