Hagerty Seeks Commitment from FDIC to Remain Free of Politically-Motivated Decisions

Congratulates Tennessean nominee Jonathan McKernan

WASHINGTON—United States Senator Bill Hagerty (R-TN), a member of the Senate Banking Committee, today in a hearing extracted a commitment from Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg not to weaponize the FDIC to target industries to which the Biden Administration may be ideologically opposed, such as the oil-and-gas and firearms industries. 

“Whether it’s Operation Choke Point, whether it’s the creation of new merchant category codes for firearm and ammunition purchases, whether it’s the de-banking of the oil-and-gas industry, our financial system is increasingly becoming politicized. It’s becoming weaponized to achieve partisan aims that certainly wouldn’t survive a vote here in the Senate. I’m concerned that this letter that you put forward may certainly be the FDIC simply testing the waters to see how other industries like this might be affected… that the Administration may be ideologically opposed to. […] I’d like to know if you can commit to me here today that the FDIC will not institute similar practices for the oil-and-gas industry, for example, or the firearms and ammunition industry, or any other politically-sensitive industry that might become a target of this Administration,” Hagerty asked.

Chair Gruenberg affirmed his commitment to Hagerty.

Hagerty also congratulated Tennessean Jonathan McKernan, nominee to be a Member of the Board of Directors of the FDIC. “I wanted to start by recognizing one of the nominees here today, Jonathan McKernan, a fellow Tennessean, someone who has wonderful credentials, both in the practice of private law and working in the public sector. Mr. McKernan, I’m delighted to see you here representing Tennessee so well. Congratulations on your nomination to this important position,” Hagerty said.

About Brad Jones

Brad is the Owner/Operator of BBB TV 12, and has been with the company since August of 1996. Brad is a 1987 graduate of Coalfield High School and a 1995 graduate of the University of Tennessee College of Communications. He won the 1995 broadcast production student of the year award. Brad worked at Shop at Home, Inc. a home shopping network that was located in Knoxville, TN from 1993 - 1995 and then at Via TV (RSTV, Inc.) from 1995 - 1996. After some freelance work in Nashville, Brad joined the BBB Communications staff in August of 1996. A short stint at WVLT TV as a news photographer was in 2001, but he continued to work at BBB TV as well. Brad is married to Nicole Jenkins Jones, a 1990 graduate of Oak Ridge High School, who works at Oak Ridge Gastroenterology and Associates in Oak Ridge. They have 3 kids, Trevor Bogard, 27, Chandler 22, and Naomi 13. On December 12, 2013 they welcomed their first grandchild, Carter Ryan Bogard. Brad is also the assistant boys basketball coach at Coalfield High School for the past 11 years. In 2013-14 the Yellow Jackets won their first district title since 1991 and just the 4th in school history.

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