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Federal Deposit
Insurance Corporation

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

Information for Prospective Outside Counsel

September 2017

The Federal Deposit Insurance Corporation promotes stability in the banking industry, and more broadly, for our economy as a whole. As a provider of deposit insurance for banks and savings associations and as manager or liquidator of the assets and liabilities of closed insured institutions, the FDIC strives to minimize costs to the federal deposit insurance funds associated with these efforts.

It is the role of the Legal Division to support the mission of the FDIC by providing high-quality legal representation and advice in the most practicable, efficient and cost-effective manner. While much of this work is handled in-house, the Legal Division may engage outside counsel to assist in the representation of the FDIC. During the banking “crises” of the 1980s, early 1990s and, 2008 the FDIC relied heavily on outside counsel given the large volume of legal work. With the current health of financial institutions and the anticipated decrease in legal work, the FDIC’s need for outside counsel may not increase in the near term. The Legal Division, does not, at present, anticipate an increased need for outside counsel in the future.

This publication outlines how outside counsel can become eligible to provide services to the FDIC. Thank you for your interest in representing the FDIC.

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