Senate Banking Chair Brown calls on Biden to replace embattled FDIC head

[brooklynite]

Source: Politico

Senate Banking Chair Sherrod Brown on Monday called on President Joe Biden to replace FDIC Chair Martin Gruenberg, after damning reports of a toxic workplace culture at the bank regulator where Gruenberg has served for nearly two decades.

Brown said in a statement that there must be “fundamental change” at the FDIC, which insures more than $10 trillion in bank deposits and oversees thousands of financial institutions, in a move that is likely to turn the tide against the agency head with other Democrats as well.

“Those changes begin with new leadership, who must fix the agency’s toxic culture and put the women and men who work there — and their mission — first,” he said. “That’s why I’m calling on the President to immediately nominate a new Chair who can lead the FDIC at this challenging time and for the Senate to act on that nomination without delay.”

Brown’s statement is a break with Sen. Elizabeth Warren (D-Mass.) who has said she has confidence in Gruenberg’s ability to effect change. Gruenberg testified at hearings before House and Senate lawmakers last week, where Democrats stopped just shy of calling for the agency head’s ouster.

Read more: https://www.politico.com/news/2024/05/20/brown-calls-on-biden-to-replace-embattled-fdic-head-00158864?lctg=136755346

[Traurigkeit]

1. (Politico) & (TheHill)

So quick to jump on anything near negative in the Democratic area.

Not so much in the Republican area

[brooklynite]

2. How is this negative for Democrats?

And how is reporting what a US Senator says publicly not newsworthy?

CNBC: Senate Banking Chair Sherrod Brown calls for new FDIC leadership after misconduct report
Wall Street Journal: Key Senate Democrat Sherrod Brown Seeks Ouster of FDIC Chairman
CNN: Senate Banking Committee Chair calls for ‘new leadership’ at the FDIC following scathing report
NY Times: Bank Regulator Overseeing 'Toxic' Culture Loses Key Supporter in Senate
Bloomberg: FDIC Chair's Resignation Pressure Rises With Key Senate Democrat Urging Change

[TheProle]

3. How is shitcanning

a man who allowed this crap to fester a bad thing for Democrats?

Sen Brown and Biden both look just fine rectifying this.