The Federal Deposit Insurance Corporation (FDIC) is one of two agencies that provide deposit insurance to depositors in U.S. depository institutions, the other being the National Credit Union Administration, which regulates and insures credit unions. The FDIC is a United States government corporation providing deposit insurance to depositors in U.S. commercial banks and savings banks. The FDIC was created by the 1933 Banking Act, enacted during the Great Depression to restore trust in the American banking system. More than one-third of banks failed in the years before the FDIC's creation, and bank runs were common. The insurance limit was initially US$2,500 per ownership category, and this was increased several times over the years. Since the passage of the Dodd–Frank Wall Street Reform and Consumer Protection Act in 2011, the FDIC insures deposits in member banks up to US$250,000 per ownership category.
Donald Louis Evans is an American businessman. He was the 34th U.S. Secretary of Commerce. He was appointed by his longtime friend George W. Bush and sworn into office on January 20, 2001. On November 9, 2004, the White House announced that Evans intended to resign by the end of January 2005.
The Chair of the Board of Governors of the Federal Reserve System is the head of the Federal Reserve, which is the central banking system of the United States. The position is known colloquially as "Chair of the Fed" or "Fed Chair". The chair is the "active executive officer" of the Board of Governors of the Federal Reserve System. The chair reports to the United States Congress twice a year on progress towards the Fed's responsibilities and monetary policy objectives, which are "maximum employment, stable prices, and moderate long-term interest rates."
George William Miller served as the 65th United States Secretary of the Treasury under President Carter from August 6, 1979 to January 20, 1981. He previously served as the 11th Chairman of the Federal Reserve, where he began service on March 8, 1978.
Roger W. Ferguson Jr. is an American economist, who was Vice Chairman of the Board of Governors of the Federal Reserve System from 1999 to 2006, and has served as President and Chief Executive Officer of the Teachers Insurance and Annuity Association – College Retirement Equities Fund (TIAA) since April, 2008. In June, 2016, Alphabet Inc. appointed Roger W. Ferguson Jr. to its board of directors.
Eduardo Aguirre Reyes, Jr., is an American diplomat, with Atlantic Partners, an international consulting firm based in Houston.
Charles Taylor Manatt was a U.S. Democratic Party political figure. He was an American lawyer, politician and businessman.
Diana Lancaster Taylor is the former New York State superintendent of banks. She has been in a relationship with businessman and former New York City mayor Michael Bloomberg since 2000.
Melvin Floyd Sembler is former United States Ambassador to Italy (2001–2005), and former Ambassador to Australia and Nauru (1989–1993). He has also served as Chairman of the Board of the Sembler Company, which develops and manages shopping centers, and co-founder of Straight, Inc., a controversial drug-treatment center. Sembler is the chairman of the Scooter Libby Legal Defense Trust, and was a co-chair of the Florida Finance Committee for Mitt Romney.
Lewis William Seidman was an American economist, financial commentator, and former head of the U.S. Federal Deposit Insurance Corporation, best known for his role in helping work to correct the Savings and Loan Crisis in the American financial sector from 1988-1991 as head of the Resolution Trust Corporation. He also worked as an economic adviser during three separate Administrations of United States Presidents: Gerald Ford; Ronald Reagan; and George H.W. Bush. He was lauded by both Republicans and Democrats for his work in cleaning up the frauds of the Savings and Loan disaster, but was pushed out of American government by the George H.W. Bush Administration for disclosing the full extent of the crisis to the United States Congress and taxpayers.
Sheila Colleen Bair was the 19th Chair of the U.S. Federal Deposit Insurance Corporation (FDIC), during which time she assumed a prominent role in the government's response to the 2008 financial crisis. She was appointed to the post for a five-year term on June 26, 2006 by George W. Bush through July 8, 2011. She was also the 28th president of Washington College in Chestertown, MD, the first female head of the college in its 234 year history, a position she held from 2015 until her resignation in 2017.
Thomas Michael Hoenig was vice chairman of the Federal Deposit Insurance Corporation. He became a director on April 16, 2012, and served as vice chairman from November 30, 2012 to April 30, 2018. From 1991 to 2011, he served as the eighth chief executive of the Tenth District Federal Reserve Bank, in Kansas City, United States. In 2010, he was serving as a voting member of the Federal Open Market Committee, as one of five of the twelve Federal Reserve Bank presidents that sit on the Committee on a yearly rotating basis. He is known as an "anti-inflation hawk".
Gregory Q. Brown is an American businessman. He has been chairman and chief executive officer of Motorola Solutions since 2008.
John M. Reich was a Director of the Federal Deposit Insurance Corporation (FDIC). He was sworn in on January 15, 2001, following an appointment by President of the United States Bill Clinton and served on the FDIC Board for eight years. Reich served as Vice Chairman of the Board of the FDIC from November 2002 until he was nominated on June 7, 2005 by President George W. Bush to be Director of the Office of Thrift Supervision (OTS), and the U.S. Senate confirmed his nomination on July 29, 2005. He also served as Acting Chairman of the FDIC from July to August 2001. As Deputy Chairman, 2001–2005, Reich served as the Chair of FDIC's Audit Committee during a time when the General Accounting Office issued reportable conditions regarding information security at the Corporation.
Elizabeth “Betsy” Ashburn Duke is an American bank executive, most notable for being a member of the Board of Governors of the Federal Reserve System of the United States from 2008 through 2013. She was confirmed by the Senate June 27, 2008 to fill an unexpired term ending January 31, 2012. She was the seventh woman to be appointed to the board. In July 2013 she announced her resignation from the board.
Guaranty Bank was a major bank based in Austin, which collapsed in 2009. It was formed in 1988 as part of Temple-Inland and in 2007 became a standalone company. At the time of its collapse, Guaranty was the second largest bank in Texas, with 162 branches across Texas and California, and had $13 billion in assets and held $12 billion in deposits. Major shareholders included billionaire investor Carl Icahn and hotel tycoon Robert Rowling, who jointly invested $600 million in the bank in 2008.
William M. "Bill" Isaac was the Chairman of the Federal Deposit Insurance Corporation (FDIC) from August 3, 1981 through October 21, 1985. He founded the regulatory consulting firm The Secura Group LLC which is now a part of FTI Consulting, Inc., a global consulting firm. Isaac sits on a number of corporate boards and speaks and writes regularly on financial and regulatory issues.
The Structure of the Federal Reserve System is unique among central banks, with both public and private aspects. It is described as "independent within the government" rather than "independent of government".
Jodey Cook Arrington is the U.S. Representative for Texas's 19th congressional district. The district includes a large slice of West Texas, centered around Lubbock and Abilene. He is a member of the Republican Party.
Jelena McWilliams is Chairman of the Federal Deposit Insurance Corporation. She was nominated to the position and to the FDIC Board of Directors by President Donald J. Trump, and the Senate confirmed her appointment on May 24, 2018. She was sworn in as Chairman on June 5, 2018. Previously, McWilliams was executive vice president and chief legal officer of Fifth Third Bank in Cincinnati, Ohio.
