Federal Deposit Insurance Corporation Chairman Martin Gruenberg announced Monday that he will resign, after a recent probe found a widespread culture of sexual harassment and discrimination at the independent agency. “In light of recent events, I am prepared to step down from my responsibilities once a successor is confirmed,” Gruenberg said in a statement.
Law firm Cleary Gottlieb in April released a scathing report detailing an alleged culture of “sexual harassment, discrimination, and other interpersonal misconduct” at the FDIC. The 174-page report, which drew from accounts of more than 500 people, also included, in part, allegations of Gruenberg’s short temper, accusing him of engaging in bullying and verbal abuse. Employees described the chairman as “aggressive” and “harsh,” according to the report.
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