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Financial regulators testify before Senate as FDIC chair under scrutiny: Watch live

by The Hill Staff 05/16/24 09:31 AM CDT

FILE - The Federal Deposit Insurance Corporation (FDIC) seal is shown outside its headquarters, March 14, 2023, in Washington. On Monday, May 1, the FDIC recommended that the U.S. rethink its decades-old policy of insuring up to $250,000 in bank deposits and replace it with an overhaul that would allow regulators to cover higher amounts on a “targeted” basis. (AP Photo/Manuel Balce Ceneta, File)

Top banking regulators are slated to testify Thursday before the Senate Banking committee.

Thursdays panel includes Federal Deposit Insurance Corporation’s (FDIC) Chair Martin Gruenberg, Federal Reserve Vice Chair Michael Barr and acting Comptroller of the Currency Michael Hsu.

The hearing comes as Gruenberg is facing pressure to resign after a scathing report about the FDIC’s work culture confirmed long-standing findings of sexual harassment plaguing the agency.

Top Republicans on congressional financial committees and at least one Democratic lawmaker have issued calls for his resignation following an investigation by law firm Cleary Gottlieb Steen & Hamilton.

The hearing is scheduled to begin at 10 a.m. EDT.

Watch the live video above.