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As Thomas Hoenig and Jeremiah Norton step into their new Federal Deposit Insurance Corp. roles on Monday, the dynamic for the agency's board could significantly shift.
April 13 -
The Federal Deposit Insurance Corp.'s two newest board members are expected to begin work at the agency on Monday, an agency spokesman said.
April 11 -
Thomas Curry, who was approved by the Senate last week, will lead the Office of the Comptroller of the Currency starting next Monday.
April 2 -
Why did the Senate confirm Martin Gruenberg as a board member of the FDIC but not the agency's chairman? We seek to answer this and other questions, including how it will impact banks and the agency itself.
March 30 -
The Senate finally confirmed Martin Gruenberg and three others to serve on the FDIC board, but — in an rare omission — did not confirm Gruenberg to serve as chairman of the agency. Thomas Curry, however, was confirmed as Comptroller of the Currency.
March 29
WASHINGTON — Thomas Hoenig and Jeremiah Norton were officially sworn in Monday as the two newest members of the Federal Deposit Insurance Corp. board of directors.
The two new directors bring the FDIC board to its full five-member capacity for the first time since July 2011, when former FDIC Chairman Sheila Bair left the agency. Hoenig comes to the agency after having stepped down last year as president of the Federal Reserve Bank of Kansas City. Norton had prior positions as an executive director at JPMorgan Securities, deputy assistant Treasury secretary for financial institutions policy and legislative assistant for Rep. Edward Royce, R-Calif.
"They both are accomplished individuals, and their perspectives and experience will be important additions to the board as the FDIC continues to respond to a number of challenging issues and continues with the rulemaking process," Martin Gruenberg, the FDIC's acting chairman, said in a press release.
Hoenig and Norton's appointments were recommended by senior GOP lawmakers under rules that bar a sitting administration from choosing more than three FDIC board members from the president's party.
However, even though senators confirmed them to sitting on the board last month, the agency's leadership designations are still unresolved, with Congress unlikely to act before the November elections. Gruenberg's nomination to become permanent chairman is still pending, as is Hoenig's nomination to be vice chairman.
The other two FDIC board seats are filled by Comptroller of the Currency Thomas Curry and Consumer Financial Protection Bureau Director Richard Cordray.
