Clarksville Times

On May 20, 2024, Patrick McHenry (NC-10), Chairman of the House Financial Services Committee, issued a statement in response to Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg's announcement of his intent to resign once a successor is confirmed.

Chairman McHenry stated, “Chair Gruenberg is once again putting Democrats’ politicized regulatory agenda ahead of the wellbeing of the FDIC and the stability of our financial system. While his intent to resign will be welcome news to the FDIC employees who have been subjected to an appalling culture of misconduct and abuse—this announcement is too little, too late. Deep institutional changes at the FDIC are needed now. There is a clear succession plan in place and the agency’s operations would continue unabated if he rightly stepped down today. This is yet another example of Chair Gruenberg’s refusal to accept responsibility for his actions. I urge Democrats to join me in calling for Chair Gruenberg’s immediate termination.”