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Martin Gruenberg has announced he will step down as chair of the Federal Deposit Insurance Corporation, after an investigation found a “misogynistic” workplace culture at the agency and raised questions about his leadership.
“In light of recent events, I am prepared to step down from my responsibilities once a successor is confirmed,” Gruenberg, who has been with the bank regulator since 2005, said in a statement on Monday.
“I have faithfully carried out the critically important mission of the FDIC to maintain public confidence and stability in the banking system,” he added.
The FDIC had commissioned the independent report, which was released earlier this month, in response to press accounts of harassment and discrimination against female employees.
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