FDIC Chairman Martin Gruenberg to Resign Amid Sexual Harassment and Toxic Workplace Scandal

May 20, 2024, 09:23 PM

Martin Gruenberg, Chairman of the Federal Deposit Insurance Corporation (FDIC), has announced his resignation following an independent investigation that uncovered widespread sexual harassment, bullying, and a toxic culture within the agency. The investigation has led to calls for new leadership, with Senate Banking Committee Chairman Sherrod Brown urging President Joe Biden to nominate a new chair immediately. Gruenberg stated that he would step down once a successor is confirmed. The White House has indicated that President Biden will soon put forward a nominee for the position. This development comes amid a heated political environment and significant scrutiny over the FDIC's workplace culture.