Report: CFTC Commissioner to be Nominated as FDIC Leader

CFTC Commissioner

The Biden administration is reportedly planning to nominate Christy Goldsmith Romero as the next chairperson of the Federal Deposit Insurance Corporation (FDIC).

Goldsmith Romero is a Democratic commissioner at the Commodity Futures Trading Commission (CFTC). If confirmed, she would replace Martin Gruenberg, who announced he would resign following an investigation that found he encouraged an environment of sexual harassment, discrimination and bullying within the FDIC.

According to a Reuters report sourced from an unnamed “person with direct knowledge of the matter,” the administration is working to arrange a Senate confirmation hearing for Goldsmith Romero during the week of July 8, ahead of the summer recess that lasts from mid-July through Labor Day and the autumn election campaign season when many senators will not be present in Washington.

Kristin Johnson, another Democratic commissioner on the CFTC, is reportedly in line to be nominated for Assistant Secretary for Financial Institutions at the Treasury Department at the same time. An announcement on the nominations could come as early as today.

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