Who Runs the FDIC?
Martin J. Gruenberg
Martin J. Gruenberg is the 20th Chairman of the FDIC, receiving Senate confirmation on November 15, 2012 for a five-year term. Mr. Gruenberg has served on the FDIC Board of Directors since August 22, 2005, including as Acting Chairman from July 9, 2011 to November 15, 2012, and also from November 16, 2005 to June 26, 2006.
Mr. Gruenberg joined the FDIC Board after broad congressional experience in the financial services and regulatory areas. He served as Senior Counsel to Senator Paul S. Sarbanes (D-MD) on the staff of the Senate Committee on Banking, Housing, and Urban Affairs from 1993 to 2005. Mr. Gruenberg advised the Senator on issues of domestic and international financial regulation, monetary policy and trade. He also served as Staff Director of the Banking Committee's Subcommittee on International Finance and Monetary Policy from 1987 to 1992. Major legislation in which Mr. Gruenberg played an active role during his service on the Committee includes the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA); the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA); the Gramm-Leach-Bliley Act; and the Sarbanes-Oxley Act of 2002.
Mr. Gruenberg served as Chairman of the Executive Council and President of the International Association of Deposit Insurers (IADI) from November 2007 to November 2012.
Mr. Gruenberg holds a J.D. from Case Western Reserve Law School and an A.B. from Princeton University, Woodrow Wilson School of Public and International Affairs.
Thomas M. Hoenig
Thomas M. Hoenig is the Vice Chairman of the FDIC, receiving confirmation from the Senate on November 15, 2012. He joined the agency on April 16, 2012, as a member of the FDIC Board of Directors for a six-year term.
Prior to serving on the FDIC Board, Mr. Hoenig was the President of the Federal Reserve Bank of Kansas City and a member of the Federal Reserve System's Federal Open Market Committee from 1991 to 2011.
Mr. Hoenig was with the Federal Reserve for 38 years, beginning as an economist and then as a senior officer in banking supervision during the U.S. banking crisis of the 1980s. In 1986, he led the Kansas City Federal Reserve Bank's Division of Bank Supervision and Structure, directing the oversight of more than 1,000 banks and bank holding companies with assets ranging from less than $100 million to $20 billion. He became President of the Kansas City Federal Reserve Bank on October 1, 1991.
Mr. Hoenig joined the Federal Reserve Bank in 1973. A native of Fort Madison, Iowa, Mr. Hoenig received a doctorate in economics from Iowa State University.
Jeremiah O. Norton
Jeremiah O. Norton was sworn in on April 16, 2012, as a member of the Board of Directors of the Federal Deposit Insurance Corporation for the remainder of a term expiring July 15, 2013.
Prior to joining the FDIC's board, Mr. Norton was an Executive Director at J.P. Morgan Securities LLC, in New York, NY.
Mr. Norton was in government for a number of years before joining the FDIC board, most recently as the Deputy Assistant Secretary for Financial Institutions Policy at the U.S. Treasury Department. Mr. Norton also was a Legislative Assistant and professional staff member for U.S. Representative Edward R. Royce.
Mr. Norton received a J.D. from the Georgetown University Law Center and an A.B. in economics from Duke University.
Thomas J. Curry
Thomas J. Curry was sworn in as the 30th Comptroller of the Currency on April 9, 2012.
Prior to becoming Comptroller of the Currency, Mr. Curry served as a Director of the FDIC since January 2004. At the FDIC, he served as Chairman of the FDIC's Assessment Appeals Committee and Case Review Committee, and Chairman of the NeighborWorks® America Board of Directors.
Before joining the FDIC's Board of Directors, Mr. Curry served five Massachusetts Governors as the Commonwealth's Commissioner of Banks from 1990 to 1991 and from 1995 to 2003. He served as Acting Commissioner from February 1994 to June 1995. He previously served as First Deputy Commissioner and Assistant General Counsel within the Massachusetts Division of Banks. He entered state government in 1982 as an attorney with the Massachusetts' Secretary of State's Office.
Mr. Curry served as the Chairman of the Conference of State Bank Supervisors from 2000 to 2001, and served two terms on the State Liaison Committee of the Federal Financial Institutions Examination Council, including a term as Committee chairman.
He is a graduate of Manhattan College (summa cum laude), where he was elected to Phi Beta Kappa. He received his law degree from the New England School of Law.
Richard Cordray was sworn in as the first Director of the Consumer Financial Protection Bureau on January 4, 2012.
Prior to becoming Director, he led the Bureau's Enforcement Division. Before joining the Bureau, Mr. Cordray served as Ohio's Attorney General. Mr. Cordray also served as Ohio Treasurer and Franklin County Treasurer. Earlier in his career, Mr. Cordray was an adjunct professor at the Ohio State University College of Law, served as a State Representative for the 33rd Ohio House District, was the first Solicitor General in Ohio's history, and was a sole practitioner and Of Counsel to Kirkland & Elliss.
Mr. Cordray has argued seven cases before the United States Supreme Court, including by special appointment of both the Clinton and Bush Justice Departments. He is a graduate of Michigan State University, Oxford University, and the University of Chicago Law School. Mr. Cordray was Editor-in-Chief of the University of Chicago Law Review and later clerked for U.S. Supreme Court Justices Byron White and Anthony Kennedy.