FDIC Chair Gruenberg Announces January Resignation

Martin Gruenberg, the Democratic chair of the Federal Deposit Insurance Corporation (FDIC), announced his resignation effective January 19, 2025, a day before President-elect Donald Trump's inauguration. This move avoids a potential legal conflict if Trump were to dismiss him. Gruenberg faced pressure to resign following an investigation into a toxic workplace culture at the FDIC. His departure will allow Republican Vice Chair Travis Hill to become acting chair, with the possibility of being nominated as the permanent leader by Trump.