Today following the White House announcement on their intent to nominate Christy Goldsmith Romero to succeed Martin Gruenberg as Chair of the Federal Deposit Insurance Corporation (FDIC), Congressman Blaine Luetkemeyer (MO-03) released the following statement:

“The nomination of a new FDIC Chair presents an opportunity for much-needed change, but it is only the first step in addressing the deeply entrenched issues Chair Martin Gruenberg has plagued the agency with for so many years. Each day he continues to rein over the FDIC, the culture of dysfunction, toxicity, and failure to uphold the integrity will persist, said Congressman Luetkemeyer.”

“The incoming nominee, Christy Goldsmith Romero, must not merely be a figurehead of change; but a proactive leader who is ready to implement the Cleary Gottlieb recommendations from day one. We need more than a change at the top; we need a complete overhaul of the agency's culture and practices, and this begins with decisive leadership committed to transparency, accountability, and the highest standards of conduct.”

“The Senate must quickly move forward with the confirmation process, but it is equally imperative that the new Chair undertakes substantial reforms to restore confidence in the FDIC. The American people deserve a regulatory body that operates with integrity and effectiveness, free from the shadow of previous mismanagement and politics.”