Sen. Elizabeth Warren urges the FDIC to reevaluate the decision to rescind job offers to bank examiners due to staffing shortages threatening banking system stability. Warren and other senators highlight how the lack of examiners contributed to a bank failure in March 2023.
The promise of bank insurance is being tested by the crisis surrounding online-only lenders with millions of dollars in deposits. Customer accounts have been frozen, and depositors are unsure if they will get their money back.
Republicans are calling for FDIC Chairman Martin Gruenberg to resign due to a report detailing hostile, abusive, and unprofessional conduct at the agency under his watch.