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FDIC Prepares for Increased East Coast Failures

FDIC Prepares for Increased East Coast FailuresJacksonville temporary unit will house up to 500

May 9, 2009

By MortgageDaily.com staff

The Federal Deposit Insurance Corporation is establishing a temporary satellite location in the East to deal with the volume increased bank failures in the area. The operation will be staffed with up to 500 new positions.A temporary satellite office is opening in Jacksonville, Fla., a news release today said. The unit will manage receiverships and liquidate assets from failed financial institutions primarily located on the East Coast.

“The decision was based on mission needs and workload,” the statement said.

The new office will house up to 500 nonpermanent staff and contractors based on the volume of failures in the region and the associated workload. The FDIC will gradually begin moving into the new space beginning in September.

An FDIC spokesman said in a statement that most of the positions will be new employees.

“Throughout its history, the FDIC has used these offices to keep temporary asset resolution staff closer to the concentration of failed bank assets they oversee,” the FDIC said. “As the work diminishes, the temporary satellite offices are closed.”

A few job postings will begin in May, according to the spokesman. Job seekers are being directed to 877.275.3342 or FDIC.gov.

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