Jay N. Lerner Sworn In as FDIC Inspector General

Press Release

Jay N. Lerner Sworn In as FDIC Inspector General

FOR IMMEDIATE RELEASE January 9, 2017

Media contact: Sharon Tushin (703) 562-6340 stushin@fdic.gov

Jay N. Lerner was sworn in on Monday as the Inspector General of the Federal Deposit Insurance Corporation (FDIC). Mr. Lerner oversees the Office of Inspector General, which conducts investigations of potential fraud and other crimes related to insured financial institutions and closed banks. The office also works to detect and deter waste, fraud, and abuse at the FDIC, while promoting economy and efficiency at the agency.

Mr. Lerner has worked in the federal government for nearly 25 years. Most recently, Mr. Lerner was Chief of Staff and Senior Counsel at the Office of the Inspector General at the Department of Justice (DOJ). Previously, he served as Assistant Chief in the Fraud Section in the Criminal Division at DOJ, overseeing strategy and policy. Mr. Lerner also prosecuted banking and money laundering cases at the DOJ.

He served in the Department of Homeland Security's Office of the General Counsel as Associate General Counsel for Strategic Oversight and Review and as Chief Counsel for Security. He also was the Deputy Chief Counsel for Criminal Enforcement at the Transportation Security Administration.

Mr. Lerner, who was nominated by the President and confirmed by the Senate, earned his Juris Doctor degree from the University of Pennsylvania Law School and has taught several courses on criminal law and law enforcement at the George Washington University. He received a Bachelor of Science degree in Accountancy from the University of Illinois and passed the Certified Public Accountant examination.

Fred Gibson, who has served as acting Inspector General since September 2013, will return to his previous position as Principal Deputy in the FDIC Office of Inspector General.

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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's banks and savings associations, 5,980 as of September 30, 2016. 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.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-2-2017

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