President Joe Biden announced the nomination of Christy Goldsmith Romero to lead the Federal Deposit Insurance Corporation (FDIC), the independent federal agency in U.S. responsible for maintaining financial stability.
Currently, Romero is representing as the Commissioner at the Commodity Futures Trading Commission (CFTC) and she has over 20 years of experience in financial regulation. She has extensive related experience having served as the Special Inspector General for the Troubled Asset Relief Program (SIGTARP).
Biden also nominated Kristin Johnson as Assistant Secretary for Financial Institutions at the Department of the Treasury. Johnson, a Commissioner at the CFTC, is known for his experience in regulating the risks in financial markets.
She contributed before the U.S. House of Representatives on artificial intelligence and blockchain technology hence establishing her leadership in financial innovation and risk management. Johnson’s professional background includes roles at JP Morgan Chase and Simpson, Thacher, Bartlett LLP, and a clerkship with Judge Joseph Greenaway, Jr.
Caroline A. Crenshaw has been nominated for another term as a Commissioner of the Securities and Exchange Commission (SEC). Crenshaw has focused on strengthening investor protection since her confirmation in 2020. She worked as an SEC staff attorney and legal counsel to Commissioners and practiced law at Sutherland, Asbill, and Brennan LLP. Crenshaw also serves as a captain in the U.S. Army Reserve’s Judge Advocate General’s Corps.
Gordon I. Ito, currently the Insurance Commissioner for Hawaii, has been nominated to join the Financial Stability Oversight Council.
Christy Goldsmith Romero and Kristin Johnson have played a key role in the CFTC’s efforts to boost consumer protection and address conflicts of interest in the cryptocurrency industry. Although Romero has talked about the risk in cryptos, he has compared it to the financial crisis of 2008.
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