Federal Deposit Insurance Corp Chair Martin Gruenberg announced his resignation on Monday, finally succumbing to a months-long scandal over sexual harassment and other misconduct at the top bank regulator.
Federal Deposit Insurance Corp Chair Martin Gruenberg announced his resignation on Monday, finally succumbing to a months-long scandal over sexual harassment and other misconduct at the top bank regulator.
Gruenberg said he would step down from his responsibilities once a successor is confirmed.
Earlier in the day a top Democrat had called for the FDIC chair to be replaced after an external review found sweeping reports of employee mistreatment and sexual harassment.
There must be “fundamental changes” at the agency, Senate Banking Committee Chairman Sherrod Brown said in a statement, adding that he wanted President Joe Biden to immediately nominate a replacement, which the Senate should quickly advance.
