On 5/16/2024, Federal Deposit Insurance Corp. Chairman Martin Gruenberg sat for a second day of grilling in Senate, this time at the Senate Banking Committee, after a damning report about the agency’s toxic workplace culture was released last week. The hearing was called to address oversight of financial regulators including the Office of the Comptroller and the Federal Reserve, but two days of testimony have largely focused on the workplace culture at the FDIC and failures, according to the report, by Gruenberg in preventing hundreds of instances of harassment and discrimination against employees.

Sen. John Kennedy said he plans to introduce a bill that will extend the statute of limitations for FDIC employees to file suit over the abuses they experienced while employed at the agency. “Have you ever heard the expression – a fish rots from the head down?” Sen. John Kennedy (R-LA) asked Gruenberg, saying “you’re not going to be able to clean up the FDIC because you’re going to be too busy defending yourself in court.”

“You fixing this agency Mr. Gruenberg is like asking Alec Baldwin to conduct a course in gun safety,” Kennedy said.

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Kennedy to FDIC Chairman: apologize to the female employees sitting behind you, fish rots from head down