Michael Krimminger has been named general counsel of the Federal Deposit Insurance Corp., Chairman Sheila Bair announced today.
Krimminger since 2009 has served as deputy to the chairman for policy, leading the development of initiatives including the FDIC's new orderly liquidation authority under the Dodd-Frank Wall Street Reform and Consumer Protection Act. Before that, he spent three years as an adviser in the office of the chairman and more than 10 years in other senior policy and management positions.
The FDIC general counsel is in charge of the agency's legal division, which is responsible for legal work on regulatory issues, as well as FDIC transactions, litigation and corporate and commercial claims. The division has more than 800 employees nationwide.
Bair in a news release said Krimminger’s “depth and breadth of knowledge of domestic and international banking issues and extensive expertise in resolutions and deposit insurance systems have made him exceptionally well positioned to serve as general counsel in the current regulatory environment.”