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. |
News organizations have trust issues as they gear up to cover another election, a poll findsPump the brakes! US safety regulator announces HUGE change to all new cars and trucksBirkin bags worth up to $100,000 become the number one target for burglars in LAEU, UN reschedule launch of antiFamily of Microsoft executive Brad Smith joins Seattle Mariners ownership groupBritain's women's gymnastics coach steps down ahead of European event and Paris OlympicsLess alcohol, or none at all, is one path to better healthWarsaw synagogue attacked with three firebombs in the night, but no one is hurtRyan Gosling, Mikey Day reprise Beavis and ButtTottenham manager Postecoglou jokes he's moving to Sweden for a life without VAR