John M. Reich was sworn in January 15, 2001, as Director of the Federal Deposit Insurance Corporation (FDIC) following an appointment by President of the United States Bill Clinton and served on the FDIC Board for eight years. Reich served as Vice Chairman of the Board of the FDIC from November 2002 until he was nominated on June 7, 2005 by President George W. Bush to be Director of the Office of Thrift Supervision (OTS), and the U.S. Senate confirmed his nomination on July 29, 2005. He also served as Acting Chairman of the FDIC from July to August 2001. As Deputy Chairman, 2001–2005, Reich served as the Chair of FDIC's Audit Committee during a time when the General Accounting Office issued reportable conditions regarding information security at the Corporation.
Reich took the oath of Director of OTS on August 9, 2005 and continued in that capacity as well as serving as a member of the FDIC Board of Directors until he resigned on February 12, 2009 and stepped down February 27, 2009.
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