FDIC Chairman Martin Gruenberg to resign on January 19

Federal Deposit Insurance Corp. (FDIC) Chairman Martin Gruenberg on Tuesday announced that he would resign his post on January 19, the day before President-elect Donald Trump is sworn into office.

Gruenberg had been dragging his feet on resigning his post, stating in May that he would resign after a successor had been nominated and confirmed to fill his place. But President Joe Biden never nominated a replacement.

The chairman, who has been on the FDIC board since 2005, said he has already notified the White House of his decision to resign before the next presidential administration. Trump is now expected to nominate a new leader of the banking regulator.

“Earlier today I informed the President that I will retire as Chairman and Member of the Board of Directors of the FDIC effective January 19, 2025,” Gruenberg wrote in a message reported by Politico. “It has been the greatest honor of my career to serve at the FDIC. … I have especially valued the privilege of working with the dedicated public servants who carry out the critically important mission of this agency.”

https://justthenews.com/government/federal-agencies/fdic-chairman-martin-gruenberg-resign-january-19