Rep. Patrick McHenry, R-N.C., who chairs the House Financial Services Committee, has asked Federal Deposit Insurance Corp. Chair Martin Gruenberg to testify on June 12 regarding allegations of widespread instances of sexual harassment and discrimination at the agency spanning decades.
Bloomberg News
WASHINGTON — Rep. Patrick McHenry, R-N.C., chairman of the House Financial Services Committee, has set a date for a hearing that specifically examines the Federal Deposit Insurance Corp.'s workplace culture on June 12.
McHenry, in the letter, demanded that Gruenberg testify at the second of two panels on June 12, to understand how Gruenberg "will address the FDIC's workplace culture as chairman."
"Your appearance is critical so that Congress can ensure its banking agencies are acting to maintain stability and public confidence in the nation's financial system," McHenry said.
The online consumer lender beat revenue expectations in the first quarter, but its net income was dragged down by larger provisions that the company attributed to tariff "uncertainty."
The card processor came up short on expected profits but hit analysts' estimates on revenue in the second quarter of its fiscal 2025. CEO Ryan McInerney said growth in payments volume, cross-border volume and processed transactions were strong even in the face of shaky economic conditions.
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