Press Releases

McHenry on Gruenberg’s Intent to Resign: This Announcement is Too Little, Too Late

Washington, May 20, 2024 -

Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement after disgraced Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg announced his intent to resign once a successor is confirmed.

“Chair Gruenberg is once again putting Democrats’ politicized regulatory agenda ahead of the wellbeing of the FDIC and the stability of our financial system,” said Chairman McHenry. “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.”

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