Expressing the sense of the Senate that President Joseph R. Biden must dismiss Chairman Martin J. Gruenberg from his employment at the Federal Deposit Insurance Corporation.

Finance and Financial Sector
senate

Introduced on June 20, 2024 by Joni Ernst

Legislation Details

  • The resolution expresses the Senate’s view that President Joseph R. Biden should dismiss Martin J. Gruenberg from his position at the Federal Deposit Insurance Corporation (FDIC).
  • It references two exposés published by the Wall Street Journal detailing a toxic and misogynistic workplace culture at the FDIC, including sexual harassment and misconduct.
  • A third-party investigation into the FDIC’s workplace culture was conducted, with its report published on May 7, 2024.
  • The investigation found the FDIC under Gruenberg’s leadership failed to provide a safe workplace free from sexual harassment, discrimination, and misconduct.
  • Employees feared retaliation and lacked trust in the FDIC’s ability to handle allegations of improper conduct.
  • No FDIC employee faced serious discipline after being found guilty of workplace misconduct.
  • Gruenberg is described as often acting with inappropriate anger and antagonism towards employees.
  • The investigation highlighted Gruenberg and his leadership team’s direct involvement in instances of sexism, harassment, and discrimination without adequately disciplining those responsible.
  • Gruenberg’s behavior is said to potentially hinder his ability to lead meaningful culture change due to his anger, antagonism, and apparent inability or unwillingness to recognize how his actions are perceived by others.
  • The resolution concludes that overcoming the FDIC’s current challenges requires a change in leadership.
  • The Senate condemns FDIC employees who contributed to or ignored the toxic workplace culture.
  • It demands President Biden immediately dismiss Gruenberg due to a loss of confidence by the Senate and the public.
  • The resolution calls on remaining FDIC leadership to investigate all allegations of criminality and impropriety to hold responsible parties accountable.

Last updated 8/7/2024