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WSJ What’s News

FDIC Chair Under Fire Amid Allegations of Toxic Workplace Atmosphere

WSJ What’s News

The Wall Street Journal

Daily News, News

4.14.2K Ratings

🗓️ 16 November 2023

⏱️ 12 minutes

🧾️ Download transcript

Summary

P.M. Edition for Nov. 16. The chair of the FDIC, one of the nation’s top banking regulators, allegedly turned a blind eye to misconduct at the agency. This week, a WSJ investigation revealed a longtime toxic culture at the FDIC. Investigative reporter Rebecca Ballhaus has more. Plus, more student borrowers are filing for bankruptcy to get rid of their debt. National economics reporter Gabriel T. Rubin explains. Annmarie Fertoli hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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Your customers will thank you. The The F. D.I.'s chair allegedly turned a blind eye to misconduct at the agency.

0:32.0

And more student borrowers are filing for bankruptcy to get out of debt.

0:37.0

The trend line is the important thing and it's what we'll need to watch going forward

0:40.0

to see if this becomes a viable option for struggling student loan borrowers.

0:45.0

Plus, in a first, Hyundai announces it will sell new cars on Amazon.

0:50.0

It's Thursday, November 16th.

0:52.0

I'm Anne-Marie Fertulli for the Wall Street Journal.

0:54.4

This is the PM edition of What's News, the top headlines and business stories that

0:58.8

moved the world today. Thank you.

1:08.0

FDIC Chair Martin Grunberg has come under fire for his leadership this week after a Wall Street Journal investigation

1:14.5

revealed a long-time toxic culture at the agency. The FDIC cancelled a scheduled public

1:19.9

meeting of its board today and now two Republicans on the board have called for Grunberg

1:24.4

and the general counsel to recuse themselves from an investigation into the agency's workplace

1:28.9

culture.

1:29.9

Today we exclusively reported that Grunberg himself has built a reputation for

1:34.0

bullying and having an explosive temper according to current and former FDIC

...

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