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Calls for FDIC Chair Resignation Amid 200-Page Report on Toxic 'Boys Club' Culture

May 8, 2024, 03:25 AM

The Federal Deposit Insurance Corporation (FDIC) is under scrutiny following the release of a 200-page independent report by a law firm revealing a toxic workplace culture characterized by sexual misconduct, a misogynistic 'boys club' atmosphere, and retaliatory administrative practices. The report, which prompted bipartisan calls for FDIC Chair Martin Gruenberg's resignation, detailed instances of senior executives pursuing romantic relationships with staff and engaging in lewd behavior. Representative Bill Foster and several House Financial Services Committee Republicans, including HFSC Republicans, have urged Gruenberg to step down. In response to the findings, key regulators have been asked to publish an unredacted copy of the third-party review.