FDIC Chair Appears Before House Committee

He accepted responsibility for the agency’s culture, which was revealed in a report.

Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg testified before the House Financial Services Committee on Wednesday. Chair Gruenberg, who has led the FDIC for the past ten years, answered questions about a report that revealed sexual misconduct in his agency.

The report outlined Chair Gruenberg’s “reputation for bullying and for having an explosive temper” that left staff feeling “disrespected, disparaged, and treated unfairly.”

The report stated, “While not the root cause of the sexual harassment, discrimination, or other workplace misconduct impacting the agency as a whole, a number of people noted that tone and culture flows from the top down, and having a leader with a reputation of this type does create certain challenges in leading a cultural transformation that prioritizes a more positive workplace culture.”

“I accept the findings of the report and as chairman, I take full responsibility,” Chair Gruenberg stated before the committee. “To anyone who has experienced sexual harassment, discrimination, or other misconduct at FDIC, I again personally want to apologize and express how deeply sorry I am. I also acknowledge my own failures as chairman both in failing [to appreciate] how my temperament in meetings impacted others and for not having identified the deeper cultural issues.”

Some members of Congress have called for the chief banking regulator’s resignation.

As the Lord Leads, Pray with Us…

  • For Chair Gruenberg to be discerning as he assesses the workplace environment under his management.
  • For wisdom for members of Congress as they seek to hold officials in the Executive Branch accountable

Sources: Washington Examiner, Daily Signal


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