FDIC Chair Martin Gruenberg says he will resign after hostile workplace claims

Martin Gruenberg, chair of the Federal Deposit Insurance Corp., announced Monday that he would resign once President Biden appoints and the Senate confirms a successor to lead the banking regulator, after a searing report said Gruenberg led a hostile workplace at the agency.

An independent investigation led by an outside law firm found rampant instances of abusive workplace conduct at the FDIC, including sexual harassment, stalking and inappropriate supervisor-subordinate relationships, and it cast doubt on Gruenberg’s ability to continue to lead the agency.