WASHINGTON -- President Bush renominated C.C. Hope to the board of the Federal Deposit Insurance Corp.
Mr. Hope, the only Democrat on the FDIC board, would serve through Feb. 28, 1993, the date that the thrift bailout law of 1989 designated as the end of all appointed members' terms. That will give the winner of this year's presidential election the opportunity to appoint a board majority.
The FDIC board has three appointed members as well as seats for the Comptroller of the Currency and the director of the Office of Thrift Supervision. No more than three members can represent the same political party.
Mr. Hope, a former vice chairman of First Union Corp., has been a FDIC director since 1986.