WASHINGTON–In the wake of reports alleging a long-time “sexualized boys club” at the federal bank regulator, the FDIC’s Office of Inspector General (OIG) said it will conduct a "special inquiry" into how the bank regulator's leadership has handled complaints about sexual harassment and other allegedly inappropriate conduct.
The FDIC’s OIG further stated a "new evaluation project" will also review reform efforts by the FDIC since a 2020 investigation found its handling of sexual harassment complaints was deficient, Caitlin Savino, spokesperson for the FDIC Office of Inspector General in a statement.
Reuters reported earlier that FDIC officials had said the agency had satisfied recommendations from that investigation.
According to the OIG, the newest investigation will focus on FDIC leadership, which adds to turmoil surrounding Chair Martin Gruenberg, who this month faced calls for his resignation from Republican lawmakers following a Wall Street Journal report, as CUToday.info reported here. Gruenberg has been in leadership at the FDIC for nearly 20 years, serving prior terms as chair and vice chair.
‘Toxic Culture’
Those reports alleged a toxic culture of misogyny and discrimination among the agency's male-dominated staff in alleged incidents stretching back more than a decade, creating working conditions that led many women to quit.
The FDIC had earlier announced that a bipartisan special committee not involving Gruenberg would oversee the agency's own independent review of its workplace culture.
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