FDIC Chair Martin Gruenberg rebuffed bipartisan calls to resign during a heated House hearing Wednesday, as lawmakers pressured him about a report that revealed a toxic workplace riddled with sexual harassment, bullying and other misconduct.
"As chairman, I take full responsibility," Gruenberg said in testimony before the House Financial Services Committee. Committee Chair Patrick McHenry said that he is not the right person to fix the FDIC's workplace culture.House Financial Services Committee Chair Patrick McHenry. "The fact that you have yet to resign proves you take no responsibility for your actions. And let me be clear, showing up today is not an act of courage, it’s an act of hubris."in the wake of last spring's regional bank crisis.
Michael Barr, the Fed's vice chairman for supervision also said Wednesday that he expects "broad, material changes" to the proposal.