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.
The FDIC is a 'boys club' where some senior execs pursued romantic relationships with their staff, says new report https://t.co/cmsFg5uGu7
JPMorgan is limiting dealings with Simon Sadler’s Segantii, the Asian hedge fund giant charged with insider trading by authorities in Hong Kong, sources say https://t.co/y2Pyg8LDYE
An independent law firm’s review of the Federal Deposit Insurance Corporation has only deepened my concerns about the agency’s culture and leadership. 🧵 (1/6)
HFSC Republicans called on Gruenberg to resign this afternoon, just hours after the release of an independent report into the agency’s workplace culture. https://t.co/pNTRhoOkGa
Rep. Bill Foster became the first House Democrat to call on FDIC Chair Martin Gruenberg to resign after a law firm’s investigation confirmed a report of rampant sexual misconduct, lewd behavior and retaliatory administrative practices. https://t.co/QxfWStlZvp
Probe finds misogynistic ‘boys club’ culture at US bank regulator https://t.co/9cCP45LunA via @ft
I had assumed the FDIC chief would have an opportunity at next week's oversight hearings to demonstrate he can tackle the recommendations in today's independent review. But lawmakers of both parties are calling for his resignation. https://t.co/jOrdeLOQyd
200-page report offers "sobering look" inside toxic workplace at the government agency that regulates bankers, sources say. https://t.co/91X9RWQKK7
FDIC chief faces GOP calls to resign over report on workplace harassment https://t.co/NgtFbjIKOt
Across the financial world, allegations against Segantii are raising questions about how the firm operates, how banks and clients might react and how far a probe might reach https://t.co/rNXeV2d5PB via @markets
Huizenga urged key regulators to commit to publishing a third-party review of the FDIC's workplace culture. He also asked the regulators to produce “an unredacted copy of the report” once the agencies release something publicly. https://t.co/gnlSFQ4nEo