NEW YORK — The most powerful Democrat in Congress on banking and financial issues called for President Joe Biden to replace the chairman of the Federal Deposit Insurance Corp. on Monday, saying the agency is broken and there must be “fundamental changes at the FDIC.
Republicans have been calling for Gruenberg to step down for some time. At Thursday’s hearing, Sen. Tim Scott, R-S.C. and the top Republican on the committee, detailed several stories of female FDIC workers who outlined extreme harassment and stalking by their coworkers, complaints that were dismissed by supervisors, according to the report.
The FDIC is one of several banking system regulators. The Great Depression-era agency is best known for running the nation’s deposit insurance program, which insures Americans’ deposits up to $250,000 in case their bank fails.Biden Camp Has a Field Day With Wobbly Trump at Podium "It's a disgrace that you would take a New York Times article and just read negative quotes," the congresswoman said to host Shannon Bream
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