Federal Deposit Insurance Corporation General Counsel Charles Yi announced that he will be leaving the agency at the end of March. He was appointed general counsel in January 2015.
“During Charles’ tenure at the FDIC, the agency benefitted from his insight, leadership, and past experiences with Congress, the Treasury, the private sector, and the U.S. Army,” said FDIC Chairman Jelena McWilliams. “He has been involved in numerous rulemakings, enforcement actions, and litigation with a steady focus on the FDIC’s mission and mandate. I wish him well in his future endeavors.”
Before becoming FDIC general counsel, Yi served as staff director and chief counsel on the Senate Committee on Banking, Housing, and Urban Affairs; as deputy assistant secretary for banking and finance at the U.S. Treasury Department; and as counsel for the Committee on Financial Services of the U.S. House of Representatives. Prior to his public sector experience, Yi practiced banking, corporate, and securities law at WilmerHale, as well as Wachtell, Lipton, Rosen & Katz. He also previously served in the U.S. Army as captain and lieutenant in the Armored Cavalry.
Congress created the FDIC in 1933 to restore public confidence in the nation’s banking system. The FDIC insures deposits at the nation’s banks and savings associations—5,406 as of Dec. 31, 2018. It promotes the safety and soundness of these institutions by identifying, monitoring, and addressing risks to which they are exposed. The FDIC receives no federal tax dollars—insured financial institutions fund its operations.