Martin Gruenberg was sworn in as the 22nd chairperson of the Federal Deposit Insurance Corp. (FDIC) board of directors. Travis Hill was sworn in as the FDIC board vice chair, and Jonathan McKernan as director.
Gruenberg is the longest-serving member of the board, first joining as vice chair in August 2005. He previously served as FDIC chairperson from November 2012 to June 2018.
“I am honored to serve again as chairman of the FDIC,” said Gruenberg. “I look forward to working closely with my fellow Board members to carry out the FDIC’s critically important mission of safety and soundness, consumer protection, and financial stability.”
Before his appointment, Hill served as senior advisor to the FDIC chair and deputy to the FDIC chair for policy from July 2018 until February 2022, and, prior to that, as senior counsel at the Senate Banking, Housing, and Urban Affairs Committee.
Hill said, “It is a tremendous honor to have been appointed to serve as an FDIC board member. I look forward to engaging with my fellow board members, the FDIC staff, and counterparts at other agencies regarding the many important issues facing the FDIC.”
McKernan previously served as senior counsel at the Federal Housing Finance Agency, on detail as counsel on the staff of the Senate Banking, Housing, and Urban Affairs Committee, and as senior policy advisor at the U.S. Treasury Department and to Sen. Bob Corker.
President Joe Biden appointed Gruenberg for a term of five years as chair and a six-year term as a director on the board; Hill for a term of six years; and McKernan to serve for an expiring term until May 31, 2024. The FDIC board will have all seats on the board of directors filled for the first time since June 2015.