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.
Rays opening day starter Zach Eflin placed on 15
Winter Paralympic Torch Relay Held in Beijing's Olympic Forest Park
China to Boost Green Shift in Cities and Villages: Ministry
People Around China Celebrate Chinese Lunar New Year
Justin Timberlake set to bring his The Forget Tomorrow World Tour to Australia in 2025
Children View Lanterns at Lantern Making Center in Hebei
In Pics: Opening Ceremony of Beijing 2022 Olympic Winter Games
China's Ma Long, Wang Manyu through at WTT Champions
Trump film shocks Cannes as former US President is depicted 'raping' his then