ChainCatcher News: Martin Gruenberg, Chairman of the Federal Deposit Insurance Corporation (FDIC), has announced that he will resign the day before Trump takes office (January 19). Democrat Gruenberg confirmed his departure in a message to FDIC employees and stated that he has informed the outgoing President Biden of his decision.

The Federal Deposit Insurance Corporation (FDIC) is responsible for providing insurance for deposits, reviewing and supervising financial institutions for the purpose of protecting consumers, and managing failed banks, thereby maintaining the stability of the U.S. financial system and public confidence.