White House announces two Republican nominees to FDIC Board of Directors

Ballard Spahr LLP

Ballard Spahr LLP

The White House has announced the names of two Republicans who President Biden is nominating to serve as members of the FDIC Board of Directors.

The FDIC Board of Directors has five members, two of whom are the Comptroller of the Currency and the CFPB Director.  Currently, there are only three members, all of whom are Democrats (consisting of Acting Chair Martin Gruenberg, Acting Comptroller Michael Hsu, and CFPB Director Rohit Chopra).  No more than three members can be from the same political party.

The two Republican nominees are:

  • Travis Hill, who has been nominated to also serve as Vice Chair, worked at the FDIC from 2018 to 2022 as Senior Advisor to former Chair Jelena McWilliams and Deputy to the Chair for Policy.  Previously, Mr. Hill served as Senior Counsel at the Senate Banking Committee, where he worked from 2013 to 2018.
  • Jonathan McKernan is a Senior Counsel at the Federal Housing Finance Agency (FHFA).  He is currently on detail from FHFA to the Senate Banking Committee, where he is a Counsel on the Committee’s Minority Staff.  Mr. McKernan previously served as a Senior Policy Advisor at the Treasury Department and to Senator Bob Corker (R-TN).

[View source.]

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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