According to a Reuters source, the White House plans to nominate Goldsmith Romero soon with a hearing in July
A person with direct knowledge of the subject said on Wednesday that the White House is set to propose markets regulator Christy Goldsmith Romero as chair of the Federal Deposit Insurance Corporation. Her initial hearing is scheduled for the week of July 8.
Democratic commissioner Goldsmith Romero of the Commodity Futures Trading Commission will succeed Martin Gruenberg, who is resigning following the discovery of pervasive sexual harassment and other wrongdoing at the top banking regulator by a damning investigation.
Only six months before the US presidential election, the White House is scrambling to fill the position in order to implement US President Joe Biden's regulatory program, which includes significant increases in bank capital.
The Democratic Senate Banking Committee chair Sherrod Brown, who oversees the advancement of FDIC nominations, and administration officials have expressed a desire to proceed quickly, but they have not specified when hearings are scheduled.
According to the same source, Kristin Johnson, the other Democratic commissioner on the CFTC who was also a candidate for the position of FDIC chair, will be nominated simultaneously for Assistant Secretary for Financial Institutions at the Treasury Department.
The White House remained silent. A request for comment made outside of business hours was not immediately answered by representatives for Brown, Treasury, or the FDIC. A CFTC representative declined to provide a statement.
According to the source, Johnson's hearing will be concurrently with Goldsmith Romero's. Before Gruenberg gave in to political pressure and resigned last month, she was being considered for the Treasury position.
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