September 8, 2011Senate Panel Clears FDIC, SEC Nominees
Washington, A Senate panel on Thursday approved President Barack Obama's nominees to the Federal Deposit Insurance Corp. and Securities and Exchange Commission, though one banking regulator is likely to face further scrutiny.
The Senate Banking Committee cleared the nominations of Martin Gruenberg to lead the Federal Deposit Insurance Corp. and Thomas Curry, a member of the FDIC board and a former Massachusetts banking regulator, to head the Office of the Comptroller of the Currency.
The panel approved two nominees to the Securities and Exchange Commission: Daniel Gallagher Jr., a partner at the law firm Wilmer Cutler Pickering Hale & Dorr LLP, and agency commissioner Luis Aguilar, who was nominated for a second term.
The nominees were approved on a voice vote, with Mr. Curry the only one to generate any discussion. Sen. Bob Corker (R., Tenn.), said he was concerned Mr. Curry might lack sufficient strength and independence to lead the Comptroller of the Currency, which regulates banks. Mr. Corker said he plans to meet further with Mr. Curry. If his concerns aren't satisfied, Mr. Corker said he might oppose his nomination.
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