Editor’s note: This story is developing and will be updated.
The White House on Thursday Christy Goldsmith Romero He succeeded Martin Grunberg as chairman of the Federal Deposit Insurance Corporation.
Goldsmith Romero is He was unanimously confirmed by the Senate and will serve as a commissioner of the Commodity Futures Trading Commission starting in March 2022. Prior to that, He worked at the Ministry of Finance for 12 years. Special Inspector General for the Troubled Asset Relief Program; According to a statement from the White House.
Since his law firm closed, Gruenberg has faced calls for him to resign, mainly from Republicans but also from key Democrats such as Sen. Sherrod Brown of Ohio. Cleary Gottlieb releases report Last month, I detailed an environment of sexual harassment and discrimination at the FDIC.
Allegations that the FDIC tolerated a toxic culture and ongoing misconduct have dogged the agency for years. Intensified in NovemberCleary Gottlieb’s report came about a week ago after The Wall Street Journal published an exposé featuring interviews with dozens of employees. Before Grunberg He testified at a semi-annual hearing aimed at highlighting the agency’s activities.
Grunberg said last month. He will resign If approved, his replacement would maintain the FDIC’s Democratic majority; This could pave the way for the passage of a controversial overhaul of capital requirements.
in Thursday’s statementBrown said Goldsmith Romero has “proven herself to be a strong, independent and fair regulator who is not afraid to do the right thing. I urge the entire Banking and Housing Committee, Senate Leadership and the entire Senate to act swiftly to bring new leadership to the FDIC during this challenging time.”
Goldsmith Romero must be ready to “take immediate action” in implementing Cleary Gottlieb’s recommendations regarding the FDIC’s culture. Chairman of the House Financial Services Committee Senator Patrick McHenry (Republican, North Carolina) in a statement on Thursday.
“If confirmed, Christy Goldsmith Romero will need to immediately begin taking steps to reverse the harmful culture overseen by Grunberg and rebuild trust among the FDIC’s employees and management.” McHenry said in a statement.“The Senate must expedite his confirmation process to prevent Chairman Grunberg from further damaging the Treasury Department and endangering its fiscal stability.”
