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.
Liverpool confirms Arne Slot as Jurgen Klopp's replacement
North Korea's Kim Jong Un turns 40 ... maybe
Australian town of Marble Bar clocks 26 consecutive days over 43 degrees Celsius
Number of reported scams drops, but 'underreporting is still happening'
Jimmy Lai provided HK$1.5 million loan to activists, court hears
Kevin Pillar gets 1,000th career hit in Angels' win at Texas
Grammys 2024: Photos from the 66th annual awards
Dali cargo ship is finally brought back to port
Live updates: Hurricanes v Chiefs, Super Rugby Pacific round 8