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 15:32:41
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! (6)
Related
- Georgia State University is planning a $107M remake of downtown Atlanta
- U.S. Taxpayers on the Hook for Insuring Farmers Against Growing Climate Risks
- COVID flashback: On Jan. 30, 2020, WHO declared a global health emergency
- As electric vehicles become more common, experts worry they could pose a safety risk for other drivers
- Voters in Oakland oust Mayor Sheng Thao just 2 years into her term
- After Back-to-Back Hurricanes, North Carolina Reconsiders Climate Change
- Priscilla Presley and Riley Keough Settle Dispute Over Lisa Marie Presley's Estate
- Look Back on Adam Levine and Behati Prinsloo's Cutest Family Photos
- Garth Brooks wants to move his sexual assault case to federal court. How that could help the singer.
- New York City’s Solar Landfill Plan Finds Eager Energy Developers
Ranking
- 'Red One' review: Dwayne Johnson, Chris Evans embark on a joyless search for Santa
- U.S. Military Report Warns Climate Change Threatens Key Bases
- Introducing Golden Bachelor: All the Details on the Franchise's Rosy New Installment
- Job Boom in Michigan, as Clean Energy Manufacturing Drives Economic Recovery
- Olivia Culpo Celebrates Christian McCaffrey's NFL Comeback Alongside Mother-in-Law
- Four killer whales spotted together in rare sighting in southern New England waters
- Nicole Richie Shares Rare Glimpse of 15-Year-Old Daughter Harlow in Family Photo
- Why inventing a vaccine for AIDS is tougher than for COVID
Recommendation
-
Saks Fifth Avenue’s holiday light display in Manhattan changing up this season
-
Hollywood Foreign Press Association Awards $1 Million Grant to InsideClimate News
-
Florida police officer relieved of duty after dispute with deputy over speeding
-
This Amazingly Flattering Halter Dress From Amazon Won Over 10,600+ Reviewers
-
Michigan soldier’s daughter finally took a long look at his 250 WWII letters
-
Videos like the Tyre Nichols footage can be traumatic. An expert shares ways to cope
-
With Oil Sands Ambitions on a Collision Course With Climate Change, Exxon Still Stepping on the Gas
-
Why Olivia Wilde Wore a White Wedding Dress to Colton Underwood and Jordan C. Brown's Nuptials