Senate Banking Committee Chair calls for ‘new leadership’ at the FDIC following scathing report

Sen. Sherrod Brown, a Democrat who heads the Senate Banking Committee, is calling for a leadership overhaul at the Federal Deposit Insurance Corporation following a scathing 234-page report released last week that detailed pervasive sexual harassment, discrimination and bullying at the agency.

Sen. Sherrod Brown, a Democrat who heads the Senate Banking Committee, is calling for a leadership overhaul at the Federal Deposit Insurance Corporation following a scathing 234-page report released earlier this month that detailed pervasive sexual harassment, discrimination and bullying at the agency. Brown stopped short of explicitly calling for FDIC Chair Martin Gruenberg, who was appointed by President Joe Biden, to resign. Rather he said in a statement Monday morning “there must be fundamental changes at the FDIC.” “Those changes begin with new leadership, who must fix the agency’s toxic culture and put the women and men who work there – and their mission – first,” Brown said. “That’s why I’m calling on the President to immediately nominate a new Chair who can lead the FDIC at this challenging time and for the Senate to act on that nomination without delay.” This is a developing story and will be updated.