Overview
- The committee voted 13–11 along party lines to send Hill’s nomination to the full Senate, where a similar split is expected and confirmation is anticipated.
- Hill, President Donald Trump’s nominee, has served as acting FDIC chair since January following Martin Gruenberg’s departure.
- Sen. John Kennedy shifted to support after receiving a report indicating that 26 employees linked to verified misconduct are no longer at the FDIC.
- Sen. Elizabeth Warren said Hill blocked release of monthly assessments from the FDIC’s independent transformation monitor, which she says describe understaffed offices and setbacks in the agency’s culture plan.
- Under Hill’s leadership the FDIC repealed a Biden-era ILC rule, eased private-equity bids for failed banks, proposed lighter capital requirements for small banks, and is working to implement stablecoin rules; the panel also advanced nominees for Ginnie Mae, the FHA and the U.S. Mint.