Banks may be losing the credit card wars

Federal Deposit Insurance Corp. Chair Martin Gruenberg told staff this morning he would resign from the agency on Jan. 19.

The decision marks the end of a long and painful chapter at the FDIC, which has limped through significant public scrutiny following reports of a toxic workplace culture last year. Gruenberg’s decision to resign comes fewer than 24 hours before the long-time regulator is expected to testify before the House.