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Trump's Banking Deregulation Team Takes Shape With FDIC Pick

  • White House selects GOP congressional aide James Clinger
  • Wall Street gains confidence it won’t be overseen by populists
American flags fly outside of the New York Stock Exchange on June 2, 2017.
Photographer: Michael Nagle/Bloomberg
Updated on

President Donald Trump’s team of officials who will be responsible for easing bank rules is finally taking shape after the White House tapped a longtime Republican congressional aide to lead a key regulator.

On Monday, Trump nominated James Clinger, the former chief counsel of the House Financial Services Committee, to replace Martin Gruenberg as chairman of the Federal Deposit Insurance Corp. Clinger would fill a vacant seat at the agency until Gruenberg’s term ends in November.