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The federal agency that oversees the financial condition of U.S. banks says it will offer voluntary early retirement to about 20% of its 5,800 employees.Agency officials say the early retirements could create a more highly skilled workforce with the goal of attracting employees with a new set of skills.The Federal Deposit Insurance Corp. announced the move Thursday, saying it isn’t designed to reduce its budget or the total size of the workforce. About 42% of the current workforce is eligible for retirement within five years, the FDIC says. A wave of potential retirements could sap the agency’s institutional knowledge, especially during a crisis, the FDIC’s inspector general said in a recent report.In addition, the FDIC plans to close a handful of field offices, and to relocate and consolidate others. No staff involved in examining banks will be affected, the agency says.“This program will enhance our agility, preparedness and technological transformation,” FDIC Chair Jelena McWilliams said in a statement. It’s part of the agency’s strategy to “further reduce layers of management and acquire new skill sets,” she said.Sen. Sherrod Brown of Ohio, the senior Democrat on the Senate Banking Committee, questioned the approach of phasing out veteran employees and said it could hurt the FDIC’s ability to deal with another financial crisis. “If the FDIC chair were interested in increasing the agency’s capability to respond to a crisis, she would be focused on hiring and training a new generation of workers, not encouraging experienced and senior staff to rush to the exit,” Brown said. “Let’s be clear –- no matter how Chair McWilliams tries to spin it, reducing FDIC’s workforce will make us less prepared for a financial downturn.”During the 2008-09 financial crisis and the following years, the FDIC closed hundreds of failed U.S. banks and transferred their loans and deposits to other, healthy banks. Bank failures reached a peak of 157 in 2010. With the new plan, the FDIC is looking build up its staff engaged in inspecting banks, and in specialized information technology, computer science and data management. Officials declined to estimate what portion of the employees being offered early retirement is expected to take it. They include executive managers as well as administrative staff at FDIC headquarters in Washington and in the field. The union representing FDIC employees said it’s concerned about employees having enough time to adequately assess their options and make informed decisions. Employees who accept the offer must leave by June 6. Under terms of the offer, most of the employees who choose to leave or retire will receive six months of salary.The union, the National Treasury Employees Union, said it will negotiate with the agency on the office closures and consolidations to prevent involuntary relocations of employees to another FDIC office and allow them to continue to inspect banks in their areas.“We also intend to closely examine the FDIC’s justification for these decisions, and our union will raise concerns if we feel the moves are unwarranted or harmful to FDIC’s ability to accomplish its mission,” NTEU President Tony Reardon said in a statement.In addition to monitoring the banks’ condition, the FDIC was established during the Great Depression to insure deposits of banks that fail. It guarantees deposits up to 0,000 per account. 3411

The National Rifle Association is suing after the San Francisco Board of Supervisors labeled it a "domestic terrorist organization," according to the complaint.Last week, the board 193

The Centers for Disease Control (CDC) says depression affects nearly 8% of people at any time. The numbers of those who get treatment are far lower. For some, they don’t recognize the symptoms or they don’t want to take medication. Wendy Moreno is among those who struggle with depression. After a traumatic experience four year ago, she decided she needed professional help. She went to therapy and got on medication, but she didn’t feel it was working.“I was just at a point where I wanted to try something new,” said Moreno. Her therapist told her about 569

The Education Department failed to include funding for the Special Olympics in its budget proposal this year after it was rebuffed by the White House's budget office, a department official familiar with the process tells CNN.Department officials tried repeatedly to include the nearly million in funding while still coming in under the White House's budget cap, but officials at the Office of Management and Budget rejected each proposal, according to the official.Education Department staff were forced this week to watch Secretary of Education Betsy DeVos defend before Congress the unpopular proposed cuts that officials there had largely opposed, only to have the President roll back the cuts two days later. One staffer described the experience to others as the "week from hell."DeVos faced intense scrutiny on Capitol Hill Tuesday over her proposed budget to the Special Olympics, which provides sports programs for children and adults with intellectual disabilities. 990

The grand jury's criminal investigation started by special counsel investigators is "continuing robustly," a federal prosecutor said Wednesday, even though Robert Mueller filed his report on Russian interference in the 2016 election with the Justice Department last week.In a federal court hearing about whether the name of the company and country that's been fighting a subpoena from Mueller since last summer should be revealed, Chief Judge Beryl Howell asked prosecutor David Goodhand, point-blank, if the grand jury investigation is over."No, it's continuing. I can say it's continuing robustly," said Goodhand, an assistant prosecutor in the DC US attorney office.There were no prosecutors from Mueller's office in court. The special counsel's office has handed over the subpoena case to the DC US attorney's office. It remains unclear what part of Mueller's investigation is ongoing and if more criminal charges could still come.The continuing work, even after Mueller declared his investigation had concluded, further raises questions about what was being investigated with few clues so far about what country it is or the company, which the special counsel has previously said is not a target of the investigation but has information needed by prosecutors.Attorney General William Barr wrote in his letter to Congress that several matters had been referred by Mueller to other federal prosecutor offices.The hearing was held to discuss whether the name of the company and other details could be made public. The company does not want its identity revealed, its lawyers said in court.Howell did not make a decision Wednesday, but acknowledged that it would be harder under the law to reveal the company's identity if there continues to be an active investigation. 1782

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