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FDIC Chair Martin Gruenberg said Monday that he is prepared to step down less than a week after he rebuffed bipartisan calls to resign, a shake-up that could have implications for an aggressive campaign to impose tougher regulations on US banks. Gruenberg has been reeling from reports revealing a toxic workplace riddled with sexual harassment, bullying, and other misconduct, including a 234-page independent review commissioned following stories published by the Wall Street Journal. As recently as last week, the FDIC boss made it clear he wanted to remain in charge so he could help the agency fix its problems. That changed this week as his support on Capitol Hill eroded. "In light of recent events, I am prepared to step down from my responsibilities once a successor is confirmed," he said in a release. "Until that time, I will continue to fulfill my responsibilities as Chairman of the FDIC, including the transformation of the FDIC’s workplace culture." Perhaps the turning point came a

2023 has been a dramatic year — featuring everything the second- and third-largest banking collapse in US history, historic victories won by labor unions and the rise of ChatGPT and generative AI.  Let's take a look back at some of the financial news headlines that shaped the year Silicon Valley Bank and First Republic Bank (NYSE:FRC) fail  In March, the Federal Deposit Insurance Corporation (FDIC) took over the assets of Silicon Valley Bank after it lost $1.8 billion on an asset sale.

Jamie Dimon's bank has offered employment to nearly 85% of First Republic employees in a transitional or full-time role.

JPMorgan notified about 1,000 First Republic Bank employees that they aren't being given jobs even temporarily following its takeover of the failed lender. Hannah Levitt reports on "Bloomberg Markets: The Close.

JPMorgan Chase and Co has notified about 1,000 First Republic Bank employees that they are not being given jobs, even temporarily, following its takeover of the failed lender, Bloomberg News reported on Thursday, citing a person with knowledge of the matter.

JPMorgan Chase & Co has told customers with personal credit lines at First Republic Bank that it will no longer offer those when they come up for renewal, The Information reported on Thursday, citing correspondence it had viewed.

Though First Republic was widely known for offering generous rewards to staff, some potential rescuers were surprised by the compensation figures on display.

First Republic Bank was paying dozens of employees more than $10 million apiece annually in the heyday before its collapse, Bloomberg News reported on Thursday, citing people familiar with the matter.

Yahoo Finance's Julie Hyman analyzes a report from Bloomberg that the U.S. Department of Justice is reviewing First Republic Bank staffers' stock trades.

U.S. prosecutors are reviewing stock trading by some of First Republic Bank's employees during the lender's recent collapse, Bloomberg Law reported on Wednesday, citing people familiar with the matter.