Jim Clinger has asked the White House to withdraw his nomination to become chairman of the Federal Deposit Insurance Corp., citing family issues. The move will create a delay in filling yet another key financial post in the administration.
President Donald Trump nominated Clinger to the position last month, elevating the veteran House aide to one of the country’s most powerful banking regulatory jobs.
Clinger said he was “deeply grateful” to Trump for nominating him.
“It is therefore with a sense of regret that I have asked the White House to withdraw my nomination,” he said in a statement. “I did so after concluding that the family-related obligations that prompted me to leave government service earlier this year — which have grown more challenging in the interim — are incompatible with the demands of leading an important federal agency like the FDIC."
Clinger, the son of former Rep. William Clinger (R-Pa.), spent two decades on staff at the House Financial Services Committee, serving as its chief counsel. He left the committee in March.
Travis Norton, a Brownstein Hyatt Farber Schreck policy adviser who served with Clinger on the committee, said the family issues that precipitated Clinger stepping down from the panel earlier this year became more difficult in the last few weeks.
“Jim was eager to continue his service and was honored by the president’s nomination to chair the FDIC,” Norton said. But he “felt he could not devote himself fully to both his family and the FDIC.”
“Still, I wouldn’t bet against Jim’s return to government in the future if circumstances allow him to give 100 percent.”