Press Releases

McHenry, Huizenga, Barr Demand OIG Briefing on FDIC’s Workplace Culture
Letter follows reports of widespread, entrenched misconduct by FDIC employees

Washington, November 14, 2023 -

The Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), the Chairman of the Subcommittee on Oversight and Investigations, Bill Huizenga (MI-04), and the Chairman of the Subcommittee on Financial Institutions and Monetary Policy, Andy Barr (KY-06) sent a letter to the Office of the Inspector General (OIG) for the Federal Deposit Insurance Corporation (FDIC). In light of recent reports regarding widespread and entrenched misconduct by FDIC employees, the Chairmen are demanding the OIG expeditiously provide a briefing on the FDIC’s workplace culture.

Read the full letter to the FDIC OIG here or below:

“Dear Mr. Smith:

“Numerous disturbing allegations have been made regarding the Federal Deposit Insurance Corporation’s (FDIC) workplace culture. Reports allege that the agency maintains a culture that perpetuates sexual harassment, misogyny, and other acts of misconduct – a severe departure from the agency’s effective operations to execute its mission. According to the Wall Street Journal, ‘reports of the agency’s problems stretch back more than a decade and have persisted through changes in leadership, administrations and internal investigations.’

“As a partner in oversight, the FDIC Office of Inspector General (OIG) plays a vital role in oversight of the FDIC against potential waste, fraud, abuse, and mismanagement of FDIC programs and operations. In a July 2020 report, your office highlighted that the ‘FDIC had not established an adequate sexual harassment prevention program.’ The report, along with recent reporting seems to confirm the longstanding pattern of FDIC employees creating an unsafe work environment for their colleagues and a failure of the FDIC to take appropriate corrective action.

“The Committee on Financial Services (Committee) takes these allegations very seriously, and any misconduct must be addressed. This Committee not only has a duty to oversee the execution of the laws by the Administration, but we must also ensure that civil servants of our financial regulators are able to perform their duties without fear of harassment or retaliation.

“The Committee has jurisdiction to oversee the activities of the Federal Deposit Insurance Corporation pursuant to Rule X of the Rules of the House of Representatives. To better understand the investigative efforts of the FDIC OIG into these matters, please provide a briefing to Committee staff, no later than November 27, 2023. Thank you for your attention to this important matter.”


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