The freeze on confirming picks to the Federal Deposit Insurance Corp.'s board appears to be melting.
Following a stretch of either delayed nominations or pending votes in the Senate, lawmakers from both sides of the aisle were effusive Thursday in their praise of Thomas Hoenig, the nominee for the FDIC's No. 2 post.
Following Hoenig's confirmation hearing, Sen. Richard Shelby, the top Republican on the Senate Banking Committee, voiced support for quick approval of not only Hoenig for FDIC vice chairman, but also of Martin Gruenberg as FDIC chair and Thomas Curry as comptroller of the currency.
"I'd like to move them all together," Shelby told reporters. "The sooner we can get these nominees up, vote on them, I hope to do it before we leave here in the fall."
The board seats have been in limbo for a while. Although both parties have been supportive of certain appointments, Senate votes on nominees have been few and far between.
Gruenberg has held the position of acting chairman since former agency chief Sheila Bair left in July, while John Walsh has served as acting comptroller since August 2010. Curry now sits on the board as an independent director, but if confirmed as comptroller would switch seats. (The Banking Committee approved Gruenberg and Curry in September but they have not yet been approved by the full Senate.)
Shelby signaled support for moving Gruenberg, Hoenig and Curry as a package on the Senate floor, while leaving aside debate on perhaps the most contentious nominee — Richard Cordray as director of the Consumer Financial Protection Bureau, who would also hold an FDIC seat — which has added more uncertainty to the board's makeup.
Many GOP senators have opposed confirmation for anyone to run the bureau absent changes to its structure. Speaking of the three less controversial nominees, Shelby said, "I support them all — if we can get our package through."
With the FDIC responsible for implementing many key provisions of the Dodd-Frank Act, members of the Senate panel said filling out the agency's board of directors is crucial.
"Given the FDIC's new responsibilities and powers to unwind failing financial firms to prevent systemic problems, ensuring that its board is operating at full strength is a top priority," said Sen. Tim Johnson, D-S.D., the Banking Committee's chairman.
