Marty Gruenberg, the No. 2 at the Federal Deposit Insurance Corp., is expected to be nominated shortly as the agency's chairman, according to several sources.
Though the White House is remaining silent on a forthcoming package of financial services nominees, Gruenberg's ascension has been rumored for months, with no other likely candidate mentioned. A former top aide on the Senate Banking Committee, Gruenberg has been the FDIC's vice chairman since 2005, and briefly was its acting head before the confirmation of Sheila Bair.
During that time Gruenberg has amassed a solid background in regulatory policy, taking an active role in the development of Basel capital standards and demonstrating a clear interest in consumer protection.
Gruenberg's agenda is an unknown, but he has been aligned with Bair on every recent FDIC initiative, including those that have upset bankers, suggesting he may steer the agency in a similar direction.
