FDIC Special Review Committee Releases Independent Report on Workplace Misconduct and Culture

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Summary:

The Federal Deposit Insurance Corporation (FDIC) has released a report on the findings of an independent third-party review into allegations of sexual harassment and other interpersonal misconduct at the FDIC. The review was conducted by Cleary Gottlieb and overseen by the Special Committee of the FDIC Board of Directors. The report finds that the FDIC has failed to provide a workplace safe from sexual harassment, discrimination, and other misconduct, and that management's responses to allegations have been insufficient and ineffective. The report highlights the bravery of over 500 FDIC current and former employees who shared their stories with Cleary Gottlieb and calls for a culture transformation at the FDIC. The Special Committee acknowledges the importance of fostering an environment that promotes a safe, respectful, and inclusive workplace.