“I take full responsibility”: Chair Martin Gruenberg apologizes after report details rampant sexual harassment at FDIC.

Federal Deposit Insurance Corporation Chair Martin Gruenberg on Wednesday apologized after a report detailed rampant sexual harassment and racial discrimination at his agency.

“I accept the findings of the report, and as chairman I take full responsibility. To anyone who has experienced sexual harassment, discrimination, or other misconduct at the FDIC. I again personally want to apologize and express how deeply sorry I am,” Gruenberg said, testifying before the House Financial Services Committee. “I also acknowledge my own failures as chairman, both in failing to recognize how my temperament in meetings impacted others, and for not having identified the deeper cultural issues at the FDIC sooner.”

Gruenberg has faced increasing scrutiny following a report, released last week by a law firm, that found that the FDIC’s “patriarchal” culture resulted in the underreporting of misconduct, as well as accounts of Gruenberg losing his temper on employees. The report found that senior officials for years sexually harassed, discriminated against, and abused mostly women and minority employees.

Gruenberg, who faced pressure from Republicans and Democrats for the report's finding, testified to the committee that he and his staff were already working on making changes.