By Pete Schroeder
WASHINGTON (Reuters) – Newly sworn-in President Donald Trump on Monday appointed Federal Deposit Insurance coverage Company vice chair Travis Hill to guide the company on an performing foundation, the White Home stated.
Hill, who can also be extensively seen as the highest contender for the job completely, has labored in banking coverage and regulation in Washington for over a decade. He has served because the FDIC’s vice chair since 2023. He beforehand was a senior advisor to then-FDIC Chairman Jelena McWilliams, who led the company throughout Trump’s first time period.
Hill, who couldn’t instantly be reached for remark by way of a spokesperson, takes over from FDIC Chairman Martin Gruenberg.
Previous to the FDIC, Hill served as counsel on the Senate Banking Committee, the place he helped the panel advance laws that eased post-crisis guidelines for regional banks, establishing a brand new “tailor-made” regulatory system for all however the nation’s largest lenders.
On the FDIC, Hill has criticized efforts by Democratic regulators to impose strict new capital guidelines on larger banks, generally often called “Basel III endgame.” He additionally challenged efforts to create a brand new framework requiring massive asset managers to show they weren’t influencing banks the place they maintain massive stakes.
Hill will lead an company present process a big overhaul, following revelations of widespread sexual harassment and worker mistreatment on the watchdog.
Hill has known as for a complete overhaul of the FDIC’s tradition and insurance policies, together with figuring out and holding staff who engaged in misconduct accountable.
