Obama FDIC Chair Stands in Way of Continued Deregulation

With a backlog in the US Senate Obama’s last FDIC Chair Martin Gruenberg is still in office 5 months after his term expired; the FDIC writes rules jointly with the Federal Reserve and the OCC, if the FDIC chair doesn’t like a rule they can block it from implementation; Trump’s chosen FDIC chair is Jelena McWilliams and was given the go ahead from the banking committee but has not received a full confirmation vote; Mr. Gruenberg believes in capital buffers and thinks the Dodd-Frank law keeps the financial system safe. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.