NEW YORK (AP) — The White House said Monday that the chairman of the Federal Deposit Insurance Corporation will step down, a departure that follows the release earlier this month of a damning report about the agency’s toxic workplace culture.
The White House said Martin Gruenberg will step down once a successor is appointed and that President Joe Biden will name a replacement “soon.” The announcement came after the top Democrat on the Senate Banking Committee earlier Monday called for Gruenberg’s removal.
Biden expects the FDIC “to reflect the values of decency and integrity and to protect the rights and dignity of all employees,” Deputy Press Secretary Sam Michel said in a statement.
The FDIC is one of several U.S. banking system regulators. The Great Depression-era agency is best known for running the nation’s deposit insurance program, which insures Americans’ deposits up to $250,000 in case their bank fails.
Germany's foreign minister visits Kyiv as Ukraine battles to hold off a Russian offensive
Oregon State and Washington State face player exodus amid realignment
Everybody may love Raymond, but Ray Romano loves Peter Boyle
Man killed while fleeing Indiana police had previously resisted law enforcement
‘The Blue Angels,’ filmed for IMAX, puts viewers in the ‘box’ with the elite flying squad
Former Virginia hospital medical director acquitted of sexually abusing ex