WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu issued the following statement at yesterday’s Federal Deposit Insurance Corporation (FDIC) board meeting regarding the creation of the Office of Professional Conduct and the Office of Equal Employment Opportunity.
I strongly support the creation of the Office of Professional Conduct (OPC) and the Office of Equal Employment Opportunity (OEEO).
The employees of the FDIC need and deserve a safe and inclusive workplace. For far too long, however, the fear of retaliation and a confusing, ineffective complaints process have prevented that. Such fear and confusion led to underreporting, a lack of accountability, and space for wrongdoers to perpetuate the old boys’ club.
As the Cleary Report notes, fixing this requires cultural and structural transformation. Replacing the agency’s broken internal processes with the OPC and OEEO is a critical step in that transformation.
The OPC would serve as a single point of entry to intake, investigate with the support from third parties, report, determine discipline, and represent the FDIC in any challenges to that discipline regarding complaints of harassment and other interpersonal misconduct or complaints of retaliation for reporting such harassment or misconduct. The OEEO would manage the agency’s Equal Employment Opportunity Program and serve as a single point of entry to intake, investigate with the support from third parties, process, and report about complaints of discrimination. Each office would be led by a Director, who would be a new Officer of the FDIC. The offices and their Directors would report directly to the Board of Directors to ensure accountability and mitigate the risk of retaliation by supervisors. The investigations conducted by the OPC and OEEO would be supported by third-party investigators to ensure independence and expertise.
The creation of these offices is an important step in protecting the employees of the FDIC and earning back their trust. I strongly support this action.
SINGAPORE — Today, the Financial Action Task Force (FATF), the global standard-setting body for anti-money…
Regulations help taxpayers file accurate returns and pay taxes already owed under current law.WASHINGTON –…
WASHINGTON – On October 8, 2021, a historic agreement was reached between over 130 countries…
As Prepared for DeliveryGood morning. I’m glad to be co-hosting this event with Administrator Power.…
WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported on the performance of first-lien…
WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported cumulative trading revenue of U.S.…