FDIC’s Gruenberg Plans to Stay on Until Successor Confirmed

FDIC Chairman Martin Gruenberg today said he would remain in office after his term expires on Nov. 29 until a successor is confirmed by the Senate. President Trump has not yet named a new FDIC chairman.

During his remarks at the Brookings Institution in Washington, D.C., Gruenberg defended the post-crisis regulatory framework that he helped to create. While he acknowledged that the “large body” of regulations “could benefit from review” — in particular the Volcker Rule, stress tests and capital rules for smaller banks — he cautioned against making changes that “could cross the line into substantial weakening of requirements.”