Second-tier bank regulatory jobs aren’t usually a major battleground within the Democratic Party, particularly when Republicans control the White House. No matter who ends up getting these posts, Democratic nominees won’t be able to write tough new rules or approve stiff penalties against corporate America. Appointees get seats at important tables, but with Republicans in charge of major agencies, they have little policymaking power. But Donald Trump isn’t an ordinary Republican president, and the financial crisis of 2008 taught Democrats the value of committed watchdogs. The Gruenberg pick signals that Democrats have decided to postpone the real fight over the FDIC board for another day.

Source: Huffington Post May 10, 2018 21:00 UTC