House Financial Services Committee Chairman Patrick McHenry (NC-10) has sent letters to Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg, Acting Comptroller of the Currency Michael Hsu, and FDIC Director Johnathan McKernan. The letters demand their appearance before the Committee to testify following an independent report that confirmed accounts of widespread misconduct at the FDIC.
The House Financial Services Committee will hold a two-panel hearing on Wednesday, June 12, 2024, at 10:00 am in 2128 Rayburn. The hearing will address the findings of the Cleary Gottlieb report. Director McKernan, Acting Comptroller Hsu, and a representative from Cleary Gottlieb will testify on the first panel. Chairman Gruenberg will testify on the second panel.
The Cleary Gottlieb report outlines a toxic workplace culture at the agency and verbally abusive behavior by Chair Martin Gruenberg. Republicans on the House Financial Services Committee are seeking to hold Chair Gruenberg accountable for these issues and understand how he is implementing recommendations from Cleary Gottlieb.
Read Chairman McHenry’s letter to Chair Gruenberg here.
Read Chairman McHenry’s letter to Acting Comptroller Hsu and Director McKernan here.