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Press Release
Special Committee Provides Update on Third-Party Review
Additional Contact Method Established and Confidentiality Restrictions Waived
February 15, 2024

For Release

WASHINGTON – The Special Committee of the Federal Deposit Insurance Corporation (FDIC) Board of Directors established to oversee an independent third-party review of the agency’s workplace culture issued the following statement today:

“The Special Committee and the law firm of Cleary Gottlieb Steen & Hamilton LLP (Cleary Gottlieb) have been working diligently on the independent review.

“The Special Committee encourages anyone who witnessed or experienced any sexual harassment or hostile, abusive, unprofessional, inappropriate or other interpersonal misconduct at the FDIC to share their experiences with Cleary Gottlieb. Individuals may reach out by calling a dedicated hotline (202-974-1643), sending an email ( FDICinvestigation@cgsh.com ) or by filling out an electronic form ( https://www.fdicinvestigation.com/ ). Reports can be left anonymously.

“The scope of the independent review includes allegations of sexual harassment and interpersonal misconduct at the FDIC and management’s response to that harassment and misconduct. The independent review is also assessing the FDIC’s workplace culture, including any practices that might discourage or deter the reporting of or responding to sexual harassment and interpersonal misconduct. The Special Committee acknowledges more recent media reports relating to matters within the scope of the independent review, and continues to encourage reporting of issues through the different means identified.

“More than 350 people have contacted Cleary Gottlieb. For individuals who leave contact information, the Special Committee has set goals to respond within 48 hours. Cleary Gottlieb has also been reaching out to and conducting interviews with FDIC staff from various Divisions and Regional Offices. The Special Committee recognizes it can be difficult for some to share their stories and appreciates and supports those who have chosen to do so.

“To facilitate cooperation with the independent review and investigations by the FDIC’s Office of Inspector General (OIG) and Congress, the FDIC has agreed to waive any confidentiality restriction currently in place with employees that would otherwise preclude them from discussing specifics of their case or management’s responses to Cleary Gottlieb, the FDIC’s OIG, or any Congressional committee or subcommittee. Accordingly, an individual is free to share documentation or other information related to harassment, interpersonal misconduct, or the FDIC’s workplace culture with investigators, even if prohibited by terms of a settlement agreement or a nondisclosure agreement (NDA) with the FDIC.

“The Special Committee is aiming to complete its independent review in the second quarter of 2024.”

PR-7-2024
Last Updated: February 15, 2024