Martin Gruenberg, chairman of the United States Federal Deposit Insurance Corporation (FDIC), will step down following a scathing investigation revealing a toxic workplace culture at the agency. On May 20, Gruenberg announced his intention to resign from his position as chair, a role he has held since August 2005. He stated in an email to staff, “In light of recent events, I am prepared to step down from my responsibilities once a successor is confirmed. Until that time, I will continue to fulfill my responsibilities as Chairman of the FDIC, including the transformation of the FDIC’s workplace culture.” The FDIC,
