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.
'Real life' Martha from Baby Reindeer's million
The Biden administration is planning more changes to quicken asylum processing for new migrants
Mbappé farewells the French league when PSG visits Metz in final round
REVEALED: Details of bitter feud between Maine $1.3B lottery winner and his warring family
Tamara Ecclestone is criticised as her daughter Fifi, 10, heads out wearing heavy make
JFK airport project misrepresented as not allowing bids from white, male
Suspended Argonauts QB Chad Kelly withdraws from camp, citing desire to minimize distractions
Shaquille O'Neal, 7ft1in, towers over Sarah Jessica Parker, 5ft3in, as the pair pose up at the star
'The Apprentice,' about a young Donald Trump, premieres in Cannes
California college professor to stand trial in death of pro
Four people killed in a house explosion in southwestern Missouri
Nashville SC fires coach Gary Smith after 3