Iowa Senator Joni Ernst is calling on the chairman of the Federal Deposit Insurance Corporation to immediately resign. The agency protects depositors from losses if a bank or savings and loan fails. Ernst says an independent investigation released 43 days ago found the F-D-I-C’s chairman failed to protect employees from a toxic workplace.

In May, the top Democrat on the Senate Banking Committee called on Gruenberg to resign and Guenberg announced a few hours later that he would step down AFTER his successor is confirmed by the U-S Senate. Ernst, a Republican from Red Oak, says Gruenberg has fostered a raunchy frat house atmosphere in the agency and he needs to go immediately.

President Biden has nominated a regulator on the Commodity Futures Trading Commission to take Gruenberg’s place at the F-D-I-C. Ernst says she looks forward to reviewing Christy Goldsmith Romero’s credentials, but a significant amount of time will pass before the senate votes on the nomination.

Democrats say if Gruenberg resigns before he’s replaced, there would be two Republicans and two Democrats left on the F-D-I-C board and tie votes could delay some banking regulations from taking effect. The F-D-I-C was formed during the Great Depression to restore trust in the American banking system. Over 57-hundred people currently work in the agency.