The Bank Slate


Key Democrat presses White House to replace FDIC chairman

An influential lawmaker is encouraging the White House to replace Federal Deposit Insurance Corp. Chairman Martin Gruenberg.

Sen. Sherrod Brown, D-Ohio, who chairs the Senate Banking Committee, said in a statement that “fundamental changes” are needed at the FDIC.

“Those changes begin with new leadership, who must fix the agency’s toxic culture and put the women and men who work there — and their mission — first,” Brown added.

Brown said his statement came after he chaired an intense hearing with Gruenberg last week, along with a review of an independent report that detailed multiple workplace misbehavior issues at the FDIC. Brown also said his committee had received “further outreach from FDIC employees.”

Separately, former FDIC Chairman Sheila Bair wrote on X (formerly Twitter) that she believes Gruenberg should resign.

“There is a desperate need for change at the FDIC,” Bair wrote. “This controversy is hurting him and his agency.”

Leave a Reply

Your email address will not be published. Required fields are marked *