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. |
China celebrates 30 years of internet access, boasting over 1 billion usersHurricanes shut down on power play again, fall into 0Shakira puts on a busty display in ravishing red dress with billowing sleeves at 2024 Met Gala2024 Met Gala: Cara Delevingne flashes her abs in a quirky hooded garment adorned with glitzy gemsXi chairs symposium on boosting development of China's western region in new eraVirtual humans helping spur eHurricanes shut down on power play again, fall into 0Former Chinese bank official stands trial for briberyMet Gala 2024: Jodie TurnerSymposium on compilation of Xi Jinping's financial discourses held in Beijing