The White House announced on Monday that the chairman of the Federal Deposit Insurance Corporation (FDIC) will be stepping down following the release of a critical report on the agency's toxic workplace culture. The departure of Martin Gruenberg will occur once a successor is appointed, with President Joe Biden expected to name a replacement soon.
The decision to seek a new FDIC leader came after the top Democrat on the Senate Banking Committee called for Gruenberg's removal, citing concerns about the agency's leadership and workplace environment.
