Biden to nominate Christy Goldsmith Romero as FDIC chair after abrupt departure of predecessor

By KEN SWEET
AP Business Writer

NEW YORK (AP) — President Joe Biden will nominate Christy Goldsmith Romero to replace Martin Gruenberg as head of the Federal Deposit Insurance Corporation. The announcement from the White House Thursday came after Gruenberg’s tenure became marred by allegations of workplace abuse that led to him to resign. Goldsmith Romero is currently a commissioner at the Commodity Futures Trading Commission, the nation’s financial derivatives regulator. Gruenberg last month said he would resign from the FDIC after an independent report by a law firm found incidents of stalking, harassment, homophobia and other violations of employment regulations, based on more than 500 complaints from employees.