FDIC Chair Martin Gruenberg will resign following a scathing investigation that detailed a toxic workplace

Martin Gruenberg, head of the Federal Deposit Insurance Corporation (FDIC), has announced his intention to step down following an investigation into sexual harassment, discrimination, and bullying within the agency. Gruenberg stated he will remain in his role until a successor is confirmed. President Joe Biden is expected to nominate a new FDIC leader soon. The investigation confirmed the existence of a problematic culture within the agency, but did not solely blame Gruenberg. However, the report noted instances where Gruenberg’s behavior hindered trust and impeded cultural change. Some Democrats expressed outrage during recent hearings, but others viewed calls for resignation as politically motivated.