FDICmember

FDICmember refers to an individual who serves as a member of the Board of Directors of the Federal Deposit Insurance Corporation (FDIC), the independent U.S. government agency that provides deposit insurance for bank customers and supervises financial institutions. The FDIC was established by the Federal Deposit Insurance Act of 1933 in response to the banking crisis of the Great Depression and was made permanent in 1934. Its core mission is to maintain public confidence in the U.S. financial system by protecting depositors, examining and supervising banks, and managing receiverships of failed institutions.

The FDIC Board consists of nine directors appointed by the President and confirmed by the U.S. Senate. Members serve staggered four‑year terms, and the same individual may not immediately return to the same seat after a vacancy occurs. The FDIC Act requires that the Board maintain a balance of independent directors and those representing the banking community, ensuring a diversity of expertise. The Chair and Vice Chair are selected from among the directors and are assisted by a Chief Operating Officer and a Secretary.

Board members attend regular meetings where they review financial statements, approve budgets, and evaluate the performance of the FDIC’s supervisory and enforcement activities. They also have the authority to approve the appointment of the FDIC’s top executive officers and to oversee the agency’s policy decisions. FDICmembers work closely with federal regulators and state banking authorities to ensure that all eligible banks remain sound and that depositor funds are protected. Their responsibilities are guided by the FDIC Act and reinforced by oversight from the Federal Government Accountability Office and congressional committees. The collective work of FDICmembers helps to sustain the stability and integrity of the U.S. banking system.