FDIC Vice Chairman Tom Hoenig to Speak at Benedictine College Nov. 2

FDIC Vice Chairman Tom Hoenig to Speak at Benedictine College Nov. 2

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Benedictine College is pleased to present Thomas M. Hoenig, vice-chairman of the Federal Deposit Insurance Corporation (FDIC), former president of the Federal Reserve Bank of Kansas City, and 1968 alumnus, in a special community presentation on Monday, November 2, at 7:30 p.m. in the McAllister Board Room on the fourth floor of the Ferrell Academic Center on the school’s Atchison campus. The event, sponsored by the Thomas M. Hoenig Student International Business Council, is free and open to the public.

Hoenig was confirmed by the Senate as Vice Chairman of the FDIC in 2012. He joined the organization as a member of the FDIC Board of Directors for a six-year term. He has represented the FDIC at the International Association of Deposit Insurers (IADI) since 2012 and was just elected to serve as that organization's President and Chairman of its Executive Council for a two-year term. The election took place at IADI's annual general meetings held Oct. 25-30 in Kuala Lumpur, Malaysia. The IADI is an international organization of deposit insurers with 80 worldwide members from Albania to Zimbabwe. Read the release here.

Hoenig retired from the Federal Reserve Bank of Kansas City in 2011 after 20 years as president and a 38-year career with the Bank. As president, he oversaw Federal Reserve activities in the Tenth Federal Reserve District, which includes western Missouri, Kansas, Nebraska, Colorado, Wyoming, Oklahoma and northern New Mexico. At the time of his retirement, he was the longest serving of the 12 Federal Reserve Bank presidents and the longest-tenured member of the Federal Open Market Committee (FOMC), which has authority over U.S. monetary policy. During the recent financial crisis and aftermath, he has been especially vocal about monetary policy and financial industry regulation.

As a voting member of the FOMC in 2010, he was the committee’s lone dissenter. The Fed’s decision to keep interest rates at zero is “asking savers to continue to subsidize borrowers,” he told Time magazine. “What incentive is there to save and invest?”

He has been  profiled in major articles in Time Magazine (Feb. 14, 2011) and Bloomberg Businessweek (Sept. 23, 2010), and has been featured in USA Today, The New York Times, and The Wall Street Journal.

Throughout his success, Tom has remained humble in the Benedictine tradition. He has given strong leadership and countless hours to Benedictine, serving on the board of directors for 12 years and as chair for 8 years. He oversaw planning and construction for such key campus additions as the Student Union, the football stadium and track, the Haverty Center renovations, the transformation of Freshman Hall into state-of-the-art Elizabeth Hall, and beautiful St. Scholastica Plaza. In addition, he has taken the time to deliver both a Commencement address and the keynote for the College’s Sesquicentennial Convocation. He co-chaired the successful Investing in Excellence Campaign that brought in more than $70 million to help Benedictine add Mary’s Grotto, build the new Ferrell Academic Center, and more than double the college’s endowment. For all their efforts, he and his wife, Cynthia, were honored with the Cross of the Order of St. Benedict in 2006.

Founded in 1858, Benedictine College is a Catholic, Benedictine, residential, liberal arts college located on the bluffs above the Missouri River in Atchison, Kansas.  The school is proud to have been named one of America’s Best Colleges by U.S. News & World Report as well as one of the top Catholic colleges in the nation by First Things magazine and the Newman Guide.  It prides itself on outstanding academics, extraordinary faith life, strong athletic programs, and an exceptional sense of community and belonging.  It has a mission to educate men and women within a community of faith and scholarship.

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