Trump appoints Travis Hill as FDIC acting chair, White House says

Published 01/20/2025, 03:32 PM
Updated 01/20/2025, 04:46 PM
© Reuters. FILE PHOTO: The Federal Deposit Insurance Corp (FDIC) logo is seen at the FDIC headquarters in Washington, February 23, 2011. REUTERS/Jason Reed/File Photo

By Pete Schroeder

WASHINGTON (Reuters) -Newly sworn-in President Donald Trump on Monday appointed Federal Deposit Insurance Corporation vice chair Travis Hill to lead the agency on an acting basis, the White House said.

Hill, who is also widely seen as the top contender for the job permanently, has worked in banking policy and regulation in Washington for over a decade. He has served as the FDIC's vice chair since 2023. He previously was a senior adviser to then-FDIC Chairman Jelena McWilliams, who led the agency during Trump's first term.

Hill takes over from FDIC Chairman Martin Gruenberg. A spokesperson for Hill declined to comment.

Prior to the FDIC, Hill served as counsel on the Senate Banking Committee, where he helped the panel advance legislation that eased post-crisis rules for regional banks, establishing a new "tailored" regulatory system for all but the nation's largest lenders.

At the FDIC, Hill has criticized efforts by Democratic regulators to impose strict new capital rules on bigger banks, commonly known as "Basel III endgame." He also challenged efforts to create a new framework requiring large asset managers to prove they were not influencing banks where they hold large stakes.

© Reuters. FILE PHOTO: The Federal Deposit Insurance Corp (FDIC) logo is seen at the FDIC headquarters in Washington, February 23, 2011. REUTERS/Jason Reed/File Photo

Hill will lead an agency undergoing a significant overhaul, following revelations of widespread sexual harassment and employee mistreatment at the watchdog.

Hill has called for a comprehensive overhaul of the FDIC's culture and policies, including identifying and holding employees who engaged in misconduct accountable.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.