WASHINGTON, June 10 (UPI) -- U.S. President Obama Friday announced his intention to nominate Martin J. Gruenberg as chairman of the Board of Directors of the Federal Deposit Insurance Corp.
Gruenberg has been vice chairman of the FDIC Board of Directors since August 2005 and served as acting chairman from Nov. 15, 2005, to June 26, 2006. He served as senior counsel to Sen. Paul S. Sarbanes, D-Md., on the staff of the Senate Committee on Banking, Housing and Urban Affairs from 1993 to 2005.