Senate Banking Committee Chairman Sherrod Brown (D-Ohio) called on President Biden on Monday to replace the chairman of the Federal Deposit Insurance Corporation (FDIC) following reports of a toxic work environment at the agency.
Brown is the highest-ranking Democratic lawmaker to call for the resignation or replacement of FDIC Chairman Martin Gruenberg, a Democrat chosen by Biden to lead the top banking regulator.
“After chairing last week’s hearing, reviewing the independent report, and receiving further input from FDIC officials to the Banking and Housing Committee, I am left with one conclusion: There must be fundamental changes at the FDIC,” Brown said in a statement.
“These changes begin with new leadership, which must correct the agency’s toxic culture and put the women and men who work there – and its mission – first,” he continued. “That’s why I urge the President to immediately nominate a new chairman who can lead the FDIC in this challenging time, and for the Senate to act on that nomination without delay.”
Brown’s call to replace Gruenberg marks a significant shift for the Senate banking chairman, as he previously joined other Democrats in urging Gruenberg to make changes at the agency rather than resign.
While some Democrats have called for the FDIC chairman to resign, most of the pressure has come from Republican lawmakers.
Both sides accused each other of playing politics, with Republicans claiming that Democrats refused to call for Gruenberg’s resignation because it would undermine Biden’s regulatory agenda.
Likewise, Democrats accused their Republican colleagues of failing to recognize that problems also existed under the FDIC’s previous Republican leadership and of trying to gain a veto over Biden’s policymaking efforts.
“I hope the entire Banking and Housing Committee and Senate leaders, in both parties, will put politics aside and join this effort to bring new leadership to the agency to ensure a safe workplace for women and men who protect our financial system,” Brown added on Monday.
Updated at 10:32 a.m. EDT.
This story originally appeared on thehill.com read the full story
