Gruenberg Sworn In as FDIC Chairman, Hill & McKernan Join Board

Washington – In a move signaling fresh leadership at the Federal Deposit Insurance Corporation (FDIC), Martin J. Gruenberg has been sworn in as its 22nd Chairman. Accompanying him are Travis Hill, who takes on the role of Vice Chairman, and Jonathan McKernan, newly appointed as Director. The trio will now guide the FDIC’s critical mission of safeguarding the nation’s financial system.

Gruenberg, no stranger to the FDIC, has served as a key figure since 2005, previously holding the position of Vice Chairman before his tenure as Chairman from 2012 to 2018. He expressed his dedication to the agency’s vital mission, emphasizing safety, soundness, consumer protection, and financial stability.

Travis Hill brings extensive experience in financial policy, having served as Senior Advisor to the FDIC Chairman and as Senior Counsel at the Senate Committee on Banking, Housing, and Urban Affairs. His appointment reflects his commitment to collaborative efforts with fellow Board members and agency staff to address critical challenges.

Jonathan McKernan’s background includes serving at the Federal Housing Finance Agency and the U.S. Treasury Department, alongside a private practice focused on banking and consumer financial law. He shares a deep passion for ensuring stability in the nation’s financial system and looks forward to contributing to the FDIC’s vital mission.

President Biden appointed Gruenberg for a five-year term as Chairman and a six-year term as Director, while Hill was appointed for a six-year term and McKernan for an expiring term until May 31, 2024. This marks the first time the Board has been fully staffed since June 2015.

The FDIC Board, comprising five members appointed by the President and confirmed by the Senate, is tasked with maintaining a robust and stable financial system. With Gruenberg, Hill, and McKernan at the helm, the agency stands ready to address the challenges ahead.