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Investigative report – FDIC Had A Culture Of Harassment And Discrimination

The Hill: “An investigation by a law firm confirmed that the Federal Deposit Insurance Corp. failed to provide a workplace safe from sexual harassment, discrimination, fear of retaliation, and called for a “necessary” cultural and structural change at the federal banking regulator. The review, Report for the Special Review Committee of the Board of Directors of the Federal Deposit Insurance Corporation, conducted by the Cleary Gottlieb Steen & Hamilton, sharply criticized the toxic work environment at the FDIC. The “patriarchal, insular, and risk-adverse culture” has resulted in the underreporting of misconduct and the response from management has been insufficient, the report said. More than 500 employees participated in the investigation, “often painfully and emotionally recounting experiences of sexual harassment, discrimination, and other interpersonal misconduct that they have suffered at the FDIC.”

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