Acting FDIC chairman to re-focus regulators on core mission, away from political causes

The acting chairman of the Federal Deposit Insurance Corporation, Travis Hill, today declared his list of priorities and reforms aimed at promoting a safe, sound, resilient banking system. CEI’s Iain Murray praised the re-focus on fulfilling the agency’s mission as set forth by Congress and away from politically-driven actions.

Statement by Iain Murray, Competitive Enterprise Institute senior fellow:

“FDIC Acting Chairman Travis Hill indicates the FDIC will return to its statutory mission of protecting depositors, rejecting the regulatory expansionism that led to debankings and discouragement of innovation. The FDIC has become somewhat of a rogue agency in recent years, and anyone who believes in the rule of law in this country should feel encouraged by Chairman Hill’s goal of stopping the agency from “coloring outside the lines.” This should be the beginning of the end for unjustified debanking. I look forward to similar commitments from other heads of agencies like the CFPB.”