Travis Hill has been given the nod to lead the Federal Deposit and Insurance Corporation (FDIC), a key financial regulator. He is currently the acting Chairman of the agency. The nomination was forwarded to the Senate at the end of last month. Hill took over from the former Chairman, Martin Gruenberg, who exited last month. Gruenberg’s tenure at the FDIC was peppered with internal issues that embarrassed the previous administration.
The American Fintech Council (AFC) has issued a statement indicating its full support, “enthusiastically” backing Hill.
“Mr. Hill is a highly qualified and forward-thinking regulator who approaches his role with a pragmatic and consumer-centered mindset while showing an unparalleled commitment to encouraging responsible innovation in financial services, said Phil Goldfeder, CEO of the AFC. “As responsible innovators develop new banking products that give families greater flexibility and control over their finances, it is essential that the FDIC and other prudential regulators are responsive to new products and progress. We have no doubt that once confirmed, Mr. Hill will continue to reinvest in the tools and resources the FDIC needs to support responsible innovation and provide much-needed regulatory modernization.”
Goldfeder added that they look forward to working with Hill and the FDIC, as it ensures the financial services industry remains at the forefront of innovation.
