Lafayette Reporter

Sen. John Kennedy (R-La.) has called for the resignation of Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg in an op-ed published in The Hill. The senator, who is a member of the Senate Banking Committee, highlights the allegations of sexual harassment within the FDIC and argues that a new leader is needed to restore professionalism at the agency.

In his op-ed, Kennedy draws attention to the reports of misconduct within the FDIC, comparing them to the film "Animal House." He states, "Reports of the conduct at the Federal Deposit Insurance Corporation (FDIC) read like a screenplay for ‘Animal House.’ What’s not funny is finding out that some of the same behavior—and worse—may have been happening for years at one of the agencies charged with supervising America’s banking system."

Kennedy references accounts from employees who spoke with the Wall Street Journal, describing a culture of excessive drinking, public urination, and sexual harassment within the FDIC. He mentions instances of trainees vomiting off the roof during boozy training conferences and hospitals visits due to excessive drinking. Kennedy emphasizes that there is no evidence of FDIC toga parties yet, alluding to the film's iconic scenes.

The senator places the blame on Chairman Martin Gruenberg, who has been with the FDIC since 2005 and served as chair or acting chair for nine of the past 18 years. Kennedy asserts that Gruenberg was aware of the abuse women faced at the FDIC and either failed to address it or turned a blind eye to it. He concludes that Gruenberg should resign, allowing a new leader to take charge and restore professionalism within the agency.

Kennedy concludes his op-ed by stating, "If Gruenberg wants to show his employees and the American people—for the first time in his nearly two decades of leadership—that he is doing something to end abuse, he should resign and allow a real leader to restore professionalism to the FDIC. Right now, it's #MeToo—except for the connected at the FDIC."

The senator's call for Gruenberg's resignation comes amidst the ongoing #MeToo movement, which has shed light on widespread sexual harassment and misconduct in various sectors. Kennedy's letter to Chair Gruenberg, urging his resignation, further emphasizes his stance on this matter.

As the allegations of sexual harassment within the FDIC continue to make headlines, it remains to be seen how Gruenberg and the agency will respond to the senator's call for change.

Click this link to access more information: https://www.kennedy.senate.gov/public/press-releases?ID=AB059707-ACC7-4E2B-814A-DE545AC3B6FC