FDIC name new leadership

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The Federal Deposit Insurance Corporation (FDIC) has unveiled Martin Gruenberg and Thomas Hoenig as its new chairman and vice chairman, respectively, after their appointment by President Barack Obama.

Gruenberg progresses from the role of acting chairman, which he assumed in July 2011 after his predecessor Sheila Bair's five-year term expired. Hoenig, meanwhile, steps into Gruenberg's shoes as vice chairman.

Both men were awarded six-year terms on the FDIC's five-person board of directors by the

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