Embattled FDIC Chair Says He’s Ready to Resign After Damning Workplace Probe

Months after he was accused of overseeing a “boy’s club” workplace rife with misogyny and harassment, the FDIC Chairman Martin Gruenberg said Wednesday he’s prepared to step down once a successor is confirmed.

“In light of recent events, I am prepared to step down from my responsibilities once a successor is confirmed,” he said. “Until that time, I will continue to fulfill my responsibilities as Chairman of the FDIC, including the transformation of the FDIC’s workplace culture.”

A Wall Street Journal report in November marked the beginning of Gruenberg’s downfall, with women at the FDIC claiming male employees got to keep their jobs despite sending colleagues pictures of their penises, inviting others to a strip club, and speaking openly about having sex with a subordinate. The agency was also accused of tolerating a messy drinking culture, with staffers having allegedly urinated off the roof and vomited in the elevator of a hotel where employees are housed for trainings.

Read more at The Daily Beast.