Feb. 7, 2012 – President Obama has nominated former Treasury official and current banking executive Jeremiah Norton to serve as a board director for the FDIC.
Norton, who served at Treasury under the Bush administration and helped craft legislation for both the Troubled Assets Relief Program and the government conservatorship of Fannie Mae and Freddie Mac, was reportedly a recommendation made by Senate Republicans, (Reuters, Feb. 3).
Currently serving as an executive director of J.P. Morgan, Norton advises financial institutions on mergers and acquisitions and other corporate finance transactions.
Prior to joining the banking giant, Norton served as the deputy assistant secretary for financial institutions policy at Treasury from 2007 to 2009. During that time, Norton worked closely with former Treasury Secretary Hank Paulson in developing legislative and regulatory policies affecting financial institutions.
Prior to his time at Treasury, Norton served on the legislative staff of long-time credit union advocate Rep. Ed Royce, R-Calif., as the primary advisor on banking and insurance issues. Norton received an A.B. in Economics from Duke University, and a J.D. from the Georgetown University Law Center.