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The Latest Breaking News from FDIC

FDIC Chairman To Step Down Amid Workplace Culture Concerns

FDIC Chairman Martin Gruenberg to step down amid workplace culture concerns. White House seeks successor to address agency's challenges.

Top News

Prominent leader of financial services watchdog resigns after report found it was riddled with a 'misogynistic’ and ‘good ole boys club’ culture

New leadership is needed to fix the “toxic culture” at the FDIC, said Sen. Sherrod Brown on Monday.

Fortune

Top US Banking Regulator Offers Resignation After Toxic Workplace Report

A top US banking regulator offered his resignation Monday after an independent report found evidence of widespread sexual misconduct and a "patriarchal" culture at the agency he leads.

International Business Times

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Top Democrat calls for Biden to replace FDIC chairman to fix agency's 'toxic culture'

The most powerful Democrat in Congress on banking and financial issues called for President Joe Biden to replace the chairman of the Federal Deposit Insurance Corp_ on Monday, saying the agency is broken and there must be “fundamental changes at the FDIC.”

The Independent UK

Earn interest and get cash back with Evergreen Bank

Evergreen Bank: Ideal for customers looking for good APY and reimbursed ATM fees

Fortune

FDIC Chairman Faces Criticism Over Toxic Workplace Culture

FDIC Chairman faces calls for resignation over workplace culture issues. Urgent need for reform and trust rebuilding.

Top News

US Bank Regulator Grilled Over 'Toxic Culture' At Agency

US lawmakers attacked the head of a top financial regulator for a second consecutive day on Thursday over his agency's failure to deal with workplace misconduct, including discrimination and sexual harassment.

International Business Times

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FDIC chair is grilled on Capitol Hill after report outlines agency's toxic workplace culture

Federal Deposit Insurance Corp. Chairman Martin Gruenberg is sitting for a second day of grilling on Capitol Hill, this time at the Senate Banking Committee, after a damning report about the agency’s toxic workplace culture was released last week

The Independent UK

FDIC Chair Faces Tough Questions On Capitol Hill

Lawmakers investigate allegations of sexual harassment, discrimination, and bullying at the FDIC, raising concerns about the agency's work environment.

Top News

House Republicans demand FDIC chairman resign after toxic workplace report

"Mr. Gruenberg, you have become the Michael Cohen and Harvey Weinstein of the FDIC. You need to go."

Axios

FDIC Report Reveals Unacceptable Abuses, Yellen Condemns

Treasury Secretary Janet Yellen condemns sexual misconduct at FDIC, calls for accountability and prevention measures in response to report findings.

Top News

Democrat Supports FDIC Chief Amid Harassment Scandal

Prominent Democrat supports FDIC chief amidst harassment scandal, calling for fair investigation.

Top News

FDIC Staff Considering Exits Due To Leadership Distrust

Growing distrust in FDIC leadership raises concerns about agency's effectiveness and staff retention.

Top News

FDIC Chair Faces Calls To Resign Amid Workplace Controversy

FDIC chair Martin Gruenberg faces scrutiny over workplace issues. Potential resignation could impact banking sector.

Top News

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WEKU

Toxic culture is the norm at the FDIC, outside review cites 500 employee complaints

A law firm investigation of the FDIC documents a toxic workplace culture where hundreds of employees complained of sexual harassment, discrimination and other misconduct.

Top News

First US Bank Failure Of 2024: Republic First Bank

FDIC closes Republic First Bank in Philadelphia, Fulton Bank to assume deposits and assets. Regional banks facing challenges.

Top News

US Regulator Halts Asset Manager Stake Scrutiny In Banks

FDIC delays examination of asset manager stakes in banks to evaluate impact on banking sector stability and competition.

Fortune

How to Choose the Best 10-Year CD Rate for You

A 10-year CD is a long-term commitment, but locking in a high APY can lead to a big payoff. Here are the top rates this month.

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Fortune

Get a [dynamic]NewtekBank-Savings-APY[/dynamic]% APY with a Newtek Bank savings account

Newtek Bank N.A. boasts a high-yield savings APY and multiple CDs to boost your savings.

Top News

NCUA Insurance: Protecting Your Credit Union Deposits

Learn how NCUA insurance protects credit union deposits up to 0,000 per member, per ownership category, similar to FDIC insurance for banks.

Kiplinger

Should You Invest in CDs? What to Consider

Before putting your money in a certificate of deposit (CD), you should know why banks issue them, how they are used and how they are priced.

International Business Times

FDIC Blasts SEC's Controversial SAB 121 Bulletin Targeting Crypto Custodians

The FDIC's vice chair had very sharp words for a staff accounting bulletin of the SEC that has raised concerns about the bulletin's implications on custodial service providers.

Kiplinger

How SIPC Works and What Investors Should Know About It

The Securities Investor Protection Corp. will help get your cash and securities back if your broker-dealer fails. Here's a look at how SIPC works.

StockNews.com

3 B-Rated Foreign Bank Stocks to Consider

The U.S. banking sector continues to face challenges, including rising deposit costs in a high-rate environment, credit rating downgrades, and risk of defaults in commercial real estate (CRE) lending. Hence, it could be wise to look beyond borders and add quality foreign bank stocks Banco Macro (BMA), Banco Santander (SAN),…

StockNews.com

Buy or Sell These 3 Bank Stocks?

Prolonged exposure to high-interest rates, risk of defaults on commercial real estate loans, elevated deposit costs, diminished credit demand, and stringent lending standards are expected to pile more pressure on U.S. banks. Considering these factors, should investors consider investing in foreign bank stocks Banco Santander (SAN), Akbank (AKBTY), and First…

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