Donna A. Tanoue was sworn in today as the 17th Chairman of the Federal Deposit Insurance Corporation (FDIC).
Andrew C. Hove, Jr., who has served as Acting Chairman since June 1997, will resume his position as the agency's Vice Chairman.
Prior to being sworn in as FDIC Chairman, Ms. Tanoue was an attorney with the law firm of Goodsill Anderson Quinn & Stifel, Honolulu.
Ms. Tanoue served as the state of Hawaii's financial institutions commissioner during the state's banking crisis in the mid-1980s, engineering a rescue package for the state's underfunded thrift insurance corporation.
Ms. Tanoue also began the modernization of Hawaii's banking laws.
Ms. Tanoue is a graduate of the Georgetown University Law Center and the University of Hawaii.
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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 10,922 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.
Copies of the Survey of Real Estate Trends are available on the Internet (at http://www.fdic.gov/bank/analytical/survey/index.html), by fax (dial 804-642-0003 on your fax machine and follow the voice prompts to request Document No.250), or by mail or messenger (contact the FDIC's Public Information Center at 800-276-6003 or (703) 562-2200).