FDIC chairman faces House committee over sexual misconduct report

FDIC chairman faces House committee over sexual misconduct report


Federal Deposit Insurance Corporation Chairman Martin Gruenberg will be testifying before the House Financial Services Committee on Wednesday regarding a report that revealed the agency is rampant with sexual misconduct

The 234-page report was conducted by Cleary Gottlieb Steen & Hamilton at the request of a special committee formed by the FDIC last year. Investigators talked to 500 out of 6,000 FDIC employees who shared their experiences of sexual harassment and recounted their fears of retaliation from their superiors. Accusations of sexual misconduct include supervisors sending employees their nude photos and taking them to brothels during business trips. 

FDIC Board of Directors Chairman Martin Gruenberg testifies during the House Committee on Financial Services hearing on oversight of prudential regulators, Wednesday, Nov. 15, 2023, on Capitol Hill

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