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☆ Biden’s Pick to Lead F.D.I.C. Faces Little Resistance in Senate Hearing
▼ + stars: | 2024-07-11 | by ( Emily Flitter | ) www.nytimes.com time to read: +1 min

With a broad smile and crisply delivered answers, Christy Goldsmith Romero, President Biden’s nominee to take over the Federal Deposit Insurance Corporation, appeared to cruise through her Senate confirmation hearing on Thursday. Ms. Goldsmith Romero’s testimony, before the Senate Banking Committee, is the first step in a process that could put her in charge of the regulator that oversees smaller banks, administers the fund that protects bank depositors’ cash and steps in when a bank fails; it was recently roiled by revelations of widespread sexual harassment and abuse of junior employees by their longtime managers. Over the course of the hearing on Thursday, Ms. Goldsmith Romero’s testimony drew praise not only from Democrats but also from some Republicans, suggesting that she was likely to be confirmed for the position. Ms. Goldsmith Romero is a lawyer who, after the financial crisis, spent more than 12 years in an office created by Congress to investigate fraud and other misconduct by banks that received money from the government’s roughly $450 billion crisis rescue package. Her work exposing fraud often put her at odds with not only bankers but also some government officials who were concerned about the potential damage it would do to overall public opinion of the bailout.

Persons: crisply, Christy Goldsmith Romero, Biden’s, Ms, Goldsmith Romero’s, Goldsmith Romero Organizations: Federal Deposit Insurance Corporation, Banking Committee

☆ Biden to nominate Christy Goldsmith Romero as FDIC chair after abrupt departure of predecessor
▼ + stars: | 2024-06-13 | by ( ) www.cnbc.com time to read: +2 min

Christy Goldsmith Romero, commissioner of the Commodity Futures Trading Commission (CFTC) speaks during the DC Blockchain Summit in Washington, D.C., on Tuesday, May 24, 2022. President Joe Biden will nominate Christy Goldsmith Romero to replace Martin Greunberg as head of the Federal Deposit Insurance Corporation. A longtime financial regulator, Goldsmith Romero is currently a commissioner at the Commodity Futures Trading Commission, the nation's financial derivatives regulator, and previously worked with the Department of Treasury. Her previous nominations to the nation's financial regulators were unanimously confirmed by the Senate. Gruenberg's resignation would not be official until Goldsmith Romero nomination is finalized.

Persons: Christy Goldsmith Romero, Joe Biden, Martin Greunberg, Gruenberg's, Goldsmith Romero, Sen, Sherrod Brown, Gruenberg, Cleary Gottlieb Steen, Hamilton, hasn't, Tim Scott Organizations: Futures Trading Commission, DC, Washington , D.C, Federal Deposit Insurance Corporation, White, Commodity Futures Trading Commission, Department of Treasury, Georgetown University, Senate, Banking Committee, Republicans, FDIC, Republican Locations: Washington ,, Ohio

☆ Biden nominates Christy Goldsmith Romero to lead FDIC at pivotal time for the banking regulator
▼ + stars: | 2024-06-13 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

New York CNN —President Joe Biden has nominated Christy Goldsmith Romero as chair of the Federal Deposit Insurance Corporation. Goldsmith Romero, a Democrat, served as special inspector general for the Troubled Asset Relief Program at the Treasury Department that was borne out of the Great Recession. As incoming head of the FDIC, she will largely be viewed as the figure responsible for fixing the longstanding problematic culture at the agency. An independent investigation commissioned by the FDIC released in early May confirmed the Wall Street Journal’s reporting from last year. Gruenberg’s exitUnder pressure from the top-ranking Democrat on the Senate Banking Committee, Sherrod Brown of Ohio, Gruenberg announced he would vacate the position once a new chair is confirmed.

Persons: Joe Biden, Christy Goldsmith Romero, Martin Gruenberg, Goldsmith Romero, Goldsmith Romero “, ”, “, wrongdoers, Sherrod Brown of, Gruenberg, Travis Hill Organizations: New, New York CNN, Federal Deposit Insurance Corporation, Democrat, Troubled Asset, Treasury Department, FDIC, ”, Senate Banking, Republican Locations: New York, ”, Gruenberg’s, Sherrod Brown of Ohio

☆ White House to nominate Goldsmith Romero soon, aiming for July hearing, says Reuters source
▼ + stars: | 2024-06-13 | by ( ) www.cnbc.com time to read: +2 min

The White House will nominate markets regulator Christy Goldsmith Romero as Federal Deposit Insurance Corporation chair imminently as it targets the week of July 8 for her first hearing, a person with direct knowledge of the matter said on Wednesday. The White House will nominate markets regulator Christy Goldsmith Romero as Federal Deposit Insurance Corporation chair imminently as it targets the week of July 8 for her first hearing, a person with direct knowledge of the matter said on Wednesday. The White House declined comment. She had been lined up for the Treasury role before Gruenberg succumbed last month to political pressure to resign. Punchbowl News earlier on Wednesday reported that the White House would announce Romero's nomination on Thursday.

Persons: Christy Goldsmith Romero, Sherrod Brown, Joe, Goldsmith Romero, Martin Gruenberg, Kristin Johnson, Spokespeople, Brown, Johnson, Goldsmith Romero's, Gruenberg Organizations: Federal Deposit Insurance Corp, Federal Deposit Insurance Corporation, imminently, White House, Democratic, Banking, U.S, Commodity Futures Trading Commission, Treasury Department, Treasury, FDIC, Labor, Street, Punchbowl Locations: Washington , DC, Washington

☆ Former Bank Bailout Watchdog Is Choice to Lead F.D.I.C.
▼ + stars: | 2024-06-13 | by ( Emily Flitter | ) www.nytimes.com time to read: +1 min

Christy Goldsmith Romero, a lawyer who spent more than a decade rooting out fraud and other bad behavior at banks that received federal aid in the wake of the 2008 financial crisis, has been chosen to be the next leader of the Federal Deposit Insurance Corporation, the White House announced on Thursday. Her pick is the first step in President Biden’s quest to quickly replace the current chair, Martin Gruenberg, the bank regulator’s longtime leader who said last month that he would resign in response to reports of vast workplace abuse and harassment at the agency. If the Senate Banking Committee acts quickly to hold a hearing and a vote on Ms. Goldsmith Romero’s candidacy, she has a chance of assuming the role before the presidential election in November. In a statement emailed to reporters, the committee’s chairman, Sherrod Brown, Democrat of Ohio, said Ms. Goldsmith Romero “would bring to the F.D.I.C. decades of financial services experience, including valuable experience.”“She has proven herself to be a strong, independent and fair regulator who is not afraid to do what’s right,” he said.

Persons: Christy Goldsmith Romero, Biden’s, Martin Gruenberg, Goldsmith Romero’s, Sherrod Brown, Goldsmith Romero “, ” Organizations: Federal Deposit Insurance Corporation, White, Committee, Democrat Locations: Ohio

☆ Biden Nears Pick for Next F.D.I.C. Chair
▼ + stars: | 2024-06-11 | by ( Emily Flitter | ) www.nytimes.com time to read: +1 min

Three weeks after President Biden vowed to pick a new leader for the Federal Deposit Insurance Corporation, the bank regulator shaken by a vast workplace abuse scandal, a front-runner has emerged: Christy Goldsmith Romero, who sits on the five-member Commodity Futures Trading Commission, according to two people with knowledge of the administration’s thinking. Ms. Goldsmith Romero is a lawyer who, after the financial crisis, spent more than 12 years in an office created by Congress to investigate fraud and other misconduct by banks that received money from the government’s roughly $450 billion crisis rescue package, the Troubled Asset Relief Program. From 2011 to 2022, Ms. Goldsmith Romero led the office as the special inspector-general for the program. Mr. Biden has not made a final decision. Ms. Goldsmith Romero’s position as the front-runner for the job was first reported by The Wall Street Journal.

Persons: Biden, Christy Goldsmith Romero, Goldsmith Romero, Goldsmith Organizations: Federal Deposit Insurance Corporation, Futures Trading Commission, Troubled Asset, Wall Street

Learn moreBusiness Insider Reviews has been covering the best pet products for more than five years. AdvertisementWhat types of pet products we coverFood: After hundreds of hours of interviews and research, we carefully selected the best cat foods and best dog foods. We also put dozens of litters to the test for our guides to the best cat litters and natural cat litter. Veterinarians and professional groomers also helped us narrow down the best dog toothpastes, dog dental chews, cat dental products, dog shampoos, and cat shampoos. Her article on pet anxiety in Pet Sitting Magazine was also nominated for The PSI Professional Pet Care Award.

Persons: We've, Ollie, we've, groomers, shampoos, Lisa Sabatini, Lisa, basset, JoAnna Pendergrass, JoAnna, Emory University's, Janelle Leeson, Janelle, Dodo, Shoshi Parks, Shoshi, Phoebe, Christy Caplan, Christy, Sherman, Walter, You'll, Jackie Brown, Jackie, Dr, Julie Liu, Liu, — Organizations: Health, Animal Association, Association of American, Business, Wall Street, JPen Communications, Virginia - Maryland College of Veterinary Medicine, Emory, Emory University's Yerkes, Primate Research, Insurance, Rover, Shop, USA, Freelance, Shoshi Parks, NPR, Smithsonian, Atlas Obscura, Portland Community College, Dog Writers Association of America, Animal Wellness, Product, Pet Health, Service Locations: Virginia, Shoshi, Oregon, Austin , Texas, Austin

CNN —US and AC Milan midfielder Yunus Musah is used to hostility – passionate and aggressive crowds are part of the game after all. Instead, Italian soccer found itself in the midst of another alleged racism scandal – one that Musah was around to witness firsthand. “So it was really, really important that when we saw that, the whole team reacted great. Prior to joining Milan, Musah spent the first three years of his senior career with Spanish side Valencia. During a league match against Real Madrid in May last year, a Valencia fan subjected opposing forward Vinícius Jr. to persistent racist abuse.

Persons: Yunus Musah, “ We’re, ” Musah, Darren Lewis, Mike Maignan, Noah Okafor, Musah, Mike, “, ”, ” Maignan, Fabio Maresca, Maignan, Romelu, Vinícius, Pablo Morano, Reuters Musah, ” “, they’re, Omar Beckles, George Floyd, Germany's Leon Goretzka, Mike Lawrence, “ We’d, ’ ”, Milan Women’s Christy Grimshaw, You’ve, “ We’ll Organizations: CNN, US, AC Milan, Soccer, Serie, Udinese, Milan, ” Udinese, Serie A, Ciancaphoto, Udinese Calcio, Italian, Roma, Spanish, Real Madrid, Reuters, England’s, ’ Association, Getty, Milan’s, ” Locations: Italy, Lazio, “, Valencia, New York, London, England

☆ CFTC says access to US customers 'is a privilege, not a right,' in aggressive case against Binance that is only just getting started
▼ + stars: | 2023-11-23 | by ( Laila Maidan | ) www.businessinsider.com time to read: +2 min

CFTC says case against Changpeng Zhao and Binance is the beginning of an aggressive pursuit. Commissioner Caroline D. Pham said the CFTC has no borders when it comes to prosecuting non-US entities. AdvertisementA statement made by CFTC Commissioner Christy Goldsmith Romero read: "There are no pirate ships in US markets" and that "access to US customers is a privilege, not a right." Goldsmith added that the CFTC plans to continue its aggressive pursuit of crypto exchanges that violate trade laws. In a separate statement, CFTC Commissioner Caroline D. Pham said the CFTC's reach has no border.

Persons: Changpeng Zhao, Binance, Caroline D, Pham, Zhao, —, it's, Sam Bankman, Christy Goldsmith Romero, Goldsmith Organizations: CFTC, Service, Commodity Futures Locations: U.S

Signage is seen outside of the US Commodity Futures Trading Commission (CFTC) in Washington, D.C., U.S., August 30, 2020. A centralized registry would also make it easier for the government to identify repeat offenders and deter potential fraudsters, Goldsmith Romero said. Goldsmith Romero had suggested the registry several years ago while serving as the watchdog of a key 2009 financial crisis bailout program. In Goldsmith Romero's previous role, the government watchdog did launch a database of such financial crimes related to the Troubled Asset Relief Program. Such a centralized database could serve as a model for a larger, national registry that federal regulators could organize and that state regulators could also participate in.

Persons: Andrew Kelly, Christy Goldsmith Romero, Goldsmith Romero, Goldsmith Romero's, Chris Prentice, Leslie Adler Organizations: US, Futures Trading Commission, Washington , D.C, REUTERS, fraudsters, CFTC, Reuters, Troubled Asset, Thomson Locations: Washington ,, U.S

☆ Avid Taylor Swift fans are flashing their dollars to attend the Eras Tour, with some spending up to $20,000 to see her as many times as possible
▼ + stars: | 2023-07-08 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +9 min

Taylor Swift's Eras Tour has taken the US by storm as Swifties do all that they can to see it. He's been to the Eras Tour eight times and sat in the front row for five of those shows. "I remember sending a text in 2019 to someone saying if there was ever a Taylor Swift best-of tour, money becomes no object," he said. QuestionPro, a research company, found that the Eras Tour could result in $4.6 billion in consumer spending in the US. That means she's putting upwards of $10,000 towards the Eras Tour, and might spend even more at future dates.

Persons: Taylor, Swifties, Jake, he's, Swift, He's, Taylor Swift, I've, Bridget Doyle, Doyle, —, Christy G, Lindsey Lisalda, Louis, Lisalda, Lindsey Lisalda Megan Crowley, jetting, Swift's, Megan Crowley, Clara Cummings, Megan Crowley Swifties, Kat, She's, Moira Rodriguez, Crowley Organizations: Service, Nashville, Roll Hall of Fame, National Underground Railroad Freedom, Swift's Los, Gillette Locations: Wall, Silicon, Massachusetts, New York, Pennsylvania, New Jersey, Nashville , Tennessee, Nashville, Denver, St, Swiftcation, Glendale , Arizona, Chicago, Kansas City , Missouri, Salt Lake City, Phoenix, Swift's Los Angeles, Arizona, Foxborough , Massachusetts, Glendale, Nebraska, Minneapolis —, HAM

☆ How torture, inaction underpin UAE's thriving sex trafficking industry
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +9 min

“The suffering was too much.”In a statement to the court after she was charged, Gold denied that she and her brother were sex traffickers. Emirati authorities do little to protect these women, according to anti-trafficking activists, Nigerian authorities and interviews with trafficked women. Human traffickers keep African women in sexual slavery by playing on their financial desperation and creating webs of manipulation and coercion, the reporting shows. This article is part of a reporting collaboration led by ICIJ, Trafficking Inc., which is examining sex trafficking and labor trafficking in many parts of the globe. The UAE made sex trafficking a crime in 2006 and has established an interagency anti-trafficking panel and opened shelters for survivors.

Persons: Christy Gold’s, Gold, Christiana Jacob Uadiale –, they’d, “, ”, ICIJ, Fatima Waziri, NAPTIP, Angus Thomas Organizations: United Arab, International Consortium of Investigative Journalists, Reuters, UAE, Gold, Emirates, NBC, Investigative Journalism, Dubai, UAE Ministry of Foreign Affairs, Nigeria’s National Agency for, U.S . State Department Locations: Nigerian, Nigeria, Dubai, British, United Arab Emirates, Gulf, UAE, “, ”, Ghana, Gold, Europe, South Asia, Africa, Abu Dhabi

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGemini says DCG risks default, and CFTC official reiterates ether is a commodity: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Christy Goldsmith Romero of the CFTC discusses the agency's approach to crypto regulation.

☆ Crypto must end anonymity for illicit finance, U.S. regulator says
▼ + stars: | 2023-04-25 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LONDON, April 25 (Reuters) - Anonymity is allowing crypto assets to finance illegal activities, a top U.S. regulatory official said on Tuesday, posing national security risks that must be addressed. "It's essential for governments and particularly the industry to address that which makes crypto so attractive to illicit finance, and that is the allure of anonymity," she said. Legally compliant crypto companies should not be using "mixers" or software tools that effectively anonymise users by pooling and scrambling cryptocurrencies from thousands of addresses. Compliant crypto companies must show they have internal controls to prevent money laundering and terrorist financing. "It's possible for all crypto companies to distance themselves from mixers and anonymity enhancing technology while still providing customers financial privacy," Romero said.

The CFTC already allows self-certification for exchanges to list contracts for other products, such as commodities. Lawmakers were considering a similar process as part of proposed crypto legislation being hammered out last year. But CFTC Commissioner Christy Goldsmith Romero said the process would open the door to "regulatory arbitrage" as some crypto assets are likely securities that need to be overseen by a different agency, the Securities and Exchange Commission (SEC). Federal prosecutors have brought charges against three of FTX's former top executives, accusing them defrauding investors and misappropriating customer funds. "Gatekeepers should have seriously questioned the operational environment at FTX in the lead-up to its meltdown,” she said.

☆ U.S. fines 16 Wall Street firms $1.8 bln for talking deals, trades on personal apps
▼ + stars: | 2022-09-27 | by ( Michelle Price | ) www.reuters.com time to read: +4 min

Sept 27 (Reuters) - U.S. regulators on Tuesday fined 16 financial firms, including Barclays (BARC.L), Bank of America , Citigroup , Credit Suisse (CSGN.S), Goldman Sachs , Morgan Stanley and UBS (UBSG.S), a combined $1.8 billion after staff discussed deals and trades on their personal devices and apps. Register now for FREE unlimited access to Reuters.com RegisterThe institutions did not preserve the majority of those personal chats, violating federal rules which require broker-dealers and other financial institutions to preserve business communications. The failings occurred across all 16 firms and involved employees at multiple levels, including senior and junior investment bankers and traders, the SEC said. In one example cited by her office, Bank of America staff used WhatsApp, with one trader writing: "We use WhatsApp all the time but we delete convos regularly." The head of a trading desk routinely directed traders to delete messages on personal devices and to use Signal, including during the CFTC's probe.

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