US FDIC needs ‘fresh start’ with new chair, White House official says
The White House seeks a new chair for the FDIC due to long-standing cultural issues. Current chair Martin Gruenberg will step down upon confirmation of a successor. The agency, facing turmoil and rule finalization, requires urgent Senate consideration. Gruenberg’s departure without a replacement risks a 2-2 deadlock. The situation is being taken seriously by the President.