FDIC Head ‘Personally Disturbed’ by Workplace Sexual Misconduct Allegations

Published on November 14, 2023

Martin Gruenberg, chairman of the Federal Deposit Insurance Corporation (FDIC), was “personally disturbed and deeply troubled” by allegations of sexual harassment and workplace misconduct. The Wall Street Journal published a report on Nov. 13 titled “Strip Clubs, Lewd Photos and a Boozy Hotel: The Toxic Atmosphere at Bank Regulator FDIC.” The article outlined claims by current and former employees that the federal banking regulator maintained a toxic work environment and misogynistic culture described as a “sexualized boys’ club environment.” “I am personally disturbed and deeply troubled by this report,” Mr. Gruenberg told lawmakers at a Senate Banking Committee hearing on Nov. 14. He confirmed that the agency has initiated “a comprehensive review” and engaged with an independent third-party entity “to ensure that we understand the nature of these issues and take all appropriate actions to address them.”...

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