By Pete Schroeder
WASHINGTON (Reuters) – Newly sworn-in President Donald Trump on Monday named Federal Deposit Insurance Corporation Vice President Travis Hill to lead the agency on an interim basis, the White House said.
Hill, who is also widely seen as the leading candidate for the permanent job, has worked on banking policy and regulation in Washington for more than a decade. He has served as vice chair of the FDIC since 2023. He was previously a senior advisor to then-FDIC Chair Jelena McWilliams, who led the agency during Trump's first term.
Hill, who could not immediately be reached for comment through a spokesperson, replaces FDIC Chairman Martin Gruenberg.
Prior to the FDIC, Hill served as counsel on the Senate Banking Committee, where he helped the panel advance legislation that relaxed post-crisis rules for regional banks, establishing a new “accommodative” regulatory system for all but largest lenders in the country.
At the FDIC, Hill has criticized Democratic regulators' efforts to impose tough new capital rules on the largest banks, commonly known as the “end of Basel III.” He also questioned efforts to create a new framework requiring large asset managers to prove they are not influencing banks in which they have large stakes.
Hill will lead an agency that is undergoing a major revamp, following revelations of widespread sexual harassment and mistreatment of employees at the watchdog.
Hill has called for a comprehensive review of the FDIC's culture and policies, including identifying and holding accountable employees who engaged in misconduct.
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