Martin J. Gruenberg

Martin J. Gruenberg (born 1953) is the two-time and current chairman, as well as three-time acting chairman, of the U.S. Federal Deposit Insurance Corporation (FDIC).[1][2] He is the longest-serving director in FDIC history, having served since August 2005, surpassing Preston Delano in December 2019 (who served in his capacity as Comptroller of the Currency from 1938 to 1953).[3]

Martin Gruenberg
Chairman of the Federal Deposit Insurance Corporation
Assumed office
February 5, 2022
Acting: February 5, 2022 – January 5, 2023
PresidentJoe Biden
Preceded byJelena McWilliams
In office
July 9, 2011 – June 5, 2018
Acting: July 9, 2011 – November 28, 2012
PresidentBarack Obama
Donald Trump
DeputyThomas M. Hoenig
Preceded bySheila Bair
Succeeded byJelena McWilliams
In office
Acting: November 16, 2005 – June 26, 2006
PresidentGeorge W. Bush
Preceded byDonald E. Powell
Succeeded bySheila Bair
Personal details
Born1953 (age 69–70)
Political partyDemocratic
EducationPrinceton University (BA)
Case Western Reserve University (JD)

Career

Gruenberg holds a J.D. from Case Western Reserve University School of Law and an A.B. from Princeton University, Woodrow Wilson School of Public and International Affairs.[2]

Before joining the FDIC Board, Gruenberg served as Senior Counsel to Senator Paul S. Sarbanes (D-MD) on the staff of the Senate Committee on Banking, Housing, and Urban Affairs from 1993 to 2005. He also served as Staff Director of the Banking Committee's Subcommittee on International Finance and Monetary Policy from 1987 to 1992. Gruenberg served as chairman of the executive council and president of the International Association of Deposit Insurers from November 2007 to November 2012.

Gruenberg has served on the FDIC Board of Directors since August 22, 2005, with confirmations by the United States Senate on July 29, 2005 by voice vote,[4][5] on March 29, 2012 by voice vote,[6] and on December 19, 2022 by a vote of 45–39.[7] From the beginning of his tenure on the board until his first Senate confirmation as chairman in 2012, Gruenberg served as the Senate-confirmed vice chairman.[8] He served as acting chairman under President George W. Bush from November 16, 2005, to June 26, 2006, until confirmation of Sheila Bair. He also served as acting chairman under President Barack Obama from July 9, 2011, to November 28, 2012. In 2011, President Obama nominated Gruenberg for a full five-year term as chairman, and the nomination was confirmed by the Senate on November 15, 2012.[2][9] He served as the Senate-confirmed chairman from November 28, 2012, to June 5, 2018. Under President Joe Biden, Gruenberg served as acting chairman for a third time beginning on February 5, 2022. President Biden nominated Gruenberg for a second full term in November 2022, and the nomination was confirmed by the Senate on December 19, 2022.[10] Gruenberg was sworn in for his second Senate-confirmed term as chairman on January 5, 2023.[11]

References
  1. "FDIC Board of Directors". February 5, 2022. Retrieved February 5, 2022.
  2. "FDIC: Board of Directors & Senior Executives". FDIC.gov. Retrieved December 26, 2012.
  3. "ABA Daily Newsbytes". American Bankers Association. January 2, 2020.
  4. "PN753 — Martin J. Gruenberg — Federal Deposit Insurance Corporation, 109th Congress (2005-2006)". United States Congress. Retrieved December 22, 2022.
  5. "PN759 — Martin J. Gruenberg — Federal Deposit Insurance Corporation, 109th Congress (2005-2006)". United States Congress. Retrieved December 22, 2022.
  6. "PN674 — Martin J. Gruenberg — Federal Deposit Insurance Corporation, 112th Congress (2011-2012)". United States Congress. Retrieved December 22, 2022.
  7. "On the Nomination (Confirmation: Martin J. Gruenberg, of Maryland, to be a Member of the Board of Directors of the Federal Deposit Insurance Corporation)". www.senate.gov. Retrieved December 19, 2022.
  8. "PN752 — Martin J. Gruenberg — Federal Deposit Insurance Corporation, 109th Congress (2005-2006)". United States Congress. Retrieved December 22, 2022.
  9. "PN673 — Martin J. Gruenberg — Federal Deposit Insurance Corporation, 112th Congress (2011-2012)". United States Congress. Retrieved December 22, 2022.
  10. "PN2693 — Martin J. Gruenberg — Federal Deposit Insurance Corporation 117th Congress (2021-2022)". United States Congress. Retrieved December 19, 2022.
  11. "Martin J. Gruenberg Sworn in as 22nd FDIC Chairman Travis Hill Sworn in as Vice Chairman, Jonathan McKernan as Director". Federal Deposit Insurance Corporation. January 5, 2023. Retrieved January 5, 2023.
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