[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 742 Introduced in Senate (IS)]
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118th CONGRESS
2d Session
S. RES. 742
Expressing the sense of the Senate that President Joseph R. Biden must
dismiss Chairman Martin J. Gruenberg from his employment at the Federal
Deposit Insurance Corporation.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
June 20, 2024
Ms. Ernst submitted the following resolution; which was referred to the
Committee on Banking, Housing, and Urban Affairs
_______________________________________________________________________
RESOLUTION
Expressing the sense of the Senate that President Joseph R. Biden must
dismiss Chairman Martin J. Gruenberg from his employment at the Federal
Deposit Insurance Corporation.
Whereas, on November 13, 2023, the Wall Street Journal published an expose
entitled ``Strip Clubs, Lewd Photos and a Boozy Hotel: The Toxic
Atmosphere at Bank Regulator FDIC'' detailing the extremely toxic,
misogynistic, workplace culture rife with sexual harassment and other
serious misconduct at the Federal Deposit Insurance Corporation
(referred to in this preamble as ``FDIC'');
Whereas, on November 16, 2023, the Wall Street Journal published a second expose
entitled ``FDIC Chair, Known for Bad Temper, Ignored Bad Behavior in
Workplace'';
Whereas, following the public revelation of this scandal, the FDIC enlisted a
third-party fact-finding team to investigate the workplace culture of
the FDIC;
Whereas the FDIC published the report of the third-party investigators on May 7,
2024;
Whereas the report of the third-party investigators found that, under the
leadership of Chairman Martin J. Gruenberg, ``the FDIC has failed to
provide a workplace safe from sexual harassment, discrimination, and
other interpersonal misconduct'';
Whereas, under the leadership of Chairman Martin J. Gruenberg, FDIC employees
fear retaliation and do not trust the FDIC to investigate or address
allegations of improper workplace conduct;
Whereas investigators determined not a single FDIC employee faced serious
discipline after being found to have engaged in workplace misconduct;
Whereas investigators determined Chairman Martin J. Gruenberg routinely acts
with inappropriate anger and antagonism toward his employees;
Whereas reports indicate Chairman Martin J. Gruenberg and his leadership team
have been directly involved in high-level examples of sexism,
harassment, and discrimination and failed to properly discipline those
individuals responsible;
Whereas investigators determined the anger and antagonism of Chairman Martin J.
Gruenberg ``may hinder his ability to establish trust and confidence in
leading meaningful culture change, and so too may his apparent inability
or unwillingness to recognize how others experience certain difficult
interactions with him''; and
Whereas investigators determined that for the current challenges plaguing the
FDIC to be overcome, there must be a change in leadership: Now,
therefore, be it
Resolved, That the Senate--
(1) condemns those employees of the Federal Deposit
Insurance Corporation (referred to in this resolution as
``FDIC''), known and unknown, who turned the FDIC workplace
culture toxic or looked the other way while others did so;
(2) demands that President Joseph R. Biden dismiss Chairman
Martin J. Gruenberg from employment at the FDIC immediately, as
he no longer holds the confidence of the Senate or of the
people of the United States; and
(3) calls on those individuals remaining in FDIC leadership
positions to take all appropriate steps to investigate all
allegations of criminality and impropriety to hold bad actors
accountable for their actions.
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