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The Impact of the FDIC Scandal

The Impact of the FDIC Scandal

by Starling Insights

Starling Insights Editorial Board

Nov 20, 2023


Last week, a bombshell Wall Street Journal article portrayed a culture of partying and harassment at the US Federal Deposit Insurance Corporation (FDIC). Further reports alleging that Chairman Martin Gruenberg ignored such behavior and contributed to the "toxic atmosphere" by bullying subordinates have put the FDIC's mission at risk.

During Congressional Hearings following the initial report by journalist Rebecca Ballhaus, Gruenberg assured that the agency does not tolerate harassment or discrimination. However, Gruenberg has himself faced criticism for allegedly having an "explosive temper" and developing a reputation for bullying employees.

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