White House to nominate Goldsmith Romero soon, aiming for July hearing, says Reuters source

The White House will nominate markets regulator Christy Goldsmith Romero as Federal Deposit Insurance Corporation chair imminently as it targets the week of July 8 for her first hearing, a person with direct knowledge of the matter said on Wednesday.

Goldsmith Romero, a Democratic commissioner at the Commodity Futures Trading Commission, will replace Martin Gruenberg who is stepping down after a damning probe found widespread sexual harassment and other misconduct at the top banking regulator.

The White House is rushing to fill the role so it can push through U.S. President Joe Biden's regulatory agenda, including major bank capital hikes, just six months ahead of the U.S. presidential election.

While administration officials have said they want to move fast, the White House and Democratic Senate Banking Committee chair Sherrod Brown, who is responsible for advancing FDIC nominees, have not said when they expect to hold hearings.

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Kristin