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C. C. Hope Jr.; FDIC Board Member

Associated Press

C. C. Hope Jr., a board member of the Federal Deposit Insurance Corp. and a former banker and educator, has died of pneumonia. He was 73.

Hope’s death Monday in his hometown of Charlotte, N.C., creates the second vacancy on the five-member board of the agency, which insures the deposits of the nation’s banks and savings institutions up to $100,000 per account. FDIC Chairman William Taylor died in August.

A Democrat, Hope was appointed to the FDIC in 1986 by Ronald Reagan to fill the minority seat on what was then a three-member board.

Hope adopted a low-key approach and was known for humor and tact while the board labored to cope with a flood of failures that became the worst crisis of the banking system since the Great Depression.

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Despite his former banking profession, he sided against the industry in May when the board voted 3 to 2 to raise the insurance premiums it charges banks in order to replenish its insurance fund.

President Clinton has not yet announced his Administration’s choices for the five FDIC board seats.


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