Rep. French Hill (AR-02) released the following statement after President Biden announced his intent to nominate Martin Gruenberg to serve as Chair and Member of the Board of Directors of the Federal Deposit Insurance Corporation (FDIC):
"I am disappointed to see the White House nominate Martin Gruenberg to be the Chairman of the FDIC again. If his last term is any indication, we can expect the FDIC to return to "Operation Choke Point 2.0" to pressure banks to cut off capital and investment to legally operating but politically disfavored industries, like it did under his leadership in the Obama Administration. Mr. Gruenberg must commit at his confirmation hearing that the FDIC will not criticize, discourage, or prohibit banks from doing business with customers who are operating consistent with federal and state law. I look forward to hearing the views of President Biden's other two FDIC nominees, Johnathan McKernan and Travis Hill."