Senate Confirms Gruenberg as FDIC Chairman
Democrat Martin Gruenberg was confirmed by the Senate late Thursday to serve as FDIC chairman.
The confirmation of Gruenberg, who has filled the position of acting chair since Republican Sheila Bair left the post last year, was in limbo pending the presidential election, because Senate leaders were reluctant to put a Democrat in the six-year term had Republican Mitt Romney won.
Gruenberg has served on the FDIC board since 2005 and has a background in financial services and regulation that includes serving as senior counsel to Sen. Paul Sarbanes (D-Md.) on the staff of the Senate Banking Committee.
Lawmakers also approved the nomination of former Kansas City Federal Reserve chief Thomas Hoenig, a Republican, to be the FDIC's vice chairman.
The NCUA Board awaits a nomination from President Obama to fill the vacant seat left by former Board Member Gigi Hyland, who resigned in October. Board member Michael Fryzel’s term expires on Aug. 2, 2013.
No more than two board members may represent the same political party, according to the NCUA’s website. That means Obama must nominate both a Democrat and a Republican to replace Hyland and Fryzel, because Chairman Debbie Matz is a Democrat.