Senator Richard Shelby, the leading Republican on banking issues, has finally thrown support to one of the White House’s nominees in government agency leadership. In recent months, Shelby’s opposition helped sink the nominations of Peter Diamond to be a governor of the Federal Reserve Board and Joseph Smith to be director of the Federal Housing Finance Agency. But now he’s singing a different tune with the FDIC.
“I believe he is a credible, honest man and I look forward to supporting him,” Shelby told Reuters in an interview about Martin Gruenberg.
