CFTC Commissioner Christy Goldsmith Romero could replace Martin Gruenberg after allegations of a toxic workplace culture at the FDIC.
United States President Joe Biden will shake up leadership at financial regulators with his most recent picks for the Securities and Exchange Commission (SEC), Federal Deposit Insurance Corporation (FDIC), Treasury Department and Financial Stability Oversight Council.
In a June 13 announcement, the White House said President Biden intended to nominate Christy Goldsmith Romero of the Commodity Futures Trading Commission (CFTC) to replace FDIC Chair Martin Gruenberg. He also plans to have CFTC Commissioner Kristin Johnson become the next Assistant Secretary for Financial Institutions at the Treasury Department and for Caroline Crenshaw to remain a commissioner at the SEC.
Romero has been serving as a CFTC commissioner since March 2022 after being nominated by President Biden and is considered by many to be one of the more pro-crypto voices at the regulatory body. It’s unclear if her nomination to be FDIC chair is more related to her experience in securities and cryptocurrency regulation rather than filling the leadership position left by Gruenberg. In May, the soon-to-be-former FDIC chair pledged to resign after allegations of a workplace culture filled with sexual harassment and discrimination.
