The probe didn’t find that Gruenberg himself had engaged in harassment or discrimination, but cited examples of the FDIC chief losing his temper with staff and questioned whether he was best person to drive change.
Martin Gruenberg will step down as head of the Federal Deposit Insurance Corp. after findings of a toxic work environment put the regulator at the center of a heated political fight and fueled calls for his removal.
Gruenberg, 71, has faced mounting pressure following a scathing report detailed allegations of harassment and discrimination at the bank regulator during his tenure. Those findings earlier this month by law firm Cleary Gottlieb Steen & Hamilton were based on accounts from more than 500 people and a months-long probe into a Wall Street Journal article about female bank examiners facing a “sexualized, boys’ club environment.”
“In light of recent events, I am prepared to step down from my responsibilities once a successor is confirmed,” Gruenberg said in a statement.
