WASHINGTON – With reports of its “toxic culture” still very much in the news, the Special Committee established by the FDIC to oversee an independent third-party review of the agency’s workplace culture has provided an update.
The update comes in the wake of reports the FDIC has for decades tolerated a “sexualized boys club” environment, with allegations workers have acted abusively against women, including supervisors inviting female employees to strip clubs, another supervisor requesting sex with an employee, and employees being urged to drink whiskey while working. Dozens of women have reportedly quit the agency as a result.
All of it led one senator to ask during a hearing, “What the hell is going on at the FDIC?”
“As announced previously, the FDIC board of directors established a Special Committee to provide direction to and oversee an independent third-party review of allegations of sexual harassment and interpersonal misconduct at the FDIC and management’s response to that harassment and misconduct,” the FDIC said. “The independent review will also assess the FDIC’s workplace culture, including any practices that might discourage or deter the reporting of or responding to sexual harassment and interpersonal misconduct.
“Immediately following its establishment, under the authorities granted by the board of directors, the Special Committee began an expedited solicitation of law firms to engage one or more to conduct the independent review,” the statement continued. “The Special Committee is committed to finalizing the selection of the third-party reviewer as soon as practicable and completing the onboarding process soon thereafter.”