Thomas M. Hoenig and Jeremiah O. Norton were sworn in as members of the board of directors of the Federal Deposit Insurance Corp. (FDIC).
Prior to joining the FDIC's board, Hoenig was the president of the Federal Reserve Bank of Kansas City and a member of the Federal Reserve System's Federal Open Market Committee from 1991 to 2011. Norton joins the board after serving as an executive director at J.P. Morgan Securities in New York. He was in government for a number of years before that, most recently as the deputy assistant secretary for financial institutions policy at the U.S. Treasury Department.
‘I welcome Thomas Hoenig and Jeremiah Norton to the FDIC, and look forward to working with them,’ says FDIC Acting Chairman Martin J. Gruenberg. ‘They both are accomplished individuals, and their perspectives and experience will be important additions to the board as the FDIC continues to respond to a number of challenging issues and continues with the rulemaking process.’