Following a recently released report detailing allegations of widespread abuse and misconduct at the FDIC, Congressman Luetkemeyer released the following statement calling for Chairman Gruenberg’s resignation:

“FDIC Chairman Marty Gruenberg has overstayed his welcome at the FDIC.  His abuse of authority and evasion of accountability began when he spearheaded Operation Chokepoint.  To date, he has evaded responsibility for his actions, establishing a dangerous precedent where ideology and partisan biases dictate our regulatory direction.  His failure to lead, disregard for managerial duties, and inability to operate as a responsible employer and regulator have reached a critical juncture with this damning report the FDIC commissioned to look into its workplace culture,”  said Congressman Luetkemeyer.  “The U.S. banking system needs regulators who prioritize the safety and security of our financial institutions, free from the misuse of power and a persistent lack of accountability for their actions.  Marty Gruenberg fails to meet this standard, and I have no confidence in either his ability or moral authority to turn things around at an agency he has loitered about for nearly two decades. He needs to resign immediately.”

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