At a nominations hearing before the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Ranking Member Tim Scott (R-S.C.) expressed concerns regarding President Biden’s nominees for financial regulator posts. Scott criticized current FDIC Chair Martin Gruenberg’s leadership and called for his immediate resignation due to alleged workplace issues at the agency.
Scott questioned Christy Goldsmith Romero's qualifications for the FDIC role, citing her lack of bank regulatory experience. He also voiced concerns about Caroline Crenshaw's views on the SEC’s authority, particularly regarding climate disclosure rules.
In his opening remarks, Scott stated: “This administration wants to safeguard its progressive agenda no matter the cost.” He accused Gruenberg of allowing "rampant harassment, discrimination, and vile behavior" at the FDIC and criticized him for not stepping down despite bipartisan calls for his resignation.
Addressing Goldsmith Romero directly, Scott said: “While you’ve had a long career in public service, your background lacks the bank regulatory experience necessary to carry out the critical responsibilities of the FDIC.”
Regarding Crenshaw, Scott noted: “I have significant reservations over your nomination based on your views of what appears to be the limitless authority of the SEC.” He highlighted widespread concern over the SEC’s Climate Disclosure Rule and questioned Crenshaw's stance that it did not go far enough.
Scott concluded by emphasizing his frustration with what he perceives as political maneuvering by the Biden administration: “Real, meaningful change could be brought to the employees at the FDIC today if Marty Gruenberg would simply step down.”