Federal Deposit Insurance Corporation

Pages:398-402
 
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FEDERAL DEPOSIT INSURANCE CORPORATION

550 Seventeenth Street NW., Washington, DC 20429

Phone, 202-736-6000. Internet, http://www.fdic.gov.

Board of Directors:

Chairman Martin J. Gruenberg, Acting

Vice Chairman Martin J. Gruenberg

Directors:

(Comptroller of the Currency) John C. Dugan

(Director, Office of Thrift John M. Reich

Supervision)

Appointive Director Thomas J. Curry

Officials:

Deputy to the Chairman and Chief Operating John F. Bovenzi

Officer

Deputy to the Chairman and Chief Financial Steven O. App

Officer

Deputy to the Vice Chairman Barbara A. Ryan, Acting

Deputy to the Director (Comptroller of the William A. Rowe III

Currency)

Deputy to the Director (Office of Thrift Claude A. Rollin

Supervision)

Special Assistant to the Director John F. Vogel

General Counsel Douglas H. Jones, Acting

Director, Division of Administration Arleas Upton Kea

Director, Division of Finance Frederick S. Selby

Director, Division of Information Technology and Michael E. Bartell

Chief Information Officer

Director, Division of Insurance and Research Arthur J. Murton

Director, Division of Resolutions and Mitchell L. Glassman

Receiverships

Director, Division of Supervision and Consumer Sandra L. Thompson, Protection Acting

Director, Office of Diversity and Economic D. Michael Collins

Opportunity

Director, Office of Enterprise Risk Management James H. Angel, Jr.

Director, Office of Legislative Affairs Alice C. Goodman

Ombudsman Cottrell L. Webster

Director, Office of Public Affairs D.J. Nordquist

Chief Learning Officer David C. Cooke

Inspector General Patricia M. Black, Acting

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The Federal Deposit Insurance Corporation promotes and preserves public confidence in U.S. financial institutions by insuring bank and thrift deposits up to the legal limit of $100,000; by periodically examining State-chartered banks that are not members of the Federal Reserve System for safety and soundness as well as compliance with consumer protection laws; and by liquidating assets of failed institutions to reimburse the insurance funds for the cost of failures.

The Federal Deposit Insurance Corporation (FDIC) was established under the Banking Act of 1933 in response to numerous bank failures during the Great Depression. FDIC began insuring banks on January 1, 1934. As of April 1, 2006, the deposit insurance coverage on certain retirement accounts at a bank or savings institution was raised to $250,000. The basic...

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