Martin J. Gruenberg is the Acting Chairman of the Federal Deposit Insurance Corporation

Federal Deposit Insurance Corporation

The Federal Deposit Insurance Corporation is a United States government corporation created by the Glass–Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank. , the FDIC insures deposits at...

 Board of Directors. He also served as the Acting Chairman for the FDIC Board of Directors following the resignation of Former Chairman Donald Powell.

Career

Gruenberg was sworn in as the Vice Chairman of the FDIC Board of Directors on August 22, 2005. Following the resignation of Chairman Donald Powell, Gruenberg served as the Acting Chairman for the board from November 15, 2005 to June 26, 2006. Prior to joining the FDIC Board, he served as the Senior Counsel to Senator Paul S. Sarbanes from 1993-2005. From 1987 to 1992, he served as Staff Director for the Senate Banking Committee's

United States Senate Committee on Banking, Housing, and Urban Affairs

The United States Senate Committee on Banking, Housing, and Urban Affairs has jurisdiction over matters related to: banks and banking, price controls, deposit insurance, export promotion and controls, federal monetary policy, financial aid to commerce and industry, issuance of redemption of notes,...

 Subcommittee on International Finance and Monetary Policy. Gruenberg is said to have played a major role in legislation which includes the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), Federal Deposit Insurance Corporation Improvement Act of 1991

Federal Deposit Insurance Corporation Improvement Act of 1991

The Federal Deposit Insurance Corporation Improvement Act of 1991 , passed during the Savings and loan crisis, strengthened the power of the Federal Deposit Insurance Corporation....

 (FDICIA), the Gramm-Leach-Bliley Act

Gramm-Leach-Bliley Act

The Gramm–Leach–Bliley Act , also known as the Financial Services Modernization Act of 1999, is an act of the 106th United States Congress...

, and the Sarbanes-Oxley Act of 2002.

In April 2011, Congressman

United States House of Representatives

The United States House of Representatives is one of the two Houses of the United States Congress, the bicameral legislature which also includes the Senate.The composition and powers of the House are established in Article One of the Constitution...

 Barney Frank

Barney Frank

Barney Frank is the U.S. Representative for . A member of the Democratic Party, he is the former chairman of the House Financial Services Committee and is considered the most prominent gay politician in the United States.Born and raised in New Jersey, Frank graduated from Harvard College and...

 speculated that President Barack Obama

Barack Obama

Barack Hussein Obama II is the 44th and current President of the United States. He is the first African American to hold the office. Obama previously served as a United States Senator from Illinois, from January 2005 until he resigned following his victory in the 2008 presidential election.Born in...

 would nominate Gruenberg to be the next Chairman of the FDIC.

Personal life

Gruenberg holds a J.D.

Juris Doctor

Juris Doctor is a professional doctorate and first professional graduate degree in law.The degree was first awarded by Harvard University in the United States in the late 19th century and was created as a modern version of the old European doctor of law degree Juris Doctor (see etymology and...

 from Case Western University School of Law and an A.B. from Princeton University

Princeton University

Princeton University is a private research university located in Princeton, New Jersey, United States. The school is one of the eight universities of the Ivy League, and is one of the nine Colonial Colleges founded before the American Revolution....

, Woodrow Wilson School of Public and International Affairs.