The Federal Deposit Insurance Corporation (FDIC) today announced a reorganization of its Legal Division to strengthen the Legal Division's contribution to the overall mission of the Corporation. The reorganization will divide the Supervision & Legislation Branch into two distinct units, the Supervision Branch and the Consumer & Legislation Branch. Changes will not be made to other areas of the Division.
John V. Thomas, currently Assistant General Counsel in the Supervision & Legislation Branch, has been selected to serve as Deputy General Counsel to head the new Supervision Branch. Mr. Thomas began his FDIC career as Counsel, Open Bank Litigation Section, in 1985. From 1988 to 1997, he served as Associate General Counsel of the Professional Liability Section, and from 1996 to 2003 as Associate General Counsel of the Receivership Goodwill Section. Mr. Thomas has acted in the capacity of Deputy General Counsel since the retirement of former Senior Deputy General Counsel Douglas H. Jones on June 30, 2007.
Roberta K. McInerney has been selected to head the new Consumer & Legislation Branch. Ms. McInerney most recently served as the Assistant General Counsel (Banking & Finance) at the Department of Treasury where, since 1997, she served as the principal legal advisor to the Treasury Department on issues affecting depository and other financial institutions. In her tenure at Treasury since 1991, Ms. McInerney was also a key legal resource to Treasury in drafting and providing legal counsel on banking legislation and also worked with the Federal Reserve Board to develop and draft key regulations to implement new financial activities authorized by the Gramm-Leach-Bliley Act. Ms. McInerney previously served as a Legislative Attorney for the FDIC's Office of Legislative Affairs from 1989 to 1991. She has also worked on Capitol Hill and in the Federal Reserve Board's Legal Division from 1982 to 1986.
The reorganization was effective September 30, 2007.
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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 8,615 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. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-82-2007