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FDIC Chair Martin Gruenberg will resign following a scathing investigation that detailed a toxic workplace

By Elisabeth Buchwald, CNN New York (CNN) — Martin Gruenberg, head of the Federal Deposit Insurance Corporation, will step down following a scathing independent investigation detailing pervasive sexual harassment, discrimination and bullying at the agency charged with regulating the banking sector. “In light of recent events, I am prepared to step down from my responsibilities

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Senate Banking Committee Chair calls for ‘new leadership’ at the FDIC following scathing report

By Elisabeth Buchwald, CNN New York (CNN) — Sen. Sherrod Brown, a Democrat who heads the Senate Banking Committee, is calling for a leadership overhaul at the Federal Deposit Insurance Corporation following a scathing 234-page report released earlier this month that detailed pervasive sexual harassment, discrimination and bullying at the agency. Brown stopped short of explicitly

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Red Lobster has filed for bankruptcy protection.

Red Lobster files for bankruptcy

By Nathaniel Meyersohn, CNN New York (CNN) — Red Lobster, which brought affordable shrimp and lobster to middle-class America and grew to become the largest seafood restaurant chain in the world, has filed for bankruptcy. The company said it had more than $1 billion in debt and less than $30 million in cash on hand.

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