▶ 0:22:23Chair Scott: We'll go ahead and get started and start with the ranking member's opening statement, giving us our opportunity to get our necessary votes here.
▶ 0:22:30Sen. Warren: Did you just --
▶ 0:22:32Chair Scott: I did.
▶ 0:22:34Sen. Warren: Thank you, Mr. chairman. The panel before us today if confirmed will run radical components of our housing, finance, and banking systems. I remain concerned with these nominees' willingness to follow the law and focus on the necessary work of combating rising costs for families and serve as a meaningful check on the president's reckless economic policies. I want to focus, though, on Mr.
▶ 0:23:02Sen. Warren: Hill, president trump's nominee to be president of the federal deposit insurance corporation. After reports of a long-standing toxic workplace culture at the fbi see came to light in 2023, Mr. hill, who was serving as vice chair of the fbi see, -- fbi fbdic, was eager to prioritize this issue. I was clear at the time that the fdic had a responsibility to fix this.
▶ 0:23:31Sen. Warren: But sadly once donald trump can president, Mr. hill became the acting chair and is interested in fixing these problems at the fdic seems to have faded. I have repeatedly requested copies of the monthly assessment conducted by the fdic's independent transformation monitor, a third party hard to progress on its cultural improvement efforts. Not only has Mr.
▶ 0:23:58Sen. Warren: Hill failed to provide these documents to congress, he has also explicitly blocked the independent monitor from sharing those reports with us. Our job is oversight. And regardless of party, a candidate who is openly refusing to share information on with members of the senate banking committee should not be confirmed.
▶ 0:24:28Sen. Warren: It turns out we were able to get a hold of some of these reports anyway. And it becomes clear why he wanted to hide them. The reports are abysmal. The independent monitor found that parts of fdic's action plan to resolve its cultural problems had been nullified by president trump's policies.
▶ 0:24:49Sen. Warren: It found that "the manner in which the fdic communicates progress to fdic staff causes confusions and is at times inaccurate." and two of the critical new offices that the fdic set up to address its toxic workplace, the office of professional conduct and the office of equal employment opportunity, offices that Mr.
▶ 0:25:12Sen. Warren: Hill himself counted in front of this very committee as critical to the fdic's cultural improvement efforts, are understaffed. We also have data that validates the independent monitors concern that these offices are understaffed. Mr. hill slashed the staffing levels of the office of professional conduct, which investigates and takes disciplinary action against harassment complaints, by 30%.
▶ 0:25:43Sen. Warren: He has also caught -- cut staffing levels of the office of equal employment opportunity, which investigates discrimination complaints. At the same time, Mr. hill obstructs progress on its workplace cultural issues, he is actively setting the stage for the net financial crisis, cutting bank examiners, tying their hands, and rolling back safeguards on megabanks. These actions put, taxpayers the financial system, and the whole economy at risk.
▶ 0:26:14Sen. Warren: I'll say again, we may not share the same views on what people should be doing, but at a minimum we ought to have access to the information and the reports that these agencies are generating. I feel very frustrated that we are talking about advancing a candidate who has refused for months now to give at least the ranking member of this committee access to those reports. Thank you, chairman.
▶ 0:26:39Chair Scott: Thank you. Good morning. I called the committee to order and move to executive session. Today the committee considers a slate of president trump's nominees whose leadership will be essential to maintaining the strength and stability of critical american institutions.
▶ 0:26:57Chair Scott: From housing finance to financial stability, these will directly affect the lives of families, small businesses, and communities across our nation, ensuring that experienced leaders fill these positions is not just a procedural step, is a matter of real consequence for the economy and communities across our country. Safe and affordable housing is foundational to the american dream. For families, it provides a path to wealth creation and a platform for upward mobility.
▶ 0:27:24Chair Scott: For communities, it anchors schools, businesses, and local economies. Mr. joseph gormley and Mr. frank cassidy, nominated to leader ginnie mae and the federal housing administration, will bring deep expertise to their respective agencies. Their leadership will ensure that housing finance remains accessible and sustainable and will expand opportunities for families who aspire to own their own home. At the fdic, Mr.
▶ 0:27:48Chair Scott: Kravis who will play an integral in preserving the safety and soundness of our banking system. Mr. hill's prior experience including at the fdic as well as the staff member on this cavity makes him more than qualified for this important role managing the fdif and eliminating the practice were -- toxic workplace culture that existed under the prior leadership was similarly
▶ 0:28:19Chair Scott: Competent strip all hollis is direct -- similarly, Mr. paul hollis at U.S. mint at an essential symbol of stability for americans and economic systems around the world. Together these nominees and body -- and body -- embodied the principle that public service should be about results, not politics, getting the government up and running after the democrats' shutdown, it is
▶ 0:28:51Chair Scott: Important that we get leaders in place. Families and communities rely on timely decisions by fha and fdic . Advancing the nominations will allow them to begin tangible benefits for homeownership and protecting financial stability. It is time the federal government returned to delivering results for the american people. I urge my colleagues to support moving these nominations to the full senate.
▶ 0:29:20Chair Scott: We will now contemplate these nominees. As we wait for one more vote to show up. [laughter] all rights. -- all right. We will quote on the nomination of Mr. joseph gormley to be president of the government national mortgage association.
▶ 0:29:51Chair Scott: The clerk will call the roll. >> the chairman?
▶ 0:29:58Chair Scott: Aye. >> Mr. crapo? >> hi. >> Mr. tillis? Mr. kennedy? Mr. hagerty? >> aye. >> Ms. lummis?
▶ 0:30:13Chair Scott: Aye by proxy. >> misses britt -- Mrs. britt? >> aye? >> Mr. banks? Mr. cramer? Mr. moren o? Mr. mccormick? Ms. warren?
▶ 0:30:35Sen. Warren: No. >> Mr. warner?
▶ 0:30:39Sen. Warren: No by proxy. >> Mr. van hollen?
▶ 0:30:42Sen. Warren: No by proxy. >> Ms. cortez masto?
▶ 0:30:46Sen. Warren: No by proxy for
▶ 0:30:49Sen. Warren: No by proxy f. >> Ms. smith?
▶ 0:30:51Sen. Warren: No by proxy. >> Mr. gallego?
▶ 0:30:55Sen. Warren: No by proxy. >> Ms. blunt rochester?
▶ 0:30:58Sen. Warren: No by proxy. >> Ms. alsobrooks?
▶ 0:31:02Sen. Warren: No by proxy for
▶ 0:31:05Sen. Warren: No by proxy f. >> the boat is 13 in favor, 11 opposed.
▶ 0:31:10Chair Scott: Clarification, 13 in favor with one aye by proxy we are good to go, anyway. The nomination is reported favorably to the full senate. We will vote on the nomination of Mr. francis cassidy to be the assistant secretary of housing and the fha commissioner. The clerk will call the will. >> the chairman?
▶ 0:31:32Chair Scott: Ayes
▶ 0:31:36Chair Scott: Aye. >> Mr. crapo. >> aye. >> Mr. rounds. >> aye. >> Mr. tillis. Mr. haggerty. Ms. lummis? >> aye. >> mrs britt.? >> aye. >> Mr. ricketts? >> aye. >> Mr. banks? >> aye. >> Mr. cramer? >> aye.
▶ 0:32:06Chair Scott: >> Mr. marino? Mr. mccormick? Ms. warren?
▶ 0:32:11Sen. Warren: No. >> Mr. reed? Mr. warner?
▶ 0:32:17Sen. Warren: Yes by proxy. >> Mr. van hollen?
▶ 0:32:21Sen. Warren: No by proxy. >> Ms. cortez masto?
▶ 0:32:24Sen. Warren: No by proxy. >> Ms. smith?
▶ 0:32:27Sen. Warren: No by proxy. >> Mr. warnock?
▶ 0:32:31Sen. Warren: No by proxy. >> Mr. kim?
▶ 0:32:34Sen. Warren: By proxy. >> Ms. blunt rochester?
▶ 0:32:38Sen. Warren: By proxy. >> Ms. alsobrooks?
▶ 0:32:42Sen. Warren: No by proxy. >> 14 in favor, can oppose.
▶ 0:32:45Chair Scott: Thank you. The ayes have it and the nominations reported favorably to the full senate. I ask for unanimous consent to allow cynthia lummis to be yes and present but not by proxy on the first vote. Without objection, so ordered. We will now vote on the nomination of Mr.
▶ 0:33:15Chair Scott: Paul hollis to be the director of the mint. The clerk will call the roll. >> the chairman?
▶ 0:33:21Chair Scott: Aye. >> Mr. crapo? >> aye. >> Mr. rounds? >> aye. >> Mr. tillis? Mr. kennedy? >> kennedy voted aye. >> Mr. hagerty? Ms. lummis? >> aye. >> Mrs. britt? >> aye. >> Mr. ricketts?
▶ 0:33:51Chair Scott: Mr. banks? Mr. cramer? Mr. moreno? Mr. mccormick? Ms. warren?
▶ 0:34:00Sen. Warren: No. >> Mr. reed? >> no. >> Mr. warner?
▶ 0:34:09Sen. Warren: No by proxy. >> Mr. van hollen?
▶ 0:34:12Sen. Warren: No by proxy. >> Ms. cortez masto?
▶ 0:34:15Sen. Warren: No by proxy. >> Mr. kim?
▶ 0:34:18Sen. Warren: No by proxy. >> Mr. gallego?
▶ 0:34:22Sen. Warren: No by proxy. >> Ms. blunt rochester?
▶ 0:34:27Sen. Warren: No by proxy. >> 13 in favor, 11 opposed.
▶ 0:34:31Chair Scott: The ayes have it and the nomination will be reported favorably to the full senate. We now vote on travis hill to be chairperson of the board of directors of the fdic. >> Mr. tillis? Mr. kennedy? Mr. hagerty? >> aye. >> Ms. lummis? >> aye. >> Mrs. britt?
▶ 0:35:01Chair Scott: >> aye. >> Mr. banks? >> aye. >> Mr. moreno? >> aye. >> Mr. mccormick? >> aye. >> Ms. warren? No. >> Mr. van hollen?
▶ 0:35:22Sen. Warren: No by proxy. >> Ms. cortez masto?
▶ 0:35:25Sen. Warren: No by proxy. >> Mr. warnock?
▶ 0:35:28Sen. Warren: No by proxy. >> Mr. gallego?
▶ 0:35:32Sen. Warren: No by proxy. >> Ms. blunt rochester?
▶ 0:35:36Sen. Warren: By proxy for the >> Ms. alsobrooks?
▶ 0:35:38Sen. Warren: No by proxy. >> 13 in favor, 11 opposed.
▶ 0:35:43Chair Scott: Ayes have it, the nomination is reported favorably to the full senate. Would any member's like to make payments? Seeing on, the exec -- seeing none, the executive session is now adjourn. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. Visit ncicap.org]