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Former Treasury Official Nominated to FDIC Board

The White House late Friday named former Treasury Department official Jeremiah Norton to the remaining seat on the Federal Deposit Insurance Corp. board of directors.

If confirmed, Norton – who from 2007 to 2009 was deputy assistant Treasury secretary for financial institutions policy – would fill the independent FDIC board seat now occupied by Thomas Curry. Curry is awaiting confirmation to be comptroller of the currency, which would allow him to stay on the FDIC board.

But although the announcement means the Obama administration has in theory rounded out its board choices, the prospects for all five seats remain unclear amid fallout from the hiring of Consumer Financial Protection Bureau Director Richard Cordray.

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