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FDIC chair is grilled on Capitol Hill after report outlines agency's toxic workplace culture

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Federal Deposit Insurance Corp. Chairman Martin Gruenberg is sitting for a second day of grilling on Capitol Hill, this time at the Senate Banking Committee, after a damning report about the agency’s toxic workplace culture was released last week.

FILE - The Federal Deposit Insurance Corporation seal is shown outside its headquarters, March 14, 2023, in Washington. An independent review released Tuesday, May 7, 2024, of the Federal Deposit Insurance Corp. ‘s workplace culture describes an environment that fostered “hostile, abusive, unprofessional, or inappropriate conduct,” and questions whether the agency’s chairman is credible to lead the agency through a cultural transformation. WASHINGTON — Federal Deposit Insurance Corp.

On Thursday, Republican lawmakers roundly called on Gruenberg, who is a Democrat, to resign, after a similar grilling at the House Financial Services Committee on Wednesday. At the Thursday hearing, Sen. Tim Scott detailed several stories of female FDIC workers who outlined extreme harassment and stalking by their coworkers, complaints that were dismissed by supervisors, according to the report.

Democratic Senators did not call on the agency chairman to resign, but called on Gruenberg to change the agency.

Source: Financial Digest (financialdigest.net)

Government Regulations General News P Business United States Congress Politics Washington News John Kennedy F Tim Scott W Washington News

 

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