Banking

Biden chooses Hill, McKernan for FDIC Board

President Joe Biden the other day chosen Republicans to fill the 2 uninhabited seats on the five-member FDIC Board of Directors. Travis Hill was chosen as vice chair. Hill formerly operated at the FDIC for 4 years as senior consultant to the chairman and deputy to the chairman for policy.

Jonathan McKernan—who is presently senior counsel at the Federal Housing Finance Agency—was likewise chosen. McKernan formerly was a senior policy consultant at the U.S. Department of the Treasury and to previous Sen. Bob Corker (R-Tenn.).

By law, the FDIC board cannot have more than 3 members from the exact same celebration, with 2 seats filled by the comptroller of the currency and the director of the Consumer Financial Protection Bureau. The elections should be authorized by the Senate.

Gabriel

A news media journalist always on the go, I've been published in major publications including VICE, The Atlantic, and TIME.

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