Toomey Statement on Chopra’s Illegitimate FDIC Coup
“The administration should disavow this odious destruction of political norms”
Washington,
D.C. – U.S. Senate Banking Committee Ranking Member Pat
Toomey (R-Pa.) issued the following statement regarding Consumer Financial
Protection Bureau (CFPB) Director Rohit Chopra’s and Federal Deposit Insurance
Corporation (FDIC) Board Member Martin Gruenberg’s unlawful
attempt to circumvent FDIC Chairman Jelena McWilliams.
“This
failed, publicity-seeking attempted coup is exactly the kind of lawless
overreach that Senate Republicans warned about with Rohit Chopra. His reckless
behavior today undermines the independence and integrity of the FDIC. It
represents a radical politicization of a long-respected financial regulator.
There’s no legitimacy to this supposed ‘vote’ or Mr. Chopra’s tweet.
“That
Marty Gruenberg would participate in this farce is disappointing but not
surprising given his blemished record of implementing illegal Operation Choke
Point and his mismanagement of the FDIC during his chairmanship.
“In
its history, the bipartisan FDIC board has generally worked in cooperative
fashion no matter which party controlled the White House. This unprecedented,
illegitimate attempt to depose a bona fide and Senate-confirmed chairman would
severely weaken the ability of independent regulators to operate free from
political interference.
“The
administration should disavow this odious destruction of democratic norms.”
###
Next Article Previous Article
