The White House Says FDIC Chairman To Step Down Following Report On Agency’s Toxic Workplace Culture

NEW YORK (AP) — The chairman of the Federal Deposit Insurance Corporation will step down from his post once a successor is appointed.

The White House said Monday that President Joe Biden will name a replacement for Martin Gruenberg “soon” and called for the Senate to quickly confirm the person’s nomination.

Gruenberg’s announced departure comes after a damning report about the agency’s toxic workplace culture was released earlier this month and political pressure from the top Democrat on the Senate Banking Committee, who called for his resignation earlier Monday.

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