A new exposé this week paints bank regulator Federal Deposit Insurance Corp. like a toxic work environment where you visit strip clubs, have sex with subordinates and drink on the job… not to mention men texting co-workers pictures of their genitalia – they were all part of the “everyday” culture.
The Wall Street Journal The expose was published Monday, and hours later, FDIC Chairman Martin Gruenberg announced that the agency has hired BakerHostetler for a comprehensive review below. In a staff video, Gruenberg stated that necessary changes would be made based on the law firm’s findings.
The paper’s investigation revealed several incidents at the FDIC, including a male supervisor in Denver having sex with an employee, bragging about it to colleagues and encouraging him to consume alcohol during work hours.
In addition, it was reported that senior bank examiners sent inappropriate images to female staff and extended invitations to a strip club, according to the Wall Street Journal. Despite these allegations, the men involved remain on the FDIC payroll.
This ongoing problem of misconduct and the apparent absence of disciplinary action has forced many female employees to consider leaving the organization, as evidenced by interviews, legal documents, union complaints, EEOC filings, and various internal communications reviewed at the report
The Journal reports that female examiners characterized the FDIC as a male-centered and sexually charged workplace, where discussions of women’s appearance were common.
Underscoring the gravity, a former employee told male colleagues that they suggested women should resort to sexual favors to advance their careers, while looking directly at her. In addition, the outlet’s extensive interviews, more than 100 with current and former staff, including more than 20 women who resigned, indicate a widespread belief among female employees of unequal opportunities compared to their male counterparts.
Lauren Lemmer, a former examiner in training, commented: “It was just an accepted part of the culture.”
Examiner Neha Singh, who joined in 2017, said she felt pressured to drink every night. “I felt really taken advantage of at a time when I was totally vulnerable,” she said after being told “You seem a bit cocky” when she turned down drinks with co-workers.
Singh resigned from the FDIC in 2022, within her first year of becoming a fully qualified examiner, after receiving her commission. She claimed that she clearly informed senior management that her departure was due to what she perceived as a culture of harassment and misogyny. According to Singh, one of the managers acknowledged hearing similar complaints from other female employees and admitted it was a problem.
Another former employee, Kelsi Foutz, said: “For a long time, I had no perspective. It was normal. You’re in charge.”
He recalled a time when he was told not to raise the issues he had about his 2018 performance review because the reviewer, he was told, was only “intimidated by tall, beautiful women.”
“Just smile and make him feel good,” her male counterparts told her. A co-worker told her in 2013: “Obviously, if I walked into this office and you were naked, I’d fuck you right here.”
The newspaper reported that women on the FDIC’s staff said the agency’s toxic work culture persisted across the country, not just at headquarters in Washington, DC. This pervasive atmosphere, especially during off-site bank inspections, led to it being called the “Wild West.”
In one case, a female examiner, while on assignment in North Carolina in 2018, received an unsolicited explicit image from a colleague, but chose not to confront it because of the working proximity In addition, Lemmer, who left the FDIC in 2013, recounted several incidents of inappropriate behavior, including being followed into his hotel room, invited to a strip club and given an explicit photo, all of which coincided with his ignored to advance his career. the report he says
You can read the newspaper full exhibit here.
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