Trump Names Acting Leadership at Treasury, FDIC, Other Agencies (January 20, 2025)

Summary

News report dated January 20, 2025 on the acting leaders President Trump designated on taking office. They include David Lebryk as acting Treasury secretary pending the confirmation of Scott Bessent, Travis Hill as acting FDIC chairman following the resignation of Martin Gruenberg, Mark Uyeda as acting Securities and Exchange Commission chairman and Everett Woodel as acting SBA administrator pending the confirmation of Kelly Loeffler. Kyle Hauptman was named NCUA chairman, Brendan Carr FCC chairman and Andrew Ferguson FTC chairman. The report says no personnel announcements had been made for the OCC or the CFPB as of Monday evening. It adds that an executive order bars agencies from issuing proposed rules until a head appointed or designated by Trump reviews and approves them, and asks agencies to consider postponing by 60 days the effective date of published rules.

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Trump names acting leadership at Treasury, FDIC, other agencies

January 20, 2025

Reading Time: 2 mins read

Immediately upon assuming office Monday, President Trump designated several chairs and acting heads of agencies and departments . Among agencies relevant to financial services, Trump designated the following:

- David Lebryk, fiscal assistant secretary of the treasury and the highest career official at the Treasury Department, as acting secretary pending the confirmation of nominee Scott Bessent .
- FDIC Vice Chairman Travis Hill as acting FDIC chairman following the resignation of Martin Gruenberg.
- Securities and Exchange Commission member Mark Uyeda as acting chairman pending the confirmation of nominee Paul S. Atkins .
- National Credit Union Administration board member Kyle Hauptman as NCUA chairman.
- Everett Woodel, district director for central and southern Ohio at the Small Business Administration, as acting SBA administrator pending the confirmation of nominee Kelly Loeffler.
- Federal Communications Commission member Brendan Carr as FCC chairman.
- Federal Trade Commission member Andrew Ferguson as FTC chairman.

As of Monday evening, the White House had made no personnel announcements related to the OCC or the CFPB.

The White House also issued an executive order to prevent federal agencies from issuing proposed rulemaking until a department or agency head appointed or designated by Trump reviews and approves the rule. The order calls on agencies to withdraw any rules that have been sent to the Office of the Federal Register but not published in the Federal Register, and to consider postponing by 60 days from the date of the order the effective date for any rules that have been published in the Federal Register.

In related news, ABA President and CEO Rob Nichols congratulated Trump and Vice President Vance on their inauguration.

“America’s banks stand ready to work with the Trump-Vance administration to advance policies that promote a healthy economy for all, pursue rational regulation that preserves Main Street access to capital and credit, and foster a competitive financial services marketplace,” Nichols said. “Our Blueprint for Growth provides a roadmap for the new administration and Congress to follow that will help drive economic growth and allow the customers and communities we serve to thrive.”

Editor’s note: This article originally referred to the Office of the Federal Register as the Office of Financial Research and has been corrected. We regret the error.

Tags: Regulatory burden

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