Vice Chairman and a Member of the Board of Directors of the Federal Deposit Insurance Corporation [1] (FDIC) Thomas M. Hoenig has announced that he is stepping down on April 30, 2018. Hoenig joined the Board in April 2012, and has served a full six-year term.
Prior to joining the FDIC Board, Hoenig was the President of the Federal Reserve Bank of Kansas City and a Member of the Federal Open Market Committee (FOMC) from 1991-2011.
"It has been an honor and a privilege to serve the public and be a part of the FDIC and its mission during these past six years," Hoenig said.
"I would like to thank Vice Chairman Hoenig for his extraordinary career of public service at both the FDIC and the Federal Reserve Bank of Kansas City,” FDIC Chairman Martin Gruenberg said. “Tom has been a forceful advocate for strong, independent financial regulation and has contributed enormously to the mission of the FDIC during his time as Vice Chairman. The FDIC was fortunate to benefit from his service."