(Bloomberg) -- The White House is preparing to pick Christy Goldsmith Romero, a top US derivatives regulator, to lead a revamp at the Federal Deposit Insurance Corp., according to a person familiar with the matter.

Goldsmith Romero, a Democratic commissioner at the Commodity Futures Trading Commission since 2022, would take over an agency that has been riddled with allegations of workplace discrimination and harassment. An announcement could come as soon as this week, though no final decision has been made, said the person, who asked not to be identified discussing the nomination.

Goldsmith Romero declined to comment on the White House’s plans, which were first reported by the Wall Street Journal.

The FDIC, a key US bank regulator, has been at the center of a political firestorm since law firm Cleary Gottlieb Steen & Hamilton released a report detailing a toxic workplace at the regulator. Martin Gruenberg, the current chair, buckled to political pressure last month and said he would step down once his successor is confirmed by the Senate.

The FDIC probe didn’t accuse Gruenberg of misconduct. However, the findings questioned whether he was the right person to lead needed reforms at the agency, citing his temper. Gruenberg has apologized repeatedly to staff since the report was released. 

The White House has held conversations with candidates to replace Gruenberg over the past few weeks. Kristin Johnson, another Democrat on the CFTC, was also in the running.

If confirmed, Goldsmith Romero, who earlier in her career led government oversight of the Troubled Asset Relief Program and served in senior roles at the Securities and Exchange Commission, would be charged with cleaning up the regulator.

She’d also play a key role in finalizing US rules that would force Wall Street banks to hold significantly more capital. The FDIC, Federal Reserve and the Office of the Comptroller of the Currency are weighing changes to a plan they released last July. 

--With assistance from Austin Weinstein.

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