Versions :<123Live
Snapshot 3:Mon, May 20, 2024 9:26:27 PM GMT last edited by NickBurk

Ranking Democrat Suggests Biden Fire FDIC Chair

Ranking Democrat Suggests Biden Fire FDIC Chair

Ranking Democrat Suggests Biden Fire FDIC Chair
Above: Martin Gruenberg, Chair of the Federal Deposit Insurance Corporation (FDIC) testifies before the Senate Banking, Housing, and Urban Affairs Committee on Capitol Hill on May 16, 2024 in Washington, DC. Image credit: Kevin Dietsch/Staff/Getty Images News via Getty Images

The Spin

Gruenberg should resign immediately and Democrats should prioritize doing the right thing over politics and ajoing Republicnas in calling for him to step down. Democrats have called for numerous officials to be fired or to resign over similar improprieties, and Gruenberg's status as a Democrat shouldn't protect him.

In an ideal world, Gruenberg would be replaced, but political logistics make the move risky. Regardless of how quickly the Senate acts, it could be months to name his replacement. This could leave the FDIC in a weak position for promoting key reforms during a time of banking uncertainty.

Metaculus Prediction

There's a 50% chance that 138 or more FDIC banks will fail in 2023 through 2030, according to the Metaculus prediction community.


Public Figures


Articles on this story



© 2026 Improve the News Foundation. All rights reserved.Version 6.18.0

© 2026 Improve the News Foundation.

All rights reserved.

Version 6.18.0