NEW YORK (AP) — The White House said Monday that the chairman of the Federal Deposit Insurance Corporation will step down, a departure that follows the release earlier this month of a damning report about the agency’s toxic workplace culture.
The White House said Martin Gruenberg will step down once a successor is appointed and that President Joe Biden will name a replacement “soon.” The announcement came after the top Democrat on the Senate Banking Committee earlier Monday called for Gruenberg’s removal.
Biden expects the FDIC “to reflect the values of decency and integrity and to protect the rights and dignity of all employees,” Deputy Press Secretary Sam Michel said in a statement.
The FDIC is one of several U.S. banking system regulators. The Great Depression-era agency is best known for running the nation’s deposit insurance program, which insures Americans’ deposits up to $250,000 in case their bank fails.
Family discover hidden camera disguised as a rock pointed at their home in California
Strong rebound to British economy ends 'technical recession'
Trump hush money trial: Michael Cohen awaits turn after graphic Stormy Daniels account
What's next for Iran after death of its president in crash?
Australian judge extends ban on X sharing video of Sydney bishop's stabbing
Officer fatally shoots armed suspect in domestic disturbance that injured man, police say
British Gas boss says smart meters could be forced into every home to help meet net zero targets
Iran helicopter crash that killed President Raisi could reverberate across the Middle East
Sweetgreen, Natera rise; Collegium Pharmaceutical, Akamai fall, 5/10/2024
Supreme Court declines to hear challenge to Maryland ban on rifles known as assault weapons
Japan defense chief urges higher security after drone video of warship posted on China social media