Van Hollen, Colleagues Glance Forward to the FDIC Acquiring Back again to Small business

February 07, 2022

Now, Senator Chris Van Hollen (D-Md.) joined his Democratic colleagues on the Senate Banking, Housing, and City Affairs Committee, led by Chairman Sherrod Brown (D-Ohio) and which includes Senators Bob Menendez (D-N.J.), Mark Warner (D-Va.), Elizabeth Warren (D-Mass.), Tina Smith (D-Minn.), and Raphael Warnock (D-Ga.), in issuing the pursuing joint assertion regarding Marty Gruenberg stepping into the function of Performing Chairman of the Federal Deposit Insurance policies Company (FDIC). Gruenberg, a former FDIC Chairman and Vice Chairman, has served on the board because 2005. 

“The FDIC Board must continue its essential function aiding financial institutions and communities as our economic system recovers from COVID-19. Marty Gruenberg has had decades of encounter shepherding the FDIC through difficult economic occasions and recoveries, major on critical rulemakings adhering to the fiscal disaster, and holding hundreds of bipartisan Board votes by working with board members of the two functions,” claimed the Committee associates. “The FDIC retains our banking technique protected, insures our deposits, and assists guidance our nation’s smallest banks. With experienced management at the helm, the agency can return to addressing dangers to our economical program, raising obtain to affordable money companies to people, and making certain that banking companies honor their determination to communities across the country by the Group Reinvestment Act. We appear forward to functioning with Acting Chair Gruenberg to get the FDIC back to company.”