FDIC Chairman Donna Tanoue today announced the appointments of five
senior executives: Myrta "Chris" Sale as Chief Financial Officer;
Arleas Upton Kea as Director of the Division of Administration; Stephen
Michael Cross as Director of the Division of Compliance and Consumer
Affairs; Frederick S. Selby as Director of the Division of Finance;
and D. Michael "Mickey" Collins as Director of the Office of Diversity
and Economic Opportunity.
In announcing the appointments, Chairman Tanoue said, "We are
creating a senior management team that will lead the FDIC into the new
millennium. The talent, knowledge and experience of our five new appointees
– from inside the Corporation and from outside – combined with the strong
senior management we now enjoy – give us the leadership we must have
to meet the challenges of a changing financial services industry and
a changing America."
Ms. Sale, the new Chief Financial Officer, currently serves as Director
of Management Initiatives at the Office of Management and Budget (OMB).
She coordinates OMB oversight of Federal management initiatives under
the direction of the Deputy Director for Management.
Ms. Sale served as Chief Operating Officer of the Small Business Administration
(SBA) from September 1997 to July 1998.
Before joining SBA, she served as Deputy Commissioner for the Immigration
and Naturalization Service (INS) at the Department of Justice.
She also held the positions of Acting Commissioner and Executive Associate
Commissioner for Management at INS.
Before joining the INS, Ms. Sale held numerous finance positions, including
Director of Finance for the U.S. Department of Veterans Affairs; Vice
President, Finance and Administration, and Treasurer, National Public
Radio; Director, Office of Budget and Management, State of Ohio; and
Director of Financial Management for the Peace Corps.
A native of Puerto Rico, Ms. Sale is fluent in Spanish. She holds a
bachelor’s degree from Boston University and a master’s degree in business
administration from American University.
"Chris Sale has been a remarkably valuable contributor to the
work of several government agencies, and I am excited that she is bringing
her knowledge and experience to the FDIC to serve in a position of crucial
importance to our operations and mission," FDIC Chairman Tanoue
said of the appointment.
The new Director of the Division of Administration, Arleas Upton Kea,
is an FDIC veteran who joined the Corporation in 1985.
She has served as a Senior Attorney in the Corporation’s Legal Division,
Professional Liability Section, was promoted to Counsel in the Conflicts
and Criminal Restitution Section, returned to the Professional Liability
Section as Senior Counsel, and served in the Corporate Affairs Section
as both Acting Deputy General Counsel, as well as Assistant General
Counsel, until named to her current position as Ombudsman for the FDIC.
As Ombudsman, Ms. Kea served as a confidential and neutral source to
raise concerns regarding issues of fairness in the administration of
Ms. Kea received undergraduate and law degrees from the University
of Texas at Austin.
"Ms. Kea has had a distinguished career at the FDIC, where she
quickly rose through positions of increasing responsibility in the Legal
Division and was named Ombudsman. She brought a high level of credibility
to the Office of the Ombudsman, and today it serves as a model for other
such offices throughout government," said FDIC Chairman Donna Tanoue.
"Her knowledge and experience uniquely qualify her to manage operations
involving personnel, acquisitions, and corporate services, with a staff
of 665 people and a budget of $227 million."
The new Director of the Division of Compliance and Consumer Affairs,
Stephen Michael Cross, is currently Deputy Comptroller for Community
& Consumer Policy, Office of the Comptroller of the Currency (OCC).
In that position, he is responsible for establishing the OCC’s policies
for supervising national banks’ compliance with consumer protection
and disclosure laws, fair lending laws, the Community Reinvestment Act,
and the Bank Secrecy Act. Mr. Cross has been employed by the OCC for
15 years, serving in a wide variety of positions.
He received an undergraduate degree from Texas Christian University
in 1974 and a Ph.D. in economics from the University of Virginia in
"Appointing Stephen Cross as the new Director of our Division
of Compliance and Consumer Affairs reflects this Corporation’s commitment
to our important role in enforcing consumer protection and fair lending
laws," said FDIC Chairman Donna Tanoue. "I will look to Steve
to play a key role in developing appropriate strategies to administer
the Corporation’s compliance examination, community and consumer outreach
programs – and to raise the profile of the Division of Compliance and
The new Director of the Division of Finance, Frederick S. Selby, has
worked for the FDIC for more than seven years, most recently as Acting
Director of the Division. Before joining the FDIC, Mr. Selby worked
for the Resolution Trust Corporation. During his military service, Mr.
Selby organized and commanded two finance groups and was the Chief Financial
Officer for the 200th Theatre Army Material Management Center.
He holds an undergraduate degree from the University of Missouri and
a graduate degree from the University of Northern Colorado.
"Through his exemplary service as Acting Director of the Division
of Finance, Fred Selby has demonstrated enormous expertise, as well
as managerial skill and ability to work well with people," said
Chairman Donna Tanoue of the appointment. "Managers throughout
the Corporation owe Fred a debt of gratitude for his accomplishments
in benchmarking our operations, giving us the tools to be more effective
and efficient. The Corporation has benefited greatly from his work –
and will continue to benefit in the years to come."
Before his appointment as the Director of FDIC’s Office of Diversity
and Economic Opportunity, D. Michael (Mickey) Collins was Deputy for
Equal Opportunity, Office of the Assistant Secretary of the Air Force
for Manpower, Reserve Affairs, Installations and Environment.
In that post, he was responsible for providing guidance, direction
and oversight of policies, plans and programs affecting equal opportunity
for Air Force military and civilian personnel.
Mr. Collins graduated from Howard University in 1969 and was commissioned
as a second lieutenant in the Air Force. He retired from the Air Force
in 1992 as a lieutenant colonel.
Before returning to the Air Force as a civilian employee, he worked
as a diversity awareness consultant for public school systems throughout
"The Director of ODEO is a key player in designing, implementing
and operating the Corporation’s equal employment opportunity and affirmative
action programs," said Chairman Donna Tanoue of the appointment.
"Our goal is for the FDIC to become a leader in Federal sector
equal opportunity and diversity programs. As the only permanent member
of the Corporation’s Diversity Steering Committee, Mickey Collins will
be a key player in corporate diversity efforts."
# # #
Congress created the Federal Deposit
Insurance Corporation in 1933 to restore public confidence in the
nation's banking system. The FDIC insures deposits at the nation's
10,461 banks and savings associations and it promotes the safety and
soundness of these institutions by identifying, monitoring and addressing
risks to which they are exposed.
FDIC press releases and other information are available
on the Internet via the World Wide Web at www.fdic.gov and may also be obtained through the FDIC's Public Information Center
(800-276-6003 or (703) 562-2200).