FDIC chair's resignation threatens Biden banking agenda [Yahoo! Finance]
Stifel Financial Corporation (SF)
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Source: Yahoo! Finance
FDIC Chair Martin Gruenberg is central to getting several key proposals, including the controversial Basel III Endgame regulations, across the finish line. Gruenberg's announcement Monday that he will resign once a successor is confirmed leaves him in place for now as President Biden searches for a replacement. However, experts said it is unlikely that the Senate will confirm a new FDIC chair just months out from the election, leaving Gruenberg — and the administration's banking regulations — in a precarious position. “I'm skeptical that this plan is going to work,” Ian Katz, managing director of Capital Alpha Partners, said in a statement to The Hill. “I don't think he can hang on long enough for a successor to be confirmed,” Katz added. “I think the Republicans are going to be furious, and some moderate [Democrats] might not go along with this idea.” Gruenberg has been under fire for months since The Wall Street Journal released a report last fall detailing a toxic workpl
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SF
Sec Filings
- 6/7/24 - Form 4
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- 6/7/24 - Form 4
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