THE WHITE HOUSE
Office of the Press Secretary
PRESIDENT ANNOUNCES HIS INTENTION TO NOMINATE INSPECTOR GENERAL FOR THE FEDERAL DEPOSIT INSURANCE CORPORATION The President today announced his intention to nominate Norwood
J. Jackson, Jr. as the Inspector General for the Federal Deposit Insurance Corporation.
Norwood J. Jackson, Jr., of Virginia, is a Certified Public Accountant who has been serving as the Chief, Financial Standards and Reporting Branch, at the Office of Management and Budget since 1991. In this capacity, he directs the development of training for Federal officials in the areas of internal controls designed to ensure the accuracy of financial data. Previously, Mr. Jackson served as Deputy Auditor of Public Accounts of the Commonwealth of Virginia from 1985 to 1991. From 1979 to 1985, he was responsible for managing and directing financial and compliance audits of Virginia state agencies and institutions. Mr. Jackson received his B.S. degree in Accounting from Atlantic Christian College in 1971.
Congress amended the Federal Deposit Insurance Act in December, 1993, to require the Inspector General of the Federal Deposit Insurance Corporation (FDIC) to be appointed by the President and confirmed by the Senate. The FDIC Office of Inspector General has an FY 1994 budget of $26 million and a staff of approximately 200 individuals.