III 

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’’; 


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2 

•SRES 742 IS 

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 highlevel 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 


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3 

•SRES 742 IS 

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 

1 Resolved, That the Senate— 

2 (1) condemns those employees of the Federal 

3 Deposit Insurance Corporation (referred to in this 

4 resolution as ‘‘FDIC’’), known and unknown, who 

5 turned the FDIC workplace culture toxic or looked 

6 the other way while others did so; 

7 (2) demands that President Joseph R. Biden 

8 dismiss Chairman Martin J. Gruenberg from em9 ployment at the FDIC immediately, as he no longer 

10 holds the confidence of the Senate or of the people 

11 of the United States; and 

12 (3) calls on those individuals remaining in 

13 FDIC leadership positions to take all appropriate 

14 steps to investigate all allegations of criminality and 

15 impropriety to hold bad actors accountable for their 

16 actions. 

Æ 


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