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McHenry Slams Nomination of Martin Gruenberg to Lead the FDIC

Washington, Nov 14 -

Today, the top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement in response to President Biden announcing his intent to nominate Martin Gruenberg to serve as Chair of the Federal Deposit Insurance Corporation’s (FDIC) Board of Directors.

“President Biden’s appointment of Martin Gruenberg as Chair of the FDIC shows this administration has no plans to work across the aisle to build a more inclusive financial system,” said Republican Leader McHenry. “Instead of nominating a fresh, dynamic candidate who understands the rapidly changing role of technology in banking, the White House has opted for more of the same. Not only has acting Chair Gruenberg been a rabid partisan at the FDIC for more than a decade, but he also was a key player in Democrats’ scheme to wrest control of the Board from then-Chair Jelena McWilliams. Nominating someone who has shown complete disregard for the Board’s 88-year tradition of independence and its norms is unacceptable.”

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