Key Senate Democrat calls for new leadership at FDIC

By Thomson Reuters May 20, 2024 | 9:20 AM

WASHINGTON (Reuters) – Senate Banking Committee Chairman Sherrod Brown called for new leadership at the troubled Federal Deposit Insurance Corporation Monday, urging President Joe Biden to immediately nominate someone to replace current Chairman Martin Gruenberg.

In a statement, Brown said there must be “fundamental changes” at the agency, after an external review found sweeping reports of employee mistreatment and sexual harrassment. He said he wanted the Senate to act “without delay” on any nominated replacement.

(Reporting by Pete Schroeder)