McHenry bashes FDIC chief for ‘hubris’ in attending hearing despite calls to resign

Embattled Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg took the hot seat in front of the House Financial Services Committee on Wednesday morning following a scathing report on widespread sexual harassment and discrimination at his agency.

“Showing up today is not an act of courage. It’s an act of hubris,” Rep. Patrick McHenry (R-N.C.), chair of the Financial Services panel, told Gruenberg. McHenry and numerous other Republicans have called for Gruenberg to resign.

Gruenberg has faced pressure for months after The Wall Street Journal released a bombshell report last year documenting a culture of sexual harassment, misconduct and retaliation at the top bank regulator. A report issued last week by law firm Cleary Gottlieb Steen & Hamilton confirmed the Journal’s findings and highlighted stunning instances of inappropriate behavior.