Biden taps CFTC commissioner Goldsmith Romero to lead scandal-hit FDIC

WASHINGTON, June 13 (Reuters) – U.S. President Joe Biden will nominate Christy Goldsmith Romero, a Democratic member of the Commodity Futures Trading Commission (CFTC), to replace Martin Gruenberg as chair of the Federal Deposit Insurance Corporation (FDIC), the White House said on Thursday.

The intended nomination from the White House comes after Gruenberg, a Democrat, said in May he would step down once a successor is confirmed by the Senate. The FDIC chief succumbed to pressure from lawmakers who said the bank regulator needed fresh leadership after an investigation found widespread sexual harassment and other misconduct at the agency.