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From Politico: Martin Gruenberg, the longtime head of the Federal Deposit Insurance Corp., said Tuesday he plans to resign at the end of the Biden administration, clearing the way for President-elect Donald Trump to appoint a new head of the banking regulator.
Gruenberg, a Democrat, said he would resign effective Jan. 19, the day before Trump’s inauguration.
“Earlier today I informed the President that I will retire as Chairman and Member of the Board of Directors of the FDIC effective January 19, 2025,” Gruenberg wrote in a message to agency employees.
The decision averts what could have been a potential legal fight if Gruenberg were to stay and be immediately fired by Trump next year.
The report notes that multiple lawmakers had already been calling for Gruenberg to step down after an external investigation earlier this year revealed the FDIC fostered a toxic workplace culture that subjected employees to pervasive sexual harassment and other misconduct.
Responding to Gruenberg’s resignation plans, Sen. Katie Britt (R-Ala.) wrote, “Finally. But his resignation should have come months ago. He shouldn’t be in that seat for one more minute.”
Finally. But his resignation should have come months ago. He shouldn’t be in that seat for one more minute. https://t.co/xFfOSNPGAZ
— Senator Katie Boyd Britt (@SenKatieBritt) November 19, 2024
Embattled FDIC Chair Gruenberg says he will resign Jan. 19 https://t.co/v3RIMP52ZB
— POLITICO (@politico) November 19, 2024
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