FDIC did not report allegations of senior officials' misconduct 'in a timely manner,' watchdog says

• The Federal Deposit Insurance Corp. failed to report allegations of senior officials' misconduct in a timely manner, according to a new memo from the agency's internal watchdog.
• The letter, sent by Inspector General Jennifer Fain to Chair Martin Gruenberg on Thursday, is the latest development in a monthslong probe of sexual abuse and harassment at the FDIC.
• An April report concluded "the FDIC has failed to provide a workplace safe from sexual harassment, discrimination, and other interpersonal misconduct."

The Federal Deposit Insurance Corp. failed to report allegations of senior officials' misconduct in a timely manner, according to a new memo from the agency's internal watchdog.

The letter, sent by Inspector General Jennifer Fain to Chair Martin Gruenberg, is the latest development in a monthslong probe of sexual abuse and harassment at the FDIC. Gruenberg announced on Monday that he plans to resign as soon as his successor is confirmed.

The Office of Inspector General "learned of several allegations of misconduct regarding senior FDIC officials that were not reported to the OIG in a timely manner," said the letter, dated Thursday. "The OIG is now reviewing these allegations to determine how they should be incorporated into OIG work plans."

Fain wrote in the letter than the watchdog is following up with FDIC's Office of Minority and Women Inclusion and other employee relations departments "to identify if there are additional allegations that have not been reported to the OIG."

In its response to the memo, the FDIC said it "welcomes coordinating with the OIG to develop and implement a process to notify the OIG of misconduct allegations, include the OIG Hotline as a reporting option for misconduct, and reminding FDIC