News: The Democratic leadership of the House Financial Services Committee is pitching its rank-and-file members on a defense of Federal Deposit Insurance Corp. Chair Martin Gruenberg.
We obtained a committee memo sent by Democratic staff that lays out the playbook for how some members, led by Rep. Maxine Waters (D-Calif.), will attempt to defend Gruenberg, who will testify in the House tomorrow. He’s expected to receive an all-time grilling from Republicans and even some Democrats.
More news: Senate Banking Committee Ranking Member Tim Scott (R-S.C.) told Gruenberg he should resign during a phone call with the chair this morning.
