Biden nominates Christy Goldsmith Romero to lead FDIC at pivotal time for the banking regulator

President Joe Biden has nominated Christy Goldsmith Romero as chair of the Federal Deposit Insurance Corporation.

The announcement comes after current FDIC Chair Martin Gruenberg said he intended to resign once a successor is confirmed by the Senate following a scathing independent investigation detailing pervasive sexual harassment, discrimination and bullying at the agency charged with regulating the banking sector.

This story is developing and will be updated.