FDIC Director Submits Resignation Effective June 5

Jeremiah Norton

Federal Deposit Insurance Corporation (FDIC) Director Jeremiah O. Norton has resigned from that position effective June 5, according to an announcement from the FDIC.

Norton has served as FDIC director since April 2012.

"It has been an honor and a privilege to serve as a Director of the FDIC," Norton wrote in his resignation letter to President Obama. "I would like to express my gratitude to you and to the members of the Senate for affording me the opportunity to work with the many talented and dedicated public servants at the FDIC."

Before joining the FDIC Board of Directors, Norton served in various government positions for a number of years. He held the position of Deputy Assistant Secretary for Financial Institutions Police at the Department of Treasury. He has also served as a Legislative Assistant and professional staff member for U.S. Congressman Ed Royce (R-California).

Immediately prior to being sworn in to the FDIC's Board of Directors in 2012, Norton served as Executive Director at J.P. Morgan Securities in New York, New York. He has a Juris Doctor from the Georgetown University Law Center and an A.B. in economics from Duke University.

"Jeremiah has been an extraordinarily effective and influential member of the FDIC Board," FDIC Chairman Martin J. Gruenberg said. "He has made major contributions to important actions by the FDIC in the wake of the financial crisis. We are grateful for his service, we will miss his thoughtful insights, and we wish him well in his future endeavors."