US Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg is due to testify before the US Senate and US House of Representatives this week. The Wall Street Journal and others have speculated that his response to questions regarding the scathing independent review of the FDIC's culture published last week will likely decide his fate as leader of the agency.
The FDIC commissioned the report from law firm Cleary Gottlieb following a bombshell WSJ report detailing allegations of widespread sexual harassment and discrimination at the agency. Alongside verifying these claims and painting a rather grim portrait of life at the FDIC, the report also outlined incidents of allegedly "volatile" behavior from Gruenberg, who has been accused of having a short temper.
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