Recent reporting on the FDIC should shock us all. A full accounting is required. As initial steps, I urge that the FDIC board:
- Release victims from their confidentiality agreements
- Figure out why no perpetrator was fired—even one who texted nude photos to co–workers
- Expand the investigation to cover workplace culture
- Ensure the investigation is truly independent by forming a board committee to direct the outside law firm’s review
It is important that the FDIC board itself—not FDIC management—direct this investigation. It is hard for an agency to investigate itself; this review is more likely to be objective if the outside law firm is directed by a committee of independent FDIC board members.