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Federal Deposit Insurance Corporation

550 Seventeenth Street NW., Washington, DC 20429


Board of Directors

Board of Directors
CHAIRMartin J. Gruenberg
Vice ChairThomas M. Hoenig

Director (Consumer Financial Protection Bureau)J. Michael Mulvaney, Acting
Director (Office of the Comptroller of the Currency)Joseph M. Otting

Headquarters–Washington, DC

Headquarters–Washington, DC
CHAIRMartin J. Gruenberg
Vice ChairThomas M. Hoenig

Chief of StaffBarbara A. Ryan
Special Advisor for Supervisory MattersJason C. Cave

Deputy to the ChairKymberly K. Copa
Deputy to the Chair / Chief Financial OfficerSteven O. App
Deputy to the Chair / Chief Operating OfficerBarbara A. Ryan
Deputy to the Vice ChairMichael Spencer, Acting

Chief Information Officer / Chief Privacy OfficerHoward Whyte, Acting
Chief Information Security OfficerNoreen Padilla, Acting
Director, AdministrationArleas Upton Kea
Director, Corporate University / Chief Learning OfficerSuzannah L. Susser
Director, Depositor and Consumer ProtectionMark E. Pearce
Director, FinanceCraig R. Jarvill
Director, Information TechnologyRussell G. Pittman
Director, Insurance and ResearchDiane Ellis
Director, Resolution and ReceivershipsBret D. Edwards
Director, Risk Management SupervisionDoreen R. Eberley
General CounselCharles Yi

Chief Risk OfficerKenyon Kilber, Acting
Deputy to the Chair for CommunicationsBarbara Hagenbaugh
Director, Complex Financial InstitutionsRicardo R. Delfin
Director, Legislative AffairsM. Andy Jiminez
Director, Minority and Women InclusionSaul Schwartz, Acting
OmbudsmanM. Anthony Lowe
Inspector GeneralJay N. Lerner

The above list of key personnel was updated 02–2018.

The above list of key personnel was updated 02–2018.

The Federal Deposit Insurance Corporation preserves and promotes public confidence in U.S. financial institutions by insuring bank and thrift deposits, examining State-chartered banks, and liquidating assets of failed institutions.

The Federal Deposit Insurance Corporation (FDIC) was established under the Banking Act of 1933 after numerous banks failed during the Great Depression. The FDIC began insuring banks on January 1, 1934. The basic insurance coverage per depositor at each insured bank and savings association is $250,000.

The FDIC is managed by a five-member Board of Directors, all of whom the President appoints and the Senate confirms. No more than three of the Directors can be affiliated with the same political party.

The FDIC insures approximately 5,850 institutions. It receives no congressional appropriations. FDIC funding comes from insurance premiums on deposits held by insured banks and savings associations and from interest on the investment of those premiums in U.S. Government securities. FDIC has authority to borrow up to $100 billion from the Treasury for insurance purposes.


The FDIC insures about $13 trillion of U.S. bank and thrift deposits. As required by law, the fund relies on two sources of income: premiums paid by banks and savings associations, and the interest on the investment of those premiums in U.S. Government securities. An institution's level of capitalization and potential risk to the insurance fund determines its premiums.

The FDIC examines about 3,600 State-chartered commercial and savings banks that are not members of the Federal Reserve System, called State nonmember banks. The FDIC also has authority to examine other types of FDIC-insured institutions for deposit insurance purposes. The two types of examinations conducted are for safety and soundness and for compliance with applicable consumer laws such as the Truth in Lending Act, the Home Mortgage Disclosure Act, the Equal Credit Opportunity Act, the Fair Housing Act, and the Community Reinvestment Act. FDIC examiners work onsite at the institution as well analyze bank data offsite.

A failed bank or savings association is generally closed by its chartering authority, and the FDIC is named receiver. The FDIC is required to resolve the closure in a manner that is least costly to its Deposit Insurance Fund. Ordinarily, the FDIC attempts to locate a healthy institution to acquire the failed entity. If such an entity cannot be found, the FDIC pays depositors the amount of their insured funds, usually by the next business day following the closure. Depositors with funds that exceed the insurance limit often receive an advance dividend, which is a portion of their uninsured funds that is determined by an estimate of the future proceeds from liquidating the failed institution's remaining assets. Depositors with funds in a failed institution that exceed the insurance limit receive a receivership certificate for those funds and partial payments of their uninsured funds as asset disposition permits.

As part of its insurance, supervisory, and receivership responsibilities, the FDIC approves or disapproves mergers, consolidations, and acquisitions where the resulting bank is an insured State nonmember; approves or disapproves proposals by banks to establish and operate a new branch, close an existing branch, or move its main office from one location to another; and approves or disapproves requests to engage as principal in activities and investments that are not permissible for a national bank. It also issues enforcement actions, including cease-and-desist orders, for specific violations or practices requiring corrective action and reviews changes in ownership or control of a bank.

Sources of Information

Assistance for Bank Customers

An electronic form is available for filing a complaint against a particular financial institution. The form also may be used to inquire about FDIC deposit insurance coverage or to ask a question about a particular financial institution.

Bank Failures

The FDIC maintains a failed bank list that contains information on how accounts and loans are affected, how vendors can file claims against the receivership, and the acquiring bank—if applicable. The list covers from October 1, 2000, to the present.

Starting with the year 2001, the FDIC maintains a brief summary of each bank failure. For additional information on recent failures, call the customer service hotline. Phone, 888-206-4662.

A search tool is available online to help the public find the point of contact information of failed institutions.

Detailed information on bank and thrift failures since 1934 is available on the FDIC website.

Bank Finder

The FDIC website has an online tool for locating insured banking institutions.

Call Center

The call center is open every day of the week: Monday–Friday, 8 a.m.–8 p.m., eastern standard time; Saturday and Sunday, 9 a.m.–5 p.m., eastern standard time. Phone, 877-275-3342. Phone, 800-925-4618 (hearing impaired).

Career Opportunities

FDIC job openings and information on career transition assistance, student employment opportunities, and submitting an application are available online.

In 2017, the FDIC ranked 3d among 25 midsize Government agencies in the Partnership for Public Service's Best Places To Work Agency Rankings.

Electronic Deposit Insurance Estimator (EDIE)

Consumers and bankers can use EDIE to determine, on a per-bank basis, how the insurance rules and limits apply to a depositor's specific group of deposit accounts—what is insured and what portion, if any, exceeds coverage limits.

Enlaces en Español

Links to information and resources in Spanish are available on the FDIC website.

Freedom of Information Act (FOIA)

The FDIC operates a FOIA service center that is open on weekdays, 8:30 a.m.–5:00 p.m., excluding Federal holidays. Phone, 202-898-7021. | Email:

The FDIC's FOIA guide offers a concise explanation of the FOIA and how it can be used to access Government records. It also explains the process for submitting a request to the FDIC. The guide also provides links to helpful reference guides and describes how additional information may be obtained from the FDIC.

The FDIC accepts electronic FOIA requests.


"On March 3 banking operations in the United States ceased . . . the government has been compelled to step in." These words, President Franklin D. Roosevelt spoke to the U.S. Congress in 1933, 6 days after the banks had closed, when the Nation's banking system still lay dormant. The U.S. economy was in the throes of deep and widespread depression. Three months later, in response to the crisis, President Roosevelt approved the Banking Act of 1933, giving birth to the FDIC and Federal depositor protection, which the general public supported. To learn about the antecedents to Federal deposit insurance and the creation of the FDIC and its general history, see "A History of the FDIC 1933–1983."

In 2008 and 2009, FDIC agents were active seizing failed banks. To learn about the process of a bank seizure and the efforts made by the FDIC to shield employees and depositors from the ill effects of a failure, watch the CBS 60 Minutes video "Your Bank Has Failed."

News / Events

The FDIC posts conferences and events, financial institution letters, opinion editorials, press releases, speeches, and testimonies on its website.

The FDIC offers an online subscription service for email alerts. A subscriber may opt to receive various types of alerts: financial institution letters, news releases, statistical publications, and other types.

The FDIC disseminates information and news using RSS feeds.

The FCC tweets news items and other information on Twitter.

Office of Inspector General (OIG)

The OIG operates a toll-free, nationwide hotline to provide a way for FDIC employees, its contractors, financial institution staff, and other members of the public to report incidents of abuse, fraud, mismanagement, and waste within FDIC programs and activities or its contractor operations. A person can file a report anonymously, confidentially, or openly by using the hotline; however, filing a report by email guarantees neither anonymity nor confidentiality. Phone, 800-964-3342. Fax, 703-562-6444. | Email:

Open Government

The FDIC supports the Open Government initiative by promoting the principles of collaboration, participation, and transparency. | Email:

Plain Language

The FDIC welcomes comment on it’s compliance with the Plain Writing Act of 2010 and suggestions for improving communication between the agency and the public. | Email:


The FDIC website has an online product catalog and ordering system.

Publications, press releases, congressional testimony, directives to financial institutions, and other documents are available through the Public Information Center. Phone, 877-275-3342 (press 1, then press 5). | Email:

Site Map

The website map allows visitors to look for specific topics or to browse for content that aligns with their interests.

Social Media

The FDIC has a Facebook account.

The FDIC tweets announcements and other newsworthy items on Twitter.

The FDIC posts videos on its YouTube channel. | Email:

For further information and media inquiries, contact the Office of Communications, Federal Deposit Insurance Corporation, 550 Seventeenth Street NW., Washington, DC 20429. Phone, 202-898-6993.