Washington, DC – Congressman Barr released the following statement on the White House floating Christy Goldsmith Romero to replace scandal-ridden Federal Deposit Insurance Corporation (FDIC) Chair Marty Gruenberg.
"Marty Gruenberg should have resigned in disgrace months ago. However, his successor must be someone qualified for the role, not a partisan appointee. The White House’s rumored choice, Christy Goldsmith Romero, is nothing short of reckless and undermines the integrity of the position.
The Chair of the FDIC is one of the most critical positions in our financial regulatory framework, responsible for ensuring the safety and soundness of our nation’s banking system. With the impending refinancing of commercial real estate at higher interest rates and the FDIC's own announcement that 63 banks are at the brink of insolvency, the agency has a lot of work to do over the coming years. Christy Goldsmith Romero’s tenure at the CFTC does not provide the requisite experience or expertise needed to lead the FDIC. Our financial institutions deserve a leader with substantial, direct experience in banking, not a politicized choice whose background is misaligned with the demands of this role. The American people cannot afford a learning curve in this position, and it’s time for the White House to put forth a candidate who is genuinely qualified and prepared to safeguard our financial system."