US FDIC's Gruenberg to create office to address workplace conduct issues

📆 5/14/2024 7:29 PM
📰 Reuters

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The head of the Federal Deposit Insurance Corporation plans to tell Congress he will establish a new, independent office devoted to professional conduct after an external review found comprehensive mistreatment of employees at the U.S. bank regulator under his watch.

Federal Deposit Insurance Corporation Chairman Martin Gruenberg testifies at a House Financial Services Committee hearing on the response to the recent bank failures of Silicon Valley Bank and Signature Bank, on Capitol Hill in Washington, U.S., March 29, 2023. REUTERS/Kevin Lamarque/ File PhotoWASHINGTON, May 14 -

Hundreds of agency employees in recent months contacted an outside investigative team to report instances of sexual assault, harassment, racial discrimination and whistleblower retaliation in the wake of a November Wall Street Journal expose, according toGruenberg's ouster would hamstring much of President Joe Biden's financial regulatory agenda in an election year, and thus far key Democrats on Capitol Hill have refrained from calling for Gruenberg to step aside.

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