Skip to main content

House Members Ask White House to Nominate State Supervisor to FDIC Board

A bipartisan group of House members raised alarm at the potential nominees to the FDIC Board, noting that there is no indication so far of a nominee with state regulatory experience as required by law.

The letter, signed by 15 Congressional Representatives, highlighted the critical role of state supervisors in the nation's dual-banking system and emphasized that at least one FDIC board member must have state bank supervisory experience.

"As you know, the federal government and the states share responsibility for overseeing of the nation's dual banking system, and the FDIC plays a considerable role in that process," reads the letter. "State banking regulators also have many significant responsibilities in our nation's dual banking regulatory structure, as nearly 80 percent of our nation's banks are state-chartered."

"Recent news reports have indicated that the administration is considering two potential nominees to fill the vacancies on the FDIC board. While we certainly acknowledge that these individuals have expertise in federal banking regulation... we are concerned that there still would not be an independent director with state bank regulatory experience on the FDIC Board as required by law."

CSBS has strongly advocated for the White House to nominate to the FDIC Board a state bank supervisor. In December 2018, CSBS President and CEO John Ryan wrote about the legal requirement. In early January, CSBS Senior Vice and Deputy General President Margaret Liu explained the intent of Congress when amending the FDI Act to include a state bank supervisor on the board. And, earlier this week, CSBS also sent a letter to the White House.

Related Posts

Blog post
By Margaret Liu CSBS Executive Vice President  Today, CSBS sent a letter to Senate leadership calling for the nomination and confirmation of a state bank commissioner to serve on the FDIC Board as required by law. This post…
Jan 31, 2022
The Honorable Mick Mulvaney Acting Chief of Staff The White House 1600 Pennsylvania Ave. NW Washington, DC 20500 Dear Director Mulvaney: On behalf of the Conference of State Bank Supervisors (CSBS), I am writing to stress the…
Jan 28, 2019
Blog post
By CSBS President and CEO John Ryan In my view, laws set by Congress are meant to be followed. That is one reason that I am so delighted that Miki Bowman, a former community banker and state banking commissioner, is now a member of…
Dec 6, 2018
Press Room
“The Conference of State Bank Supervisors (CSBS) commends Senator Orrin Hatch (R-UT), Senator Mazie Hirono (D-HI), Representative Frank Lucas (R-OK), and Representative Denny Heck (D-WA) for introducing bipartisan legislation (S. 1910…
Oct 4, 2017

1129 20th Street, N.W., 9th Floor, Washington, DC 20036 | Tel. 202.296.2840 | Fax. 202.296.1928