But DC's Got a Lot More Traffic than Raleigh

North Carolina's Chief Deputy Commissioner of Banks Mark Pearce is headed to Washington. The FDIC announced Tuesday that he has been named Director of the new Division of Depositor and Consumer Protection (DCP). He had been Commissioner of Banks Joseph A. Smith Jr.'s deputy since 2006, where he focused on foreclosure, foreclosure prevention and non-depository lending. DCP was created in August as part of the Dodd-Frank Act, and no doubt the FDIC and Pearce will get right to work.