The FDIC board of directors unanimously approved a special committee to oversee an independent third-party review of the agency’s workplace culture following reports of misconduct.
Details: In a statement, the board said Directors Jonathan McKernan and Michael Hsu will co-chair the committee and may appoint up to three additional nonvoting members, likely from outside the FDIC.
Hill Statement: FDIC Vice Chairman Travis Hill said in a statement that the resolution establishing the committee restricts the ability of FDIC management and board members not on the panel to engage with or influence the review.
Gruenberg Statement: FDIC Chairman Martin Gruenberg said in a statement that he welcomes the review and would play no role in overseeing it.