Trump Likely to Make Fresh Picks to Head FDIC, CFTC

(Bloomberg) -- The Trump administration will likely choose fresh nominees to oversee the Federal Deposit Insurance Corp. and Commodity Futures Trading Commission instead of installing the current acting heads of those agencies to permanently lead the regulators, according to a person familiar with the matter.

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President Donald Trump picked Travis Hill, who had been vice chairman, to serve as acting head of the FDIC on Jan. 20. Former Chairman Martin Gruenberg departed a day earlier.

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Trump also chose junior CFTC Commissioner Caroline Pham as acting chair of the swaps and derivatives regulator. Pham had been considered as a contender to fill the position on a permanent basis. Other candidates for the permanent chairmanship have included Summer Mersinger, the senior Republican at the CFTC, and Brian Quintenz, a former Republican CFTC commissioner.

The White House, CFTC and FDIC didn’t immediately respond to requests for comment.

--With assistance from Paige Smith and Lydia Beyoud.

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