Biden nominates Goldsmith Romero to head FDIC banking regulator

By Ovunc Kutlu

ISTANBUL (AA) - US President Joe Biden on Thursday nominated Christy Goldsmith Romero to chair the Federal Deposit Insurance Corporation (FDIC), the top regulatory agency responsible for the American banking industry.

FDIC Chair Martin Gruenberg said last month he would resign from his office after an independent investigation in April found widespread hostile and abusive conduct, sexual harassment and discrimination at the agency.

Goldsmith Romero has more than 20 years of experience as a career federal attorney and leader in financial regulation, serving under four US presidents, the White House said in a statement.

She has been serving as a commissioner at the Commodity Futures Trading Commission (CFTC) since March 2022, while she previously served 12 years at the Treasury Department.

Biden also nominated Kristin Johnson for assistant secretary for Financial Institutions at the Treasury Department. Johnson also currently serves as a commissioner at the CFTC.

The president, in addition, nominated Caroline Crenshaw to be a member of the Securities and Exchange Commission (SEC), and Gordon Ito to be a member of the Financial Stability Oversight Council.

Crenshaw was sworn in as a commissioner of the SEC in August 2020, while Ito serves as the insurance commissioner for the state of Hawaii, according to the White House.

The nominees must be approved by the US Senate.