Chairman Gruenberg testifies before Senate banking committee

FDIC Chairman Martin J. Gruenberg testified yesterday before the Senate Committee on Banking, Housing, and Urban Affairs. In his remarks, Gruenberg said his top priority is addressing workplace culture issues at the FDIC, and listed several actions that are being taken to address recommendations in a third-party review of the agency's culture, the results of which were released last week.

Those remarks were followed by discussions of the state of the banking industry, condition of the Deposit Insurance Fund, bank receiverships, resolutions under Title II of the Dodd-Frank Act, efforts to strengthen the regulation and supervision of banks, and other regulatory initiatives.