FDIC chair out after toxic work culture report

The report revealed a trend of sexual harassment and discrimination at the Federal Deposit Insurance Corporation

FDIC Chairman Martin Gruenberg testifies before Congress
FDIC Chair Martin Gruenberg will step down
(Image credit: Roberto Schmidt / AFP via Getty Images)

What happened

Federal Deposit Insurance Corporation Chair Martin Gruenberg will step down as soon as his successor is confirmed, Gruenberg and the White House said Monday. Senate Banking Committee Chair Sherrod Brown (D-Ohio) had called for new leadership at the FDIC hours earlier, saying he no longer believed Gruenberg could fix the bank regulator's toxic work culture, detailed in an independent review released May 7.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us
Peter Weber, The Week US

Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.