Federal Deposit Insurance Corporation FDIC
The Federal Deposit Insurance Corporation (FDIC) preserves and promotes public confidence in the U.S. financial system by insuring deposits in banks and thrift institutions for at least $100,000; by identifying, monitoring and addressing risks to the deposit insurance funds; and by limiting the effect on the economy and the financial system when a bank or thrift institution fails.
An independent agency of the federal government, the FDIC was created in 1933 in response to the thousands of bank failures that occurred in the 1920s and early 1930s. Since the start of FDIC insurance on January 1, 1934, no depositor has lost a single cent of insured funds as a result of a failure.
The FDIC receives no Congressional appropriations – it is funded by premiums that banks and thrift institutions pay for deposit insurance coverage and from earnings on investments in U.S. Treasury securities. With an insurance fund totaling more than $49 billion, the FDIC insures more than $3 trillion of deposits in U.S. banks and thrifts – deposits in virtually every bank and thrift in the country.
Savings, checking and other deposit accounts, when combined, are generally insured to $100,000 per depositor in each bank or thrift the FDIC insures. Deposits held in different categories of ownership – such as single or joint accounts – may be separately insured. Also, the FDIC generally provides separate coverage for retirement accounts, such as individual retirement accounts (IRAs) and Keoghs, insured up to $250,000. The FDIC's Electronic Deposit Insurance Estimator can help you determine if you have adequate deposit insurance for your accounts.
The FDIC insures deposits only. It does not insure securities, mutual funds or similar types of investments that banks and thrift institutions may offer. (Insured and Uninsured Investments distinguishes between what is and is not protected by FDIC insurance.)
The FDIC directly examines and supervises about 5,250 banks and savings banks, more than half of the institutions in the banking system. Banks can be chartered by the states or by the federal government. Banks chartered by states also have the choice of whether to join the Federal Reserve System. The FDIC is the primary federal regulator of banks that are chartered by the states that do not join the Federal Reserve System. In addition, the FDIC is the back-up supervisor for the remaining insured banks and thrift institutions.
To protect insured depositors, the FDIC responds immediately when a bank or thrift institution fails. Institutions generally are closed by their chartering authority – the state regulator, the Office of the Comptroller of the Currency, or the Office of Thrift Supervision. The FDIC has several options for resolving institution failures, but the one most used is to sell deposits and loans of the failed institution to another institution. Customers of the failed institution automatically become customers of the assuming institution. Most of the time, the transition is seamless from the customer's point of view.
The FDIC employs about 4,500 people. It is headquartered in Washington, D.C., but conducts much of its business in six regional offices and in field offices around the country.
The FDIC is managed by a five-person Board of Directors, all of whom are appointed by the President and confirmed by the Senate, with no more than three being from the same political party.
Chairman |
Sheila C. Bair
(202) 898-6974 |
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| Senior Advisor to the Chairman for Consumer Protection (Detail) | Robert W. Mooney | (202) 898-3911 | ||
| Executive Assistant to the Chairman (Detail) | Beverly G. McGee | (202) 898-6956 | ||
Chief of Staff |
Jesse O. Villarreal, Jr. | (202) 898-3935 | ||
| Secretary | Benita Swann | (202) 898-3858 | ||
Michael E. Bartell |
(703) 516-5781 |
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Vice Chairman |
Martin J. Gruenberg |
(202) 898-3888 |
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Administrative Assistant to the Vice Chairman |
Lorraine Dennison | (202) 898-3885 | ||
Deputy to the Vice Chairman |
Barbara A. Ryan | (202) 898-3841 |
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Special Assistant to the Deputy to the Vice Chairman |
Yazmin E. Osaki | (202) 898-6553 |
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Director |
Thomas J. Curry | (202) 898-3957 | ||
Administrative Assistant to the Director |
Tina Queen | (202) 898-3934 | ||
Deputy to the Director |
Lisa K. Roy |
(202) 898-3764 |
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Director (Director, Comptroller of the Currency) |
John C. Dugan |
(202) 874-4900 |
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Staff Assistant |
Ann Taylor |
(202) 874-4900 |
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Deputy to the Director |
William A. Rowe, III |
(202) 898-6960 |
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Director (Director, Office of Thrift Supervision) |
John M. Reich |
(202) 906-6590 |
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Secretary |
Rebecca B. Weyant |
(202) 906-6620 |
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Deputy to the Director |
Claude A. Rollin | (202) 898-8741 | ||
| Deputy to the Chairman and Chief Operating Officer | ||||
Deputy to the Chairman and Chief Operating Officer |
John F. Bovenzi |
(202) 898-6949 |
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Executive Assistant to the Deputy to the Chairman and Chief Operating Officer / Administrative Officer for the Executive Offices |
Beverly G. McGee |
(202) 898-6956 |
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Special Advisor to the Chief Operating Officer |
James D. Collins |
(202) 898-7010 |
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Special Assistant to the Chief Operating Officer |
Deanna Caldwell |
(202) 898-6610 |
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| EGRPRA, Project Manager | Claude A. Rollin | (202) 898-8741 | ||
Deputy to the Chairman and Chief Financial Officer |
Steven O. App |
(202) 898-8732 |
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| Secretary | Paula Gueory | (202) 898-3661 | ||
| Senior Advisor to the Chief Financial Officer | Vacant | |||
| Special Assistant to the Chief Financial Officer | Joseph Colantuoni | (202) 898-8965 | ||
| Deputy to the Chairman | ||||
Deputy to the Chairman |
Alice C. Goodman | (202) 898-8730 | ||
Secretary |
Benita Swann | (202) 898-3858 | ||
Special Advisor to the Deputy to the Chairman |
Michael H. Krimminger | (202) 898-8950 | ||
Director |
Sandra L. Thompson | (202) 898-3696 |
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| Special Assistant to the Director | Larry N. Paul | (202) 898-3970 | ||
Secretary |
Zolita L. Brown |
(202) 898-6880 |
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| Internal Control and Review Section, Chief | Lynn B. Dallin | (202) 898-3755 | ||
Complex Financial Institutions |
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Deputy Director |
John M. Lane |
(202) 898-6771 |
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Large Institutions and Analysis Branch, Associate Director |
John H. Corston | (202) 898-6548 |
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| Examination Support and Risk Analysis Section I, Chief | William R. Baxter | (202) 898-8514 | ||
| Examination Support and Risk Analysis Section II, Chief | Peter D. Hirsch | (202) 898-6751 | ||
Consumer Protection and Community Affairs |
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Deputy Director |
Vacant | |||
Community Affairs Branch, Associate Director |
Robert Mooney | (202) 898-3911 | ||
| Outreach and Program Development Section, Chief | Vacant | |||
| Community Affairs Section, Chief | Lee T. Bowman | (202) 898-3753 | ||
| Consumer Protection Branch, Associate Director | Vacant | |||
Consumer Affairs Section, Chief |
Susan Potkai Boenau |
(202) 898-6601 |
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Deposit Insurance Section, Chief |
Kathy G. Nagle |
(202) 898-6541 |
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Consumer Response Center Section, Chief |
Janet R. Kincaid | (816) 234-8153 | ||
| * Physically located in the Kansas City Regional Office at 2345 Grand Blvd., Suite 1200, Kansas City, MO 64108 | ||||
Policy |
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Deputy Director |
George E. French | (202) 898-3929 |
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| Emerging Issues Section, Chief | John D. Weier | (202) 898-3542 | ||
Risk Management Policy Branch, Associate Director |
Steven D. Fritts | (202) 898-3723 | ||
Accounting and Securities Disclosure Section, Chief Accountant |
Robert F. Storch |
(202) 898-8906 |
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Policy and Program Development Section, Chief |
Melinda West | (202) 898-7221 | ||
Capital Markets Branch, Associate Director |
Jason C. Cave | (202) 898-3548 | ||
| Policy Section, Chief | Bobby R. Bean | (202) 898-3575 | ||
| Examination Support Section, Chief | Marc Steckel | (202) 898-3618 | ||
| Compliance Policy Branch, Associate Director | Vacant | |||
| Compliance Policy Section, Chief | April A. Breslaw | (202) 898-6609 | ||
Strategic Planning and Resource Management |
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| Deputy Director | William A. Stark | (202) 898-6972 | ||
| Strategic Planning, Budget and Reporting Branch, Associate Director | Betty J. Rudolph | (202) 898-8938 | ||
| Business Analysis and Decision Support Section, Chief | Gary W. Bowser | (202) 898-3788 | ||
Administrative Management Section, Chief |
June K. DeRousse |
(202) 898-7450 | ||
Financial Management and Reporting Section, Chief |
Wayne M. Evans |
(202) 898-3986 |
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Technology Supervision Branch, Associate Director |
Michael L. Jackson |
(202) 898-6748 |
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Information Technology Section, Chief |
Benjamin E. Vaughn | (202) 898-3687 | ||
Applied Technology Section, Chief |
Jaime J. Perez | (202) 898-6653 | ||
Cyber Fraud and Financial Crimes Section, Chief |
Michael D. Benardo |
(202) 898-7319 |
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Supervisory Examinations |
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| Senior Deputy Director | Christopher J. Spoth | (202) 898-3896 | ||
| Anti-Money Laundering and Risk Analysis Branch, Associate Director | Lisa Arquette | (202) 898-8633 | ||
| Anti-Money Laundering Section, Chief | Debra L. Novak | (202) 898-6641 | ||
| Risk Analysis Section, Chief | Charles W. Collier | (202) 898-6582 | ||
| Risk Management Examinations Branch, Associate Director | Serena Owens | (202) 898-8996 | ||
| Risk Management and Applications Section I, Chief | Patricia A. Colohan | (202) 898-7283 | ||
| Risk Management and Applications Section II, Chief | Franklin Gray, III | (202) 898-3508 | ||
| Risk Management and Applications Section III, Chief | Donnald R. Hamm | (202) 898-3528 | ||
| Compliance Examinations Branch, Associate Director | Vacant | |||
Director |
Mitchell L. Glassman |
(202) 898-6525 |
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Secretary |
Linda S. Carey |
(202) 898-7129 | ||
| Special Assistant | Martha C. Duncan | (202) 898-3974 | ||
Analysis and Reporting Section, Assistant Director |
Thomas J. O'Keefe |
(703) 516-5037 |
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Internal Review Section, Manager |
Steven K. Trout |
(202) 898-3758 |
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Administration Section, Manager |
James W. Seegers |
(202) 898-6640 |
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Franchise and Asset Marketing Branch |
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| Deputy Director | James Wigand | (202) 898-6714 | ||
Marketing Section, Assistant Director |
Herbert J. Held |
(202) 898-7329 |
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| Capital Markets and Resolutions (A), Manager | Ralph A. Malami | (202) 898-3713 | ||
| Capital Markets and Resolutions (B), Manager | George C. Alexander | (202) 898-3718 | ||
Risk Analysis Section, Manager |
Carlos M. Fiol | (202) 898-6898 |
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Receivership Operations Branch |
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| Deputy Director | Gail Patelunas | (202) 898-6779 | ||
| Project Manager | James Marino | (202) 898-7151 | ||
| Closings and Deposit Claims Unit, Manager | Michael Spaid | (202) 898-6540 | ||
| Business Project Management Unit, Manager | Penelope Moreland-Gunn | (202) 898-3601 |
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Director |
Arthur J. Murton |
(202) 898-3938 |
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| Special Advisor to the Director | Rae-Ann Miller | (202) 898-3898 | ||
Secretary |
Carolyn McMickle |
(202) 898-3922 |
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Planning and Resource Management Branch, Assistant Director |
Andrea Woolford |
(202) 898-6633 |
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| Administrative Program Management Section, Chief | Krista Hughes | (202) 898-3928 |
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| Strategic Planning & Internal Control Section, Chief | Vacant | |||
| Publications & IT Operations Section, Chief | Vacant | |||
Financial Risk Management and Research |
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Financial Risk Management and Research, Deputy Director (Acting) |
Donald Inscoe | (202) 898-3940 |
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| Secretary | Iris N. Savoy | (202) 898-7146 | ||
Financial Risk Management Branch, Associate Director |
Diane Ellis | (202) 898-8978 |
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| Large Bank Pricing Section, Chief | Vacant | |||
Fund Analysis and Pricing Section, Chief |
Matthew Green |
(202) 898-3670 |
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| Banking & Regulatory Policy Section, Chief | Vacant | |||
| Consumer Finance Research Section, Chief | Vacant | |||
Center for Financial Research Branch, Associate Director |
Paul Kupiec | (202) 898-6768 | ||
| Banking Research Section, Chief | Vacant | |||
| Special Studies Section, Chief | Jack Reidhill | (202) 898-7371 | ||
| Quantitative Risk Analysis Section, Chief | Vacant | |||
Risk Analysis and Banking Statistics |
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| Risk Analysis and Banking Statistics, Deputy Director | Maureen E. Sweeney | (202) 898-8746 | ||
| Secretary | Iris N. Savoy | (202) 898-7146 | ||
Statistics Branch, Associate Director (Acting) |
Martin Henning | (202) 898-7346 |
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| Data Collection and Analysis Section, Chief | Edward Christovich | (202) 898-8931 | ||
| Data Applications Section, Chief | Robert Grohal | (202) 898-6939 | ||
Data Management Section, Chief |
Pat Relich |
(202) 898-6599 | ||
| Data Strategy Section, Chief | Vacant | |||
Risk Analysis Branch, Associate Director |
Christopher J. Newbury |
(202) 898-3504 |
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Economic Analysis Section, Chief |
Vacant | |||
| Financial Analysis Section, Chief | Vacant | |||
Regional Operations Branch, Associate Director/Chief Economist |
Richard A. Brown |
(202) 898-3927 |
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| Regional Analysis I, Assistant Director | Vacant | |||
| Regional Analysis II, Assistant Director | Vacant | |||
| Legal Division | ||||
General Counsel |
Sara A. Kelsey | (202) 898-3645 |
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Secretary |
Vacant | |||
Special Assistant |
Carol L. Middlebrook | (202) 898-6647 | ||
| Consumer & Legislation Branch | ||||
Deputy General Counsel |
Roberta K. McInerney | (202) 898-3830 |
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| Assessments and Legislation Section, Senior Counsel | Kymberly K. Copa | (202) 898-8832 |
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| Consumer/Compliance Section, Senior Counsel | Ruth R. Amberg | (202) 898-3736 |
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| Corporate Operations Branch | ||||
Deputy General Counsel |
Erica F. Bovenzi | (202) 898-8530 |
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Secretary |
Willa Allen | (202) 898-6551 |
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Corporate and Legal Operations Section, Assistant General Counsel |
Henry R. F. Griffin |
(202) 898-8700 |
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Secretary |
Vacant | |||
Opinions Unit, Senior Counsel |
Alan J. Kaplan |
(202) 898-3734 |
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FOIA and Privacy Act Group, Supervisory Counsel |
Frederick L. Fisch |
(202) 898-6901 |
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Legal Information Technology Unit, Senior Counsel |
James M. Barker | (703) 562-2359 |
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| Archiving and Indexing Group, Supervisor | Stephen C. Parker | (703) 562-2341 | ||
Contracting and Internal Review Unit, Senior Counsel |
Stephen M. Hanas |
(703) 562-2329 |
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| Research Bank and Records Group, Supervisor | Terry J. Hopkins | (703) 562-2348 | ||
| Internal Review Group, Senior Counsel | Stephen M. Hanas |
(703) 562-2329 |
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| Legal Services Group, Senior Counsel | Stephen M. Hanas |
(703) 562-2329 |
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Executive Secretary Section, Associate General Counsel/Executive Secretary |
Robert Feldman |
(202) 898-3811 |
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Ethics Unit, Ethics Program Manager |
Robert J. Fagan |
(202) 898-6808 |
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Operations Unit, Supervisory Counsel |
Valerie Best |
(202) 898-3812 |
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Labor, Employment and Administration Section, Assistant General Counsel |
James R. Lawrence |
(703) 562-2316 |
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| Labor and Employment Field Unit, Senior Counsel (HQS) | Christine M. Svevar | (703) 562-2314 | ||
Employment Unit, Senior Counsel |
David G. Eisenstein |
(703) 562-2312 |
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Labor Unit, Senior Counsel |
Saul Y. Schwartz |
(703) 562-2305 | ||
Administration Unit, Manager |
G. Penny Elgas |
(703) 562-2618 |
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| Budget and Reporting Group, Supervisor | William C. Strickler | (703) 562-2619 | ||
| Management Group, Supervisor | Catherine M. Spencer | (703) 562-2620 | ||
Litigation Branch |
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Deputy General Counsel (Acting) |
Richard Osterman, Jr. | (202) 898-3706 |
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Secretary (Acting Secretary for AGC Litigation Section) |
Debra Hendricks |
(202) 898-3602 |
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Receivership Section, Associate General Counsel |
Richard T. Aboussie |
(703) 562-2452 |
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Secretary |
Alice S. Gray |
(703) 562-2454 | ||
Professional Liability and Financial Crimes Unit, |
Floyd Robinson |
(703) 562-2451 | ||
| Professional Liability Group, Supervisory Counsel (Acting) | Floyd Robinson | (703) 562-2451 | ||
Financial Crimes Group, Supervisory Counsel |
John A. Davidovich | (703) 562-2439 | ||
| Receivership Policy Unit, Senior Counsel | David Wall | (703) 562-2440 | ||
Special Issues Unit, Senior Counsel |
David Gearin |
(703) 562-2430 | ||
| General Litigation Section, Assistant General Counsel (Acting) | Colleen J. Boles | (703) 562-2374 | ||
| Secretary (Acting) | Debra Hendricks | (703) 562-2692 | ||
Appellate Litigation Unit, Senior Counsel |
Colleen J. Boles |
(703) 562-2374 | ||
Commercial Litigation Unit, Senior Counsel |
Claire McGuire | (703) 562-2387 | ||
Corporate Litigation Unit, Senior Counsel |
Charles L. Cope |
(703) 562-2370 | ||
| Supervision Branch | ||||
Deputy General Counsel * |
John V. Thomas | (202) 898-7417 |
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Secretary |
Towanna Chapman |
(202) 898-3703 |
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| Enforcement Section, Senior Counsel | A. T. Dill | (202) 898-3721 | ||
| Unit I, Supervisory Counsel | Thomas J. Feeney | (202) 898-3690 | ||
Unit II, Supervisory Counsel |
Andrea Winkler | (202) 898-3727 |
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Bank Activities Section, Senior Counsel |
Marilyn E. Anderson |
(202) 898-3522 |
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Open Bank Regional Affairs Section, Assistant General Counsel |
James T. Lantelme |
(202) 898-6615 |
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| * Goodwill Offensive Team supervised by Deputy General Counsel | ||||
Director |
Bret D. Edwards |
(703) 562-6101 |
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| Special Assistant to the Director | John Zacepilo | (703) 562-6266 | ||
Secretary |
Bettina Carpenter | (703) 562-6199 |
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Treasurer |
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Deputy Director |
Steve W. Black |
(703) 562-2777 | ||
Treasury Management Section, Manager |
Louis E. Wright |
(703) 562-6180 | ||
Treasury Operations Unit, Manager |
John E. Johnson |
(703) 562-6179 | ||
| Funding and Investments Unit, Team Leader | David R. Wiley | (703) 562-6178 | ||
Assessments Section, Manager |
William V. Farrell |
(703) 562-6168 | ||
Assessment Operations Unit, Team Leader |
Jeffrey L. Owens |
(703) 562-6163 | ||
| Assessment Management Unit, Team Leader | Donna Saulnier | (703) 562-6167 | ||
| Deposit Compliance Analysis Section, Manager | David Wisnewski | (972) 761-8683 | ||
Controller |
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Interim Deputy Director |
Craig R. Jarvill | (703) 562-6250 | ||
Secretary |
Bettina Carpenter | (703) 562-6199 |
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Financial Reporting and Analysis Section, Manager |
Samuel E. Forkkio |
(703) 562-6197 |
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| Financial Reporting Unit, Manager | Paul A. Covas | (703) 562-6198 | ||
Receipts, Disbursements, and Travel Operations Section, Manager |
Robert C. Waldron |
(703) 562-6247 | ||
| Disbursement Operations Unit, Manager | Brett A. Reeves | (703) 562-6248 | ||
| Receipts, Receivables & Vendor Maintenance Unit, Manager | DaMita R. Hameen | (703) 562-6246 | ||
| Travel Services Unit, Manager | Rick Cywinski | (703) 562-6249 | ||
Accounting Operations Section, Manager |
Craig R. Jarvill |
(703) 562-6250 | ||
| General Ledger Operations & Control Unit, Manager | Alvin L. Shelton | (703) 562-6216 | ||
Subsidiary Accounting & Resolution Support Unit, Manager |
Craig Sweeney |
(703) 562-6209 | ||