FDIC Chairman to Address Agency’s Culture Issues in Hearing

May 15, 2024 5:08 pm
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FDIC Chairman Martin Gruenberg is set to testify before the House Financial Services Committee, roughly a week after a scathing report detailed a culture rife with sexual harassment and discrimination at his agency.
This hearing, and another with the Senate tomorrow, could decide whether Gruenberg keeps his job after some lawmakers called for him to resign.
In prepared remarks, Gruenberg said he accepts the findings of the report and takes responsibility. He also apologized for his temperament in meetings, after the report found he was easily angered.
He said the agency has already begun implementing recommendations from the report to address the issues.
The hearing, scheduled prior to the report’s release, will also cover banking industry topics. It begins at 10 A.M. Wednesday.

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