Discrimination resignation from FDIC Chairman Gruenberg
US Federal Deposit Insurance Corporation (FDIC) Chairman Martin Gruenberg announced that he will resign after problems with discrimination and harassment emerged in the institution and calls for resignation intensified.
Martin Gruenberg, President of the US Federal Deposit Insurance Corporation (FDIC), reminded in his written statement that he has served as President, Vice President and Director of the FDIC since August 2005.
Gruenberg stated that throughout this period, the FDIC faithfully fulfilled its critically important mission to maintain public confidence and stability in the banking system.
“In light of recent events, I am prepared to step down once my successor has been identified. Until then, I will continue to fulfill my responsibilities as Chairman of the FDIC, including transforming the FDIC’s workplace culture.”
A report by law firm Cleary Gottlieb at the beginning of the month revealed significant problems with sexual harassment, racial discrimination and bullying at the FDIC.
“Senior officials turned a blind eye”
The report revealed a “toxic” work environment in the organization where abuses were not only widespread at all levels but were also condoned by senior officials over a long period of time.
Gruenberg had faced increasing pressure to resign following the report detailing allegations of harassment and discrimination at FIDC.
Senator Sherrod Brown, Chairman of the US Senate Banking, Housing and Urban Affairs Committee, stated that there should be fundamental changes in the FDIC and called on US President Joe Biden to appoint a new chairman.