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1998 Annual Report
Board of Directors
Ms. Tanoue is the 17th Chairman of the Federal Deposit Insurance Corporation. Appointed Chairman by President William Clinton, she took office on May 26, 1998. Prior to her appointment, she was a partner in the Hawaii law firm of Goodsill Anderson Quinn & Stifel, where she specialized in banking, real estate finance and governmental affairs.
From 1983 to 1987, Ms. Tanoue was Commissioner of Financial Institutions for the State of Hawaii. As Commissioner, her responsibilities included the enforcement of state laws governing banks, savings and loan associations, trust companies, industrial loan companies and credit unions. She is noted for having provided the stewardship for the smooth conversion of industrial loan companies from private insurance coverage to FDIC membership after an unprecedented series of loan company failures shook the financial community.
Ms. Tanoue served as Special Deputy Attorney General to the Department of Commerce and Consumer Affairs for the State of Hawaii from 1981 to 1983, upon her return from the Georgetown University Law Center, where she received her Juris Doctor degree in 1981.
In 1995, Ms. Tanoue was appointed to serve as a member of the Board of Regents of the University of Hawaii, where she had received her undergraduate degree in 1977. She was elected Vice Chair of the Board of Regents in June 1997, serving until March 1998.
Ms. Tanoue held positions as an officer, director, or trustee for the following community organizations: the Aloha United Way, Palama Settlement, High Technology Development Corporation, Maximum Legal Services Corporation, Legal Aid Society of Hawaii, and Historic Hawaii Foundation. She also served as a community advisory board member for Time-Warner Communications of Hawaii, L.P., and Oceanic Cablevision.
Mr. Hove was appointed to his second term as Vice Chairman of the FDIC in 1994. His first term as Vice Chairman began in 1990. Since 1991, Mr. Hove has served as Acting Chairman of the FDIC three times, most recently from June 1, 1997, when Chairman Ricki Helfer resigned, to May 26, 1998, when Donna Tanoue was sworn in as the 17th Chairman. Before joining the FDIC, Mr. Hove was Chairman and Chief Executive Officer of the Minden Exchange Bank & Trust Company, Minden, Nebraska, where he served in every department during his 30 years with the bank.
Also involved in local government, Mr. Hove was Mayor of Minden from 1974 until 1982 and was Mindens Treasurer from 1962 until 1974.
Other civic activities included serving as President of the Minden Chamber of Commerce, President of the South Platte United Chambers of Commerce and positions associated with the University of Nebraska. Mr. Hove also was active in the Nebraska Bankers Association and the American Bankers Association.
Mr. Hove earned his B.S. degree at the University of Nebraska-Lincoln. He also is a graduate of the University of Wisconsin-Madison Graduate School of Banking. After serving as a U.S. naval officer and naval aviator from 1956 to 1960, Mr. Hove was in the Nebraska National Guard until 1963.
Ms. Seidman became Director of the Office of Thrift Supervision (OTS) on October 28, 1997. As OTS Director, Ms. Seidman is also an FDIC Board member.
Ms. Seidman joined the OTS from the White House, where from 1993 to 1997 she was Special Assistant to President Clinton for economic policy at the White House National Economic Council. She chaired the interagency working group on pensions and dealt with such issues as financial institutions, natural disaster insurance, bankruptcy and home ownership.
From 1987 to 1993, Ms. Seidman served in various positions at Fannie Mae, ending her career there as Senior Vice President for Regulation, Research and Economics. Other prior positions include Special Assistant to the Treasury Undersecretary for Finance from 1986 to 1987, and Deputy Assistant General Counsel at the Department of Transportation from 1979 to 1981. Ms. Seidman also practiced law for three years beginning in 1975 with Caplin & Drysdale, a Washington, DC, law firm specializing in tax, securities and bankruptcy issues.
Ms. Seidman received an A.B. degree in government from Radcliffe College, an M.B.A. from George Washington University and a J.D. from Georgetown University Law Center.
Mr. Hawke was sworn in as the 28th Comptroller of the Currency on December 8, 1998. As Comptroller, Mr. Hawke serves as an FDIC Board member.
Before his appointment as Comptroller, Mr. Hawke served for three-and-a-half years as Under Secretary of the Treasury for Domestic Finance. He oversaw the development of policy and legislation in the areas of financial institutions, debt management and capital markets.
Prior to joining the Treasury Department, Mr. Hawke was a senior partner at the Washington, DC, law firm of Arnold & Porter, which he first joined as an associate in 1962. At Arnold & Porter, he headed the financial institutions practice and, from 1987 to 1995, served as Chairman of the firm. In 1975, he left the firm to serve as General Counsel to the Board of Governors of the Federal Reserve System, but then returned in 1978.
From 1970 to 1987, Mr. Hawke taught courses on federal regulation of banking at the Georgetown University Law Center. He has also taught courses on bank acquisitions and financial regulation at the Morin Center for Banking Law Studies in Boston, where he continues to serve as Chairman of the Board of Advisors.
Mr. Hawke has written extensively on matters relating to the regulation of financial institutions, including the book Commentaries on Banking Regulation published in 1985. He received a B.A. in English from Yale University and is a graduate of the Columbia University School of Law, where he was Editor-in-Chief of the Columbia Law Review.
Mr. Hawke succeeded Eugene A. Ludwig, whose five-year term as Comptroller of the Currency expired on April 4, 1998. Until Mr. Hawkes appointment, Julie L. Williams, Chief Counsel at the Office of the Comptroller of the Currency, was Acting Comptroller, also serving on the FDIC Board.
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