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.
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