Richard Osterman is currently serving as Acting General Counsel of the Federal Deposit Insurance Corporation (“FDIC”).
Osterman is the Deputy General Counsel for the Litigation and Resolutions Branch in the Legal Division of the FDIC. The Branch provides litigation counsel for FDIC and comprehensive legal support for FDIC’s resolution and receivership functions. Osterman has served as Assistant General Counsel for the General Litigation Section which includes Appellate Litigation, Corporate Litigation and Commercial Litigation. Prior to that time, he was the Assistant General Counsel for the Receivership Operations and Litigation Section, which included Professional Liability, Financial Crimes, and the Receivership Operations and Policy. He worked extensively on the Federal Deposit Insurance Reform Act and was a primary legal contact for implementation of the law. In addition, Osterman has served in various areas of the Legal Division including supervision, legislation and litigation.
Before joining the FDIC, Osterman was in the Litigation Section of the Federal Home Loan Bank Board where he represented the Bank Board on regulatory matters and supervised complex commercial litigation and professional liability actions. Prior to that time, Osterman was at the Interstate Commerce Commission. There he specialized in administrative law and appellate litigation as a member in the Commission’s Office of General Counsel and also served as a staff advisor to one of the Commissioners.
Osterman received his B.A. from Swarthmore College and his J.D., cum laude, from the University of Baltimore School of Law. He is a member of the Maryland Bar, the bars of several United States Courts of Appeals and the United States Supreme Court.