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. |
UN official warns of unfolding tragedy in Gaza, urges immediate actionChina's industrial profits up 4.3 pct in Q1Formula 1 Grand Prix makes roaring comebackCrown Prince Hussein of Jordan wishes his wife a happy birthday in gushing postUrban festival brings Olympic athletes closer to audienceIran vows 'harsher' response should Israel 'make another mistake'China stay perfect in Thomas & Uber CupInner Mongolia one win away from WCBA titleThe symbolism behind Meizhou's Mazu chignon headdressChina calls for early end of catastrophe on Palestinians