FDIC chair Gruenberg steps down after harassment review

Hundreds of reports of inappropriate behaviour at FDIC have come to light

Martin Gruenberg

Martin Gruenberg, chair of the US Federal Deposit Insurance Corporation, is stepping down after a review found the regulator had failed to deal with widespread cases of misconduct, including complaints against the chair himself.

“In light of recent events, I am prepared to step down from my responsibilities once a successor is confirmed,” Gruenberg said on May 20. Until then he said he will continue to lead efforts to improve the FDIC’s workplace culture.

The law firm Cleary Gottlieb released a

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