Current:Home > StocksBiden to nominate Christy Goldsmith Romero as FDIC chair after abrupt departure of predecessor-InfoLens
Biden to nominate Christy Goldsmith Romero as FDIC chair after abrupt departure of predecessor
View Date:2024-12-23 16:03:57
NEW YORK (AP) — President Joe Biden will nominate Christy Goldsmith Romero to replace Martin Greunberg as head of the Federal Deposit Insurance Corporation.
The announcement from the White House on Thursday came after Gruenberg’s tenure became marred by allegations of workplace abuse that led to him to resign.
A longtime financial regulator, Goldsmith Romero is currently a commissioner at the Commodity Futures Trading Commission, the nation’s financial derivatives regulator, and previously worked with the Department of Treasury. She also is a law professor at Georgetown University.
Her previous nominations to the nation’s financial regulators were unanimously confirmed by the Senate.
“She has proven herself to be a strong, independent, and fair regulator who is not afraid to do what’s right,” said Sen. Sherrod Brown, D-Ohio and chair of the Senate Banking Committee, in a statement.
Gruenberg last month said he would resign from the FDIC, after an independent report by law firm Cleary Gottlieb Steen & Hamilton found incidents of stalking, harassment, homophobia and other violations of employment regulations, based on more than 500 complaints from employees.
Complaints included a woman who said she was stalked by a coworker and continually harassed even after complaining about his behavior; a field office supervisor referring to gay men as “little girls;” and a female field examiner who described receiving a picture of an FDIC senior examiner’s private parts.
Republicans have been calling for Gruenberg to step down since the allegations emerged late last year. The White House and Gruenberg resisted those calls partly because the FDIC is led by a five member board, and his resignation would pass control of the agency to the FDIC’s vice chair, who is a Republican. Gruenberg’s resignation would not be official until Goldsmith Romero nomination is finalized.
“FDIC employees deserve a safe workplace that allows them to focus on their important mission to safeguard our country’s financial security. Unfortunately, under the leadership of Chairman Gruenberg, that hasn’t been the case,” said Sen. Tim Scott, the ranking Republican on the Banking Committee, in a statement.
The FDIC is one of several U.S. banking system regulators. The Great Depression-era agency is best known for running the nation’s deposit insurance program, which insures Americans’ deposits up to $250,000 in case their bank fails.
veryGood! (454)
Related
- Britney Spears Reunites With Son Jayden Federline After His Move to Hawaii
- Stock market today: Asia stocks track Wall Street gains, Japan shares hit record high
- Oprah Winfrey says she's stepping down from WeightWatchers. Its shares are cratering.
- Assistant director says armorer handed gun to Alec Baldwin before fatal shooting of cinematographer
- Prosecutor failed to show that Musk’s $1M-a-day sweepstakes was an illegal lottery, judge says
- Run To Lululemon and Shop Their Latest We Made Too Much Drop With $29 Tanks and More
- A U.S. couple is feared dead after their boat was allegedly hijacked by escaped prisoners in the Caribbean. Here's what to know.
- Federal judge blocks Texas' immigration enforcement law SB 4: Here's what's next
- Who will be in the top 12? Our College Football Playoff ranking projection
- Missouri House passes property tax cut aimed at offsetting surge in vehicle values
Ranking
- 'Bizarre:' Naked man arrested after found in crawl space of California woman's home
- South Carolina lawmakers finally debate electing judges, but big changes not expected
- Some doorbell cameras sold on Amazon and other online sites have major security flaws, report says
- Chrysler recalls more than 338,000 Jeep Grand Cherokees over steering wheel issue
- Stocks soared on news of Trump's election. Bonds sank. Here's why.
- Dawson's Creek Alum James Van Der Beek Sings With Daughter Olivia on TV
- Fans compare Beyoncé's 'Texas Hold 'Em' to 'Franklin' theme song; composer responds
- Arizona’s new voting laws that require proof of citizenship are not discriminatory, a US judge rules
Recommendation
-
The results are in: Peanut the Squirrel did not have rabies, county official says
-
Democratic lawmakers ask Justice Department to probe Tennessee’s voting rights restoration changes
-
$5.5 billion in new Georgia spending will pay for employee bonuses, state Capitol overhaul
-
DOJ says Mississippi police unconstitutionally jailed people for unpaid fines
-
Bitcoin has topped $87,000 for a new record high. What to know about crypto’s post-election rally
-
Ex-NFL star Adrian Peterson's trophy auction suspended amid legal battle
-
Prince William condemns antisemitism at London synagogue: 'We can't let that keep going'
-
Caitlin Clark: Complete guide to basketball career of Iowa's prolific scorer and superstar