Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, issued a statement on the recent announcement that the Federal Deposit Insurance Corporation (FDIC) will offer voluntary retirement to 20 percent of its workforce and close or consolidate offices in Boston, California, Florida, Kentucky, Ohio, Oklahoma, and Tennessee:

“I am deeply concerned by the FDIC’s decision to massively downsize its experienced workforce and close or consolidate offices in Los Angeles and across the nation. The FDIC should be working to ensure stability in the financial system, not to destabilize the livelihoods of its employees. Additionally, at a time when this nation and the economy is faced with the growing threat of the coronavirus disease 2019 (COVID-19), the agency should be embracing the expertise of senior employees who have worked through a global financial crisis, instead of pushing them out the door. I will be closely scrutinizing the FDIC’s actions and I call on Chairman McWilliams to be transparent with Congress and the public so that all employees are provided with the support they need and the agency is appropriately staffed.”

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