FDIC chair apologizes to staff after probe finds toxic workplace culture

FDIC Chair Martin Gruenberg apologized to his staff Tuesday after an investigation by a law firm confirmed a report that sexual misconduct, lewd behavior and retaliatory administrative practices were rampant at the federal banking regulator.

“To anyone who experienced sexual harassment or other misconduct at the FDIC, I again want to express how very sorry I am,” Gruenberg wrote. “I also want to apologize for any shortcomings on my part.”

Gruenberg said the investigation undertaken...