S.Res. 742Senate118th Congress (2023-2025)In Committee

A 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.

Sponsored by Joni ErnstSen. Joni Ernst (R-IA)
Introduced June 20, 2024

AI-Generated Summary

Updated January 20, 2026 at 5:30 PM UTC

The Senate passed a resolution urging President Biden to remove Martin J. Gruenberg as chairman of the Federal Deposit Insurance Corporation. The resolution says the FDIC’s workplace has become toxic, with reports of sexual harassment, discrimination, and retaliation under Gruenberg’s leadership. It targets the FDIC’s leadership and aims to restore confidence in the agency’s culture.

Key Provisions

  • Condemns FDIC employees who contributed to or ignored a toxic workplace culture.
  • Demands that President Biden immediately dismiss Chairman Martin J. Gruenberg from his FDIC position.
  • Calls on remaining FDIC leaders to investigate all allegations of misconduct and hold responsible parties accountable.

Legislative Activity

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1 earlier action
SenateIntro Referral Latest Action

Referred to the Committee on Banking, Housing, and Urban Affairs. (text: CR S4182)

June 20, 2024

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SenateIntro Referral

Introduced in Senate

June 20, 2024

SenateIntro Referral

Referred to the Committee on Banking, Housing, and Urban Affairs. (text: CR S4182)

June 20, 2024

Floor Debate

2 members

What members said about S.Res. 742 on the floor

1 Republican1 Democrat
Joni Ernst
Sen. Joni ErnstR-IA · Jun 20, 2024

Mr. President, I rise today to remind this body that 42 days ago, it was confirmed that Martin Gruenberg fueled a toxic workplace culture at the FDIC. Yet he is still collecting a taxpayer- funded…

Debbie Stabenow
Sen. Debbie StabenowD-MI · Jun 20, 2024

Mr. President, reserving the right to object, first, I want to agree with my friend from Iowa. There is no question that we need a new FDIC Chair. We don't need a bunch of potshots on the President…

Bill Text

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Introduced in SenateIssued June 20, 2024

III

118th CONGRESS

2d Session

S. RES. 742

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

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.