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Establishment of Special Committee to Oversee Independent Review of FDIC Workplace Culture

Vice Chairman Travis Hill
 Statement  
November 21, 2023

I support the establishment of a Special Committee co-chaired by Directors McKernan and Hsu to oversee a third-party review of recent allegations of harassment and unprofessional conduct at the FDIC.  I have had a number of conversations with current and former employees over the past week that have reinforced the need for the review to be truly independent – to encourage those who have been subject to inappropriate conduct to participate, and for the results to be viewed credibly. 

To that end, the Board resolution approved last night includes several provisions that restrict the ability of FDIC management and FDIC Board members not on the Special Committee to engage with or influence the review.  I agreed to support the resolution in part due to the inclusion of these provisions. 

I know many employees, myself included, are proud to be associated with the FDIC and its mission.  But that is not something we should take for granted.  Pride and trust always and continually need to be earned, nobody is entitled to them, and I hope the FDIC comes out of this a better agency on the other side. 

Last Updated: November 21, 2023