Federal Deposit Insurance Corporation (FDIC) Chairman Martin Gruenberg has announced his retirement effective Jan. 19, 2025, one day before President-elect Donald Trump is set to be sworn into office.
“It has been the greatest honor of my career to serve at the FDIC,” Gruenberg wrote in a Nov. 19 message to agency staff that was viewed by The Epoch Times. “I have especially valued the privilege of working with the dedicated public servants who carry out the critically important mission of this agency.”
The departure of Gruenberg, a Democrat, marks the end of his nearly two-decade tenure at the FDIC, an agency established during the Great Depression that runs the nation’s deposit insurance program, which reimburses American savers up to $250,000 in case their bank fails. During his tenure, Gruenberg served as acting FDIC chairman on a number of occasions, and then twice as chairman, first under former President Barack Obama and then under President Joe Biden….