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Republicans Call on FDIC Chairman to Resign in Wake of ‘Abusive’ Conduct at Agency

Republicans on Tuesday known as on FDIC Chairman Martin Gruenberg to resign due to a report that detailed the “hostile, abusive, and unprofessional, or inappropriate conduct” at the company underneath his watch.

An unbiased evaluate of the Federal Deposit Insurance Corp. (FDIC) was described by an unbiased evaluate performed by Cleary Gottlieb Steen & Hamilton as “hostile, abusive, unprofessional.” The report outlined many incidents of stalking, harassment, homophobia, and different violations of worker rules.

The Associated Press (AP) defined:

The incidents span from discipline places of work to headquarters in Washington, and “arose within a workplace culture that is ‘misogynistic,’ ‘patriarchal,’ ‘insular,’ and ‘outdated’ — a ‘good ol’ boys’ club where favoritism is common, wagons are circled around managers, and senior executives with well-known reputations for pursuing romantic relations with subordinates enjoy long careers without any apparent consequence,” the report states.

More than 500 employees reported incidents of harassment, discrimination and different points

The report additionally named Gruenberg for having “deeply unsettling exchanges” between the chair and his subordinates.

The report acknowledged that Gruenberg’s “reputation raises questions about the credibility of the leadership’s response to the crisis and the ‘moral authority’ to lead a cultural transformation.”

Republicans have known as Gruenberg to resign due to the scandal underneath his watch.

House Majority Whip Tom Emmer (R-MN) stated, “The FDIC is in disarray under Marty Gruenberg’s failed leadership. He must resign.”

The FDIC is in disarray underneath Marty Gruenberg’s failed management.

He should resign.https://t.co/x9hJOmpI8p

— Tom Emmer (@GOPMajorityWhip) May 7, 2024

Rep. French Hill (R-AR), the vice chairman of the House Financial Services Committee, wrote, “I recently met with Chairman Gruenberg over the allegations connected with his management of the FDIC. I was very disappointed in his response to my questions and upon reading the independent report released today, I believe it’s in the best interest of the FDIC, its employees, and the industry for him to resign.”

Rep. Patrick McHenry (R-NC), the chairman of the House Financial Services Committee, said the report “makes clear new leadership is needed at the FDIC.” Sen. Tim Scott (R-SC), rating member of the Senate Banking Committee, stated “it’s time for Chairman Gruenberg to resign so the FDIC can move forward with the leadership it deserves and desperately needs.”

Sean Moran is a coverage reporter for Breitbart News. Follow him on Twitter @SeanMoran3.

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