FDIC Chairman Martin Gruenberg Won’t Oversee Misconduct Probe

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The Federal Deposit Insurance Corp. board is forming a special committee to oversee an independent review of the agency’s workplace culture, the agency said Tuesday, restricting the ability of the rest of the board—including the chairman—to influence the investigation.

The special committee, created by a unanimous vote of the board, will be led by Republican Jonathan McKernan, who was confirmed to the board by the Senate late last year, and Democrat Michael Hsu, who has served as acting comptroller of the currency and an FDIC board member since 2021. 

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