FILE - Federal Deposit Insurance Corporation Board of Directors Chairman Martin Gruenberg, testifies during the House Committee on Financial Services hearing on oversight of prudential regulators, Wednesday, Nov. 15, 2023, on Capitol Hill in Washington.
Up until Monday, no Democrats had called for Gruenberg’s replacement, although several came very close to doing so in their own statements. Brown’s statement will likely lead to other Democrats to now call for Gruenberg’s removal.Regulators close Philadelphia-based Republic First Bank, first US bank failure this yearIn his statement, Brown did not call for Gruenberg to be fired.
“Marty — you’ve heard me say this to you directly — you should resign,” Scott said. “Your employees do not have confidence in you. And this is not a single incident. This spans over a decade-plus of your leadership at the FDIC.”