Senate Banking Committee Issues Opening Statement From FDIC Vice Chairman Nominee Hill

WASHINGTON, Dec. 8 -- Senate Banking, Housing and Urban Affairs Committee issued the following opening statement by Travis Hill, President Biden's nominee to be vice chairman and board member of the Federal Deposit Insurance Corporation, at a Nov. 30, 2022, confirmation hearing:

* * *

It is an honor to have been nominated by the President to serve as a member of the Board of Directors at the Federal Deposit Insurance Corporation, and to appear before you today.

Joining me this morning are my wife Lauren and my son Wesley, while my daughter Whitney is watching from afar. I am continually grateful for all their love and support. I am also joined by my parents, John and Nicole, who have travelled here from New York, and from whom I have learned the importance of hard work, responsibility, and too many life lessons to list.

Public service is something I do not take lightly. All 4 of my grandparents came to this country as immigrants, including two who were German Jews escaping the Nazis. Both of my grandfathers subsequently volunteered to fight in World War II, and in the ensuing years, one of them rose to manage a chain of restaurants despite never having attended high school, while the other started a company importing minerals from India. I grew up with a deep appreciation for all this country has to offer.

I spent five and a half years working as a staff-member for this Committee. I am extremely grateful to Senators Crapo and Shelby for the opportunity. During that time, I worked on a number of bipartisan bills, including the Economic Growth, Regulatory Relief, and Consumer Protection Act, commonly referred to as S. 2155, which was signed into law in May 2018. I spent countless hours working with staff on both sides of the aisle. Through this experience, I developed a deep understanding of the ins and outs of banking laws and regulations, the value of bipartisan cooperation, and the vital oversight role Congress plays in holding government agencies accountable to the American people.

After leaving Capitol Hill, I worked at the FDIC as an advisor to Chairman Jelena McWilliams and as her deputy for policy. In this role, I was involved in a range of FDIC policymaking initiatives, represented the agency in a number of different venues, and helped lead the agency through the Covid-19 pandemic. This experience reinforced my appreciation of the critical role the FDIC plays in promoting the safety and soundness of banks and the stability of the banking system, and ensuring that American workers and families have a safe, accessible place to leave their hard-earned savings. I also saw firsthand the exceptional expertise and experience of the FDIC staff. I look back on my time at the FDIC with great fondness, and am excited about the opportunity to return if confirmed.

Over the course of my career, I have seen the importance of a well-tailored regulatory framework that promotes economic growth, innovation, and broad access to credit, while ensuring our nation's banks remain safe, sound, and resilient to shocks. I have also grown to deeply appreciate the value of a banking sector with institutions of many different sizes and business models, including community banks and minority depository institutions that play a crucial role in their local communities.

If confirmed, I look forward to working with members of this Committee to ensure the FDIC continues to fulfill its critical mission, as it has done for the past 89 years.

Thank you, and I look forward to your questions.

* * *

Original text here: https://www.banking.senate.gov/download/hill-testimony-11-30-22