FDIC Chairman Martin Gruenberg to Resign Amid Sexual Harassment Probe, Sherrod Brown Calls for New Leadership

May 20, 2024, 08:59 PM

Senate Banking Committee Chairman Sherrod Brown has called on President Joe Biden to nominate new leadership for the Federal Deposit Insurance Corporation (FDIC) following a damning report detailing a toxic workplace culture, including widespread sexual harassment and bullying. Current FDIC Chairman Martin Gruenberg has announced his intention to resign once a successor is confirmed. This move comes after significant pressure from both political figures and an independent investigation that highlighted serious misconduct within the agency. Brown emphasized the need for immediate action to restore confidence and stability in the FDIC. The sexual harassment probe was a significant factor in the call for new leadership.