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FDIC Chairman To Resign After Sexual Harassment Scandal
In the first - but certainly not last - major shake up at a key US financial regulator under the Biden admin, Federal Deposit Insurance Corp. Chairman Martin Gruenberg bowed to pressure to resign from the bank regulator after an external investigation found widespread sexual harassment at the agency and lawmakers of both parties berated his leadership, capping a nearly two-decade career at the agency. In a press release, Gruenberg said he would resign once a successor had been confirmed, avoiding an outcome that would leave FDIC Vice Chairman Travis Hill, a Republican, as the agency’s acting chairman. Hill is a ... (full story)