FDIC Acting Chairman Martin J. Gruenberg said, "The Senate confirmation of the three pending FDIC nominees gives the Corporation a complete five-member board and provides additional stability and continuity moving forward. This is an important step as the FDIC continues to respond to a number of challenging issues and continues with the rulemaking process. I welcome the two new internal directors to the FDIC – Thomas Hoenig and Jeremiah Norton - and look forward to working with them as I continue in my role as Acting Chairman. I would also like to recognize Tom Curry for his dedicated service to the FDIC and am very pleased that we will continue to work together in his capacity as Comptroller of the Currency and FDIC board member."
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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 7,359 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-35-2012