WASHINGTON–Despite enormous scrutiny and highly publicized reports of a “sexualized boys club culture,” the FDIC has yet to implement an effective sexual harassment prevention program that facilitates the reporting of sexual harassment misconduct allegations, according to a report from the agency’s Office of the Inspector General.
The FDIC has “not always investigated and addressed allegations of sexual harassment promptly and effectively,” the OIG said.
As CUToday.info reported earlier, the OIG report comes after the FDIC commissioned an external investigation into its culture following an extensive investigation by the Wall Street Journal that found a “toxic” culture that led countless women to resign.
The agency’s chairman, Martin Gruenberg, is also stepping down as soon as his replacement is confirmed by the Senate.
The Findings
The FDIC OIG report found:
- FDIC leadership at several levels has not demonstrated sufficient commitment to, and accountability for, the AHP
- The FDIC has not implemented an effective program structure or dedicated sufficient resources to the program
- The FDIC does not have an effective system for tracking, addressing, and documenting allegations
- The FDIC has not established adequate complaint procedures or an adequate AHP policy
- The FDIC has not provided sufficient training to its supervisors and staff,” the report states.
‘Environment of Distrust’
According to the OIG, those shortcomings have occurred “because the FDIC has not sustained many program improvements that were initiated as a result of our prior 2020 evaluation. As a result, the FDIC is experiencing an environment of distrust, and many employees do not feel comfortable reporting sexual harassment at the FDIC or are afraid of reporting for fear of retaliation. The FDIC has developed and begun implementing an Action Plan for a Safe, Fair, and Inclusive Work Environment that includes eight action areas described in this report.”