The Federal Deposit Insurance Corporation (FDIC) has appointed Michael Krimminger as the agency's new general counsel, effective immediately. In this capacity, he will head the legal division to oversee the legal work of regulatory issues, as well as FDIC transactions, litigation, and corporate and commercial claims.

Krimminger has served as a key policy adviser to the FDIC since 2006, leading the development of major policy initiatives, including the FDIC's new Orderly Liquidation Authority under the Dodd-Frank Wall Street Reform and Consumer Protection Act. As deputy to the chairman for policy since 2009, Krimminger has served as the chairman's adviser and has directed policy initiatives on a wide variety of banking and financial institution crisis and resolution, mortgage finance, international coordination, capital markets, and legal issues.

He has represented the FDIC on several interagency and international working groups to develop improved resolution practices and legislative initiatives to respond to the changing banking environment, and co-chaired the Basel Committee on Banking Supervision's Cross Border Resolutions Working Group and the Basel Committee and International Association of Deposit Insurer's Working Group.

Prior to becoming deputy to the chairman, Krimminger served three years as an adviser in the Office of the Chairman and more than ten years in other senior policy and management positions. Before joining the FDIC, Krimminger practiced banking law and litigation.