U.S. President Donald Trump this week nominated Travis Hill, the acting chair of the Federal Deposit Insurance Corp, to lead the key U.S. bank regulator, Bloomberg News reported Wednesday, citing a White House official.

Hill was widely seen as the top contender to take the job on a permanent basis. He has served as FDIC's vice chair since 2023.

He had previously served as a senior adviser to then FDIC Chairman Jelena McWilliams during Trump's first term.

Reuters could not immediately verify the report. FDIC did not immediately respond to Reuters' request for comment.