Banking Committee Democrats Look Forward to the FDIC Getting Back to Business
WASHINGTON, D.C. – Today, Democrats on the Senate Banking, Housing, and Urban Affairs Committee, led by Chairman Sherrod Brown (D-OH) and including Sens. Bob Menendez (D-NJ), Mark Warner (D-VA), Elizabeth Warren (D-MA), Chris Van Hollen (D-MD), Tina Smith (D-MN), and Raphael Warnock (D-GA) issued the following joint statement regarding Marty Gruenberg stepping into the role of Acting Chairman of the Federal Deposit Insurance Corporation (FDIC). Gruenberg, a former FDIC Chairman and Vice Chairman, has served on the board since 2005.
“The FDIC Board must continue its important work helping banks and communities as our economy recovers from COVID-19. Marty Gruenberg has had years of experience shepherding the FDIC through difficult economic times and recoveries, leading on important rulemakings following the financial crisis, and holding hundreds of bipartisan Board votes by working with board members of both parties,” said the Committee members. “The FDIC keeps our banking system safe, insures our deposits, and helps support our nation’s smallest banks. With experienced leadership at the helm, the agency can return to addressing risks to our financial system, increasing access to affordable financial services to consumers, and ensuring that banks honor their commitment to communities across the country through the Community Reinvestment Act. We look forward to working with Acting Chair Gruenberg to get the FDIC back to business.”
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