Financial Times FT.com

US downturn

US bank regulator hires crisis experts

By Joanna Chung in Washington

Published: April 8 2008 22:32 | Last updated: April 8 2008 22:32

A US bank regulator is recruiting retirees who worked during the savings-and-loan crisis of the 1980s and 1990s as it seeks to boost staff ahead of an expected increase in bankruptcies.

The Federal Deposit Insurance Corporation (FDIC) is planning to increase numbers by about 60 per cent at the division that handles depository bank closures.

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