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Federal Deposit Insurance Corporation Board of Directors Chairman Martin Gruenberg, testifies during the House Committee on Financial Services hearing on oversight of prudential regulators, Wednesday, Nov. 15, 2023, on Capitol Hill in Washington. The most powerful Democrat in Congress on banking and financial issues called for President Joe Biden to replace the chairman of the Federal Deposit Insurance Corporation on Monday, May 20, 2024, saying the agency is broken and there must be “fundamental changes at the FDIC.” (AP Photo/Mariam Zuhaib, File)

FDIC chairman to step down following report on agency’s ‘toxic culture,’ White House says

By Ken Sweet - Associated Press

FILE - The Federal Deposit Insurance Corporation (FDIC) seal is shown outside its headquarters, March 14, 2023, in Washington. An independent review released Tuesday, May 7, 2024, of the Federal Deposit Insurance Corp. 's workplace culture describes an environment that fostered “hostile, abusive, unprofessional, or inappropriate conduct," and questions whether the agency's chairman is credible to lead the agency through a cultural transformation. (AP Photo/Manuel Balce Ceneta, File)

FDIC chair is grilled on Capitol Hill after report outlines agency’s toxic workplace culture

By Fatima Hussein - Associated Press