President Joe Biden on Thursday said he would nominate Christy Goldsmith Romero to be chair of the Federal Deposit Insurance Corporation to replace the embattled Martin Gruenberg.
Romero, a member of the Commodity Futures Trading Commission, would take over an agency that has been in the spotlight for months due to allegations of a toxic workplace culture. In a May 20 statement, Gruenberg said he would step down as soon as a replacement is confirmed by the Senate.
Romero is one of two CFTC officials included among four nominees announced by the White House. Kristin N. Johnson, who also is a CFTC commissioner, will be nominated as assistant Treasury secretary for financial institutions. The president also plans to nominate Gordon I. Ito as a member of the Financial Stability Oversight Council and to renominate Caroline A. Crenshaw as a Securities and Exchange Commission member.
