Donna Tanoue Announces Her Resignation As Chairman Of The FDIC

June 12, 2001

Donna Tanoue today announced that she has submitted her resignation as Chairman of the Federal Deposit Insurance Corporation, effective July 11, 2001.

In her letter to President Bush, Chairman Tanoue said, "the time has come to move on to new challenges."

Ms. Tanoue took office as the 17th Chairman of the FDIC on May 26, 1998.

Under Chairman Tanoue's leadership, the FDIC embarked on the most comprehensive reevaluation of the deposit insurance system since the Corporation was founded in 1933. As a result of that reevaluation, the FDIC proposed important changes to the Federal deposit insurance program. The Corporation addressed the risks of subprime lending, and initiated important proposals to address the problems of predatory and payday lending. As Chairman, Ms. Tanoue pointed to concerns with industry performance, and she sounded appropriate safety and soundness alarms.

During her administration, the Corporation reduced its workforce and budget. Staffing declined from nearly 7,800 to 6,500. The Corporation's 2001 budget is six percent smaller than its 2000 budget.

In her letter to the President, Chairman Tanoue concluded: "I shall always be grateful for the opportunity to serve our country and to work with so many outstanding men and women at the FDIC. Simply put, there is no better place to serve America."

Source: FDIC

Contact ALTA at 202-296-3671 or

SoftPro, based in Raleigh, NC, offers a mature suite of products, designed specifically for the closing and title industry. Our mission is to serve our client base, with best-in-class products and services. Our products are modular so we don't force you to buy anything you don't need. You can always add on as your business grows. Unlike other software companies, we view the sale as the beginning of the relationship rather than the end. North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents. ALTA ONE Sidebar Ad - Green and Blue