The Federal Deposit Insurance Corporation must make sweeping changes to address widespread sexual harassment and other misconduct, according to an independent report published on Tuesday that raises questions about the future of the banking regulator’s leadership.
The report, prompted by a Wall Street Journal investigation, cited accounts from more than 500 people, including some who alleged that FDIC Chairman Martin Gruenberg had engaged in intimidation and verbal abuse.
Overall, the report from law firm Cleary Gottlieb paints a picture of an agency in which sexual harassment, racial discrimination and bullying were pervasive at all levels and tolerated by senior leaders for yearsaccording to a report by the Reuters news agency.
“For too many employees and for too long, the FDIC has failed to provide a workplace safe from sexual harassment, discrimination and other interpersonal misconduct,” indicates the law firm’s report.
And adds that Those accused of misconduct were frequently reassigned to new roles.
Extract and adaptation of an article by Douglas Gillison and Pete Schroeder, from the Reuters news agency
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