FDIC Hires Cleary Gottlieb for Independent Culture Review

Washington — The Federal Deposit Insurance Corporation (FDIC) has taken a significant step in addressing allegations of workplace misconduct by appointing the prestigious law firm of Cleary Gottlieb Steen & Hamilton LLP to conduct an independent review. This move comes after growing concerns about the agency’s workplace culture, particularly regarding sexual harassment and interpersonal misconduct.

The Special Committee of the FDIC Board of Directors has been tasked with overseeing this third-party investigation. Led by former Acting U.S. Attorney for the Southern District of New York, Joon H. Kim, the Cleary Gottlieb team includes Jennifer Kennedy Park and Abena Mainoo, both of whom have extensive experience in investigating workplace misconduct.

“The Special Committee is committed to an independent and thorough review,” said Michael J. Hsu, co-chair of the committee. “We believe that Cleary Gottlieb’s track record in these matters ensures that we will receive a comprehensive and unbiased assessment.”

Allegations of sexual harassment and inappropriate conduct have been at the forefront of the FDIC’s recent issues. The independent review will not only examine the allegations but also assess the broader workplace culture, including any practices that may deter employees from reporting incidents of harassment or misconduct.

The Special Committee encourages both current and former FDIC employees who have witnessed or experienced such behavior to come forward. Cleary Gottlieb has established a secure form at https://www.fdicinvestigation.com/ for individuals to share their experiences, with the option to remain anonymous.

This move by the FDIC is part of a broader effort to address systemic issues within the agency and ensure a safe and respectful working environment for all employees.