Federal Deposit Insurance Corp. (FDIC) Chair Martin Gruenberg announced Monday he will resign once his successor is confirmed by the Senate after several reports documented a culture of sexual harassment, misconduct and retaliation at the agency under his leadership.

Gruenberg's announcement followed months of pressure from lawmakers and mounting allegations of inappropriate workplace conduct against him and other senior FDIC officials.

"It has been my honor to serve at the FDIC as Chairman, Vice Chairman, and Director since August of 2005. Throughout that time I have faithfully carried out the critically important mission of the FDIC to maintain public confidence and stability in the banking........

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