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US Treasury Secretary Advocates for Transformation in FDIC Leadership amidst Sexual Harassment Controversy
Janet Yellen, the US Treasury Secretary, underscored the importance of an impactful change in the leadership of the Federal Deposit Insurance Corp (FDIC) on Friday. Yellen emphasized that the next chairperson should essentially be an outsider, truly committed to eliminating the issue of sexual harassment.
Need for a Credible Outsider
In an interview with Reuters during a G7 finance meeting, Yellen revealed that the regulator of FDIC must be replaced by a person with a proven track record of strong stance on issues akin to sexual harassment. This comes in the wake of an independent investigation that unearthed deep-rooted sexual harassment in the corporation, leading to the resignation of Martin Gruenberg, the current chair, earlier this week.
Addressing Cultural Issues
Yellen laid emphasis on the fact that the forthcoming chair should be somebody not associated with the issue in any way. More specifically, the individual must be capable of undertaking decisive steps to rectify the existing system to handle sexual harassment claims. Changing the whole system is needed to address the cultural roots of this issue, suggested Yellen.
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