Independent report reveals widespread sexual harassment and misconduct at the FDIC, recommending organizational changes and an internal monitor.

The Federal Deposit Insurance Corp. (FDIC) must make sweeping changes to address widespread sexual harassment and other misconduct, according to an independent report commissioned by the top bank regulator. The report by law firm Cleary Gottlieb Steen & Hamilton found credible allegations of a toxic environment for bank examiners and recommended changes to the agency's performance review process, workplace conduct metrics, and installing an internal monitor to oversee the effort. More than 500 individuals reported instances of misconduct at the FDIC, with the majority being current employees.

May 07, 2024
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