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The Financial Services Committee, led by Chairman Patrick McHenry, has released a final staff report investigating the workplace culture at the Federal Deposit Insurance Corporation (FDIC) under Chair Martin Gruenberg. The report highlights a toxic work environment, prompting calls for Gruenberg's resignation from several committee members, including Representative Fitzgerald. During a recent hearing, Representative Frank Lucas criticized a proposed board governance rule by the FDIC, arguing it would compromise risk management practices and increase risks within the banking system. Additionally, Representative Beatty pointed out perceived hypocrisy among GOP members regarding accountability for misconduct, contrasting past FDIC issues with current allegations against President-elect nominees.
In today's @FinancialCmte hearing, I highlighted GOP hypocrisy in focusing on past FDIC misconduct issues while ignoring the sexual misconduct claims against the President-elect’s nominees. Accountability isn’t selective. Click the 🔗 to watch my full reamrks:… https://t.co/utFcT4G6K1
The FDIC’s proposed board governance rule would undermine sound risk management practices and introduce massive risk into the banking system. I pressed the need to withdraw this rule with Chair Gruenberg at today’s @FinancialCmte hearing. Watch below⬇️ https://t.co/0lCmEVlBan
#WATCH: Chairman @PatrickMcHenry to Biden's banking regulators: "The era of post-financial crisis regulation is over.” Read more 🔗 https://t.co/EzWs9ocVF2 📺 Watch his opening remarks 👇 https://t.co/21tZUh6T2t