Biden nominates Christy Goldsmith Romero to lead FDIC at pivotal time for the banking regulator

President Joe Biden has nominated a new chair for the Federal Deposit Insurance Corporation (FDIC). The current chair, Martin Gruenberg, plans to resign once a successor is confirmed by the Senate. An independent investigation recently exposed pervasive sexual harassment, discrimination, and bullying within the FDIC. The nominee, Christy Goldsmith Romero, previously served as the special inspector general for the Troubled Asset Relief Program. She has extensive experience in financial regulation and has been confirmed by the Senate twice before. The new FDIC chair will be tasked with addressing the agency’s longstanding problematic culture. The investigation confirmed reports of sexual misconduct, including explicit messages and unwelcome advances, as well as unequal treatment of minorities and women. Gruenberg’s decision to vacate his position has sparked controversy, with Republicans accusing it of being politically motivated.