Senate Committee Chair Pledges to Accelerate FDIC Nominee Confirmation Process

The bank regulation agency position may receive greater review and evaluation than the nominee’s previous role.

President Joe Biden has nominated Christy Goldsmith Romero to be the next chair of the Federal Deposit Insurance Corporation (FDIC). The president has urged the Senate to facilitate her confirmation. If the Senate were to hold her first nomination hearing by July 8, it might allow her to begin leading the scandal-ridden bank policy agency by the end of the year.

When Goldsmith Romero was confirmed by the Senate for her current position as a Commodity Futures Trading commissioner, she passed both rounds of voting unanimously. However, the role of the chair of the FDIC is to implement all federal banking regulations, and experts anticipate the confirmation process may receive greater scrutiny, as some detractors question her level of banking experience.

Senator Sherrod Brown of Ohio, chair of the Senate Banking Committee, has pledged to move quickly in scheduling the confirmation hearings.

As the Lord Leads, Pray with Us…

  • For Senator Brown and members of the committee as they prepare to hold the confirmation hearings.
  • For the president and his advisors as they assess individuals to nominate for federal positions.

Sources: Reuters, Punchbowl News, American Banker


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