Change came rapidly Tuesday to federal financial institution regulatory agencies with the new Trump administration, as at least two new leaders were named at two agencies.
More changes could be coming in the days ahead.
At the Federal Deposit Insurance Corp. (FDIC), Travis Hill is now the acting chairman of the agency’s board, taking the place of retired former Chairman Martin Gruenberg, who left office Jan. 19. Hill, a Republican appointee, issued a press release Tuesday noting his promotion from vice chairman of the agency board, which included an extensive list of “matters of focus” in the coming weeks.
For the National Credit Union Administration (NCUA), the White House website names Kyle Hauptman as chairman of the agency board. Hauptman, also a Republican appointee, was previously serving as board vice chairman. As of Tuesday at noon ET, Hauptman was still listed on the agency’s website as vice chairman, while Todd Harper, a Democrat appointee, was still listed as chairman. Hauptman had not issued a press release about his appointment as of Tuesday noon.
Hill is serving a six-year term that began in 2022. Hauptman is serving a term that ends this August; he joined the NCUA Board in 2020.
No changes have been announced for other federal financial institution regulatory agencies so far. Michael Hsu has not been replaced as head of the Office of the Comptroller of the Currency (as acting comptroller), and his position remains the same on the agency’s website; Rohit Chopra remains as director of the Consumer Financial Protection Bureau (CFPB), as no replacement has been named by the incoming administration. Chopra is also listed on the agency’s website as director.
Statement from Acting Chairman Travis Hill
President Trump designates chairmen and acting chairmen
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