WASHINGTON BUREAU — The Senate Banking, Housing and Urban Affairs Committee plans to hold a confirmation hearing for Roy Woodall, the nominee for the independent insurance member seat on the Financial Stability Oversight Council (FSOC), Tuesday.
The committee expects to hold the Woodall hearing along with hearings for Martin Gruenberg, nominee for the post of chairman of the Federal Deposit Insurance Corp., and Thomas Curry, the nominee for the comptroller of the currency post, according to Sam Gilford, the spokesman for Sen. Tim Johnson, D-S.D., the committee chairman.
Woodall was nominated for the post June 28 by President Obama, who was under pressure from members of Congress to name the independent insurance member of FSOC as quickly as possible.
It is unclear whether Congress has enough time to complete the Woodall confirmation process before it leaves for a one-month summer recess in August.
Woodall was Kentucky insurance commissioner from 1966 to 1967. He retired from the U.S. Treasury Department in January after serving since 2002 as the department’s senior insurance policy analyst.
Woodall also has been president of the National Association of Life Companies. After NALC merged into the American Council of Life Insurers (ACLI), Washington, he was the ACLI’s managing director for issues, and vice president and chief counsel for state relations.