The Federal Deposit Insurance Corporation announced the conclusion of its independent monitorship, ending external oversight that was established following an independent review that found widespread sexual harassment and discrimination within the agency.
A review by law firm Cleary Gottlieb Steen & Hamilton found the FDIC had "failed to provide a workplace safe from sexual harassment, discrimination, and other interpersonal misconduct" and that "a patriarchal, insular, and risk-averse culture has contributed" to such conditions.
Since the monitorship was established, the FDIC underwent complete turnover of its Board of Directors, widespread changes in senior agency leadership, and new leadership in most Divisions, Offices, and Regional Offices. The agency also fully implemented all recommendations from its Office of Inspector General related to workplace culture.
The FDIC said it remains committed to sustaining these reforms and maintaining a workplace where employees are treated with professionalism and respect.