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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

2017 Annual Report

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B. More About the FDIC

FDIC Board of Directors

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 served as Vice Chairman and Member of the FDIC Board of Directors from August 22, 2005, until his confirmation as Chairman. He served 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 was confirmed by the Senate as Vice Chairman of the FDIC on November 15, 2012. He joined the FDIC on April 16, 2012, as a member of the Board of Directors of the FDIC 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 is a native of Fort Madison, Iowa, and received a doctorate in economics from Iowa State University.

Mick Mulvaney

Mick Mulvaney is Acting Director of the Consumer Financial Protection Bureau.

Mick Mulvaney is the current Director of the Office of Management and Budget and the Acting Director of the Consumer Financial Protection Bureau.

Prior to his appointments, he served the people of the 5th District of South Carolina as their Congressman where he was first elected in 2010, he is the first Republican member to hold the seat in 128 years.

A lifelong Carolinas resident, he attended Georgetown University, graduating with honors in International Economics, Commerce, and Finance. He completed his formal education at Harvard Business School’s OPM program in 2006. While in the private sector, he was a lawyer, a real estate developer, a home builder, and a restaurant franchiser and franchisee.

While in Congress, he served on the Budget Committee, Joint Economic Committee, Small Business Committee, Financial Services Committee, and the Oversight and Government Reform Committee.

He is a regular spokesperson for the Administration, having appeared on major network shows, including: Meet the Press, Face the Nation, This Week, and Fox News Sunday. He also makes regular appearances on cable television news, national radio, and online media.

Mick and Pam were married in 1998, and are the proud parents of triplets: James, Caroline, and Finnegan, and two great Danes: Guiness and Harper.

Joseph M. Otting

Joseph M. Otting was sworn in as the 31st Comptroller of the Currency on November 27, 2017.

The Comptroller of the Currency is the administrator of the federal banking system and chief officer of the Office of the Comptroller of the Currency (OCC). The OCC supervises nearly 1,400 national banks, federal savings associations, and federal branches and agencies of foreign banks operating in the United States. The mission of the OCC is to ensure that national banks and federal savings associations operate in a safe and sound manner, provide fair access to financial services, treat customers fairly, and comply with applicable laws and regulations.

The Comptroller also serves as a director of the Federal Deposit Insurance Corporation and member of the Financial Stability Oversight Council and the Federal Financial Institutions Examination Council.

Prior to becoming Comptroller of the Currency, Mr. Otting was an executive in the banking industry. He served as President of CIT Bank and Co-President of CIT Group from August 2015 to December 2015.

Mr. Otting previously was President, Chief Executive Officer, and a member of the Board of Directors of OneWest Bank, N.A. Prior to joining OneWest Bank, he served as Vice Chairman of U.S. Bancorp, where he managed the Commercial Banking Group and served on the Bancorp’s executive management committee. He also served as a member of U.S. Bank’s main subsidiary banks’ Board of Directors.

From 1994 to 2001, Mr. Otting was with Union Bank of California, where he was Executive Vice President and Group Head of Commercial Banking. Before joining Union Bank, he was with Bank of America and held positions in branch management, preferred banking, and commercial lending.

Mr. Otting has played significant roles in charitable and community development organizations. He has served as a board member for the California Chamber of Commerce, the Killebrew-Thompson Memorial foundation, the Associated Oregon Industries, the Oregon Business Council, the Portland Business Alliance, the Minnesota Chamber of Commerce, and Blue Cross Blue Shield of Oregon. He was also a member of the Financial Services Roundtable, the Los Angeles Chamber of Commerce, and the Board and Executive Committee of the Los Angeles Economic Development Corporation.

Mr. Otting holds a bachelor of arts in management from the University of Northern Iowa and is a graduate of the School of Credit and Financial Management, which was held at Dartmouth College in Hanover, New Hampshire.

Thomas J. Curry

Thomas J. Curry, former Comptroller of the Currency, resigned from the FDIC Board of Directors as of May 5, 2017. Mr. Curry served as a director of the FDIC beginning in 2004 and was the second-longest serving Board member in FDIC history.

Richard Cordray

Richard Cordray, former Director of the Consumer Financial Protection Bureau, resigned on November 24, 2017. Mr. Cordray served as the first Director of the Consumer Financial Protection Bureau.

FDIC Organization Chart/Officials

FDIC Organization Chart/Officials

Corporate Staffing
Staffing Trends 2008–2017

Corporate Staffing Staffing Trends 2008-2017
Note: 2008-2017 staffing totals reflect year-end full time equivalent staff.
NUMBER OF EMPLOYEES BY DIVISION/OFFICE 2016 – 2017 (YEAR-END)1
  Total Washington Regional
Division or Office: 2017 2016 2017 2016 2017 2016
Division of Risk Management Supervision 2,558 2,627 197 204 2,361 2,423
Division of Depositor and Consumer Protection 831 838 120 116 711 722
Division of Resolutions and Receiverships 457 537 134 138 323 399
Legal Division 506 531 326 340 180 191
Division of Administration 358 370 246 256 112 114
Division of Information Technology 276 301 219 237 57 64
Corporate University 217 210 211 202 6 8
Division of Insurance and Research 194 193 157 153 37 40
Division of Finance 166 167 162 164 4 3
Office of the Chief Information Security Officer2 36 34 36 34 0 0
Office of Inspector General 126 122 78 76 48 47
Office of Complex Financial Institutions 62 67 48 50 14 17
Executive Offices3 26 22 26 22 0 0
Executive Support Offices4 68 79 60 72 8 7
Total 5,880 6,096 2,019 2,062 3,861 4,034
1The FDIC reports staffing totals using a full-time equivalent methodology, which is based on an employee’s scheduled work hours. Division/Office staffing has been rounded to the nearest whole FTE. Totals may not foot due to rounding. 2Formerly known as the Information Security and Privacy Staff. 3Includes the Offices of the Chairman, Vice Chairman, Director (Appointive), Chief Operating Officer, Chief Financial Officer, and Chief Information Officer. 4Includes the Offices of Legislative Affairs, Communications, Ombudsman, Minority and Women Inclusion, and Corporate Risk Management (the functions of which were absorbed by the Division of Finance in 2017).

Sources of Information

FDIC Website www.fdic.gov

A wide range of banking, consumer, and financial information is available on the FDIC’s website. This includes the FDIC’s Electronic Deposit Insurance Estimator (EDIE), which estimates an individual’s deposit insurance coverage; the Institution Directory, which contains financial profiles of FDIC-insured institutions; Community Reinvestment Act evaluations and ratings for institutions supervised by the FDIC; Call Reports, which are bank reports of condition and income; and Money Smart, a training program to help individuals outside the financial mainstream enhance their money management skills and create positive banking relationships. Readers also can access a variety of consumer pamphlets, FDIC press releases, speeches, and other updates on the agency’s activities, as well as corporate databases and customized reports of FDIC and banking industry information.

FDIC Call Center

Phone:

Hearing Impaired:

The FDIC Call Center in Washington, DC, is the primary telephone point of contact for general questions from the banking community, the public, and FDIC employees. The Call Center directly, or with other FDIC subject matter experts, responds to questions about deposit insurance and other consumer issues and concerns, as well as questions about FDIC programs and activities. The Call Center also refers callers to other federal and state agencies as needed. Hours of operation are 8:00 a.m. to 8:00 p.m., Eastern Time, Monday – Friday, and 9:00 a.m. to 5:00 p.m., Saturday – Sunday. Recorded information about deposit insurance and other topics is available 24 hours a day at the same telephone number.

As a customer service, the FDIC Call Center has many bilingual Spanish agents on staff and has access to a translation service, which is able to assist with over 40 different languages.

Public Information Center

3501 Fairfax Drive
Room E-1021
Arlington, VA 22226

Phone:

Fax:

FDIC Online Catalog:

E-mail:

Publications such as FDIC Quarterly and Consumer News and a variety of deposit insurance and consumer pamphlets are available at www.fdic.gov or may be ordered in hard copy through the FDIC online catalog. Other information, press releases, speeches and congressional testimony, directives to financial institutions, policy manuals, and FDIC documents are available on request through the Public Information Center. Hours of operation are 9:00 a.m. to 4:00 p.m., Eastern Time, Monday – Friday.

Office of the Ombudsman

3501 Fairfax Drive
Room E-2022
Arlington, VA 22226

Phone:

Fax:

E-Mail:

The Office of the Ombudsman (OO) is an independent, neutral, and confidential resource and liaison for the banking industry and the general public. The OO responds to inquiries about the FDIC in a fair, impartial, and timely manner. It researches questions and fields complaints from bankers and bank customers. OO representatives are present at all bank closings to provide accurate information to bank customers, the media, bank employees, and the general public. The OO also recommends ways to improve FDIC operations, regulations, and customer service.

Regional and Area Offices

Atlanta Regional Office

Michael J. Dean, Regional Director
10 Tenth Street, NE
Suite 800
Atlanta, Georgia  30309
(678) 916-2200

Chicago Regional Office

John P. Conneely, Regional Director
300 South Riverside Plaza
Suite 1700
Chicago, Illinois  60606
(312) 382-6000

Dallas Regional Office

Kristie K. Elmquist, Regional Director
1601 Bryan Street
Dallas, Texas  75201
(214) 754-0098

Memphis Area Office

Kristie K. Elmquist, Director
6060 Primacy Parkway
Suite 300
Memphis, Tennessee  38119
(901) 685-1603

Kansas City Regional Office

James D. LaPierre, Regional Director
1100 Walnut Street
Suite 2100
Kansas City, Missouri  64106
(816) 234-8000

New York Regional Office

John F. Vogel, Regional Director
350 Fifth Avenue
Suite 1200
New York, New York 10118
(917) 320-2500

Boston Area Office

John F. Vogel, Director
15 Braintree Hill Office Park
Suite 100
Braintree, Massachusetts  02184
(781) 794-5500

San Francisco Regional Office

Kathy L. Moe, Regional Director
25 Jessie Street at Ecker Square
Suite 2300
San Francisco, California 94105
(415) 546-0160

 

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