InfoBytes Blog
Biden nominates Sandra L. Thompson as FHFA Director
On December 14, President Biden nominated Sandra L. Thompson to serve as FHFA Director. Thompson has served as acting Director since June following the U.S. Supreme Court’s split decision in Collins v. Yellen, which held that it was unconstitutional for FHFA’s leadership structure to only allow the President to fire the FHFA director for cause. (Covered by InfoBytes here.)
According to the announcement, Thompson’s “over four decades of government experience in financial regulation, risk management, and consumer protection” includes previously serving as Deputy Director of FHFA’s Division of Housing Mission and Goals where she oversaw the agency’s housing and regulatory policy, capital policy, financial analysis, and fair lending space, as well as all mission activities for the GSEs and the Federal Home Loan Banks. Thompson also worked for more than 23 years at the FDIC where she served in a variety of leadership positions. Her most recent position at the FDIC was Director of the Division of Risk Management Supervision. Thompson also led the FDIC’s “examination and enforcement program for risk management and consumer protection at the height of the financial crisis” and “the FDIC’s outreach initiatives in response to a crisis of consumer confidence in the banking system.”