The Federal Deposit Insurance Corporation (FDIC) Friday announced that the Board of Directors has approved the appointment of Saul Schwartz as director of the FDIC's Office of Minority and Women Inclusion (OMWI).

Schwartz has served as acting OMWI director since February 2017. He joined the FDIC in 1989, and previously worked in the legal division specializing in labor and employment law, Equal Employment Opportunity (EEO), diversity and inclusion, and contracting. Previously, Schwartz worked at the Federal Labor Relations Authority from 1984 to 1989.

Schwartz is a graduate of the University of Pittsburgh School of Law and is admitted to the bar in Arizona, the District of Columbia, and Pennsylvania. He has also earned a master's degree in management and labor relations from Purdue University and a bachelor's degree with a major in sociology from the University of Pittsburgh.

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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 banks and savings associations, 5,738 as of September 30, 2017. 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).