Overview

• A 234-page report uncovered widespread sexual harassment and discrimination at the FDIC, involving nearly 10% of employees.
• Martin Gruenberg announced his resignation but will remain until a new chair is confirmed, which could take months.
• The scandal complicates Biden's position due to his pro-union stance and previous commitments to workplace respect.
• Experts argue that long-term reform is needed beyond leadership changes to address the FDIC's toxic culture.
• The delay in appointing a new chair could weaken regulatory efforts and impact pending financial regulations.