Reichert, Rudolph E. (Rudolph Edward), 1887-1965

Ann Arbor, Michigan banker and commissioner of the Michigan Banking Department.

From the description of Rudolph Edward Reichert papers, 1907-1962. (University of Michigan). WorldCat record id: 34419703

From the description of Rudolph Edward Reichert papers, 1907-1965. (University of Michigan). WorldCat record id: 85778174

Rudolph E. Reichert was born November 13, 1887 near Ann Arbor, Michigan. After attending public schools in Ann Arbor, he became a messenger for the Farmers & Mechanics Bank in 1904. He was associated briefly with the American Savings Bank of Lansing, then returned to Ann Arbor in 1911 to assume the position of assistant cashier and director of the German-American Savings Bank, which was later consolidated with the State Savings Bank.

In 1923, Reichert became cashier of he State Savings Bank of Ann Arbor, a position he held until 1927 when he was appointed banking commissioner of Michigan by Governor Fred W. Green. He held this position through the terms of Governors Green, Brucker, Comstock, and Fitzgerald. He served as banking commissioner during the "bank holiday" in 1932, and wrote the Reorganization Banking Law which was adopted in 1933 by Michigan and several other states to avoid recurrence of the banking crisis. He also helped to draft the congressional act that established the Federal Deposit Insurance Corporation.

In 1935, Reichert was elected president of the National Association of Supervisors of State Banks. In 1936, following his service as banking commissioner, Reichert returned to Ann Arbor where he became a founder and first president of the Ann Arbor Savings & Commercial Bank. He served as president until 1960 when he was name chairman of the board. He retired from that position in 1962.

In 1943, Reichert was named director of the Detroit Branch of the Federal Reserve Bank of Chicago, and he served in that capacity for six years. He also served as president of the Michigan Bankers Association 1944-1945.

Reichert died December 22, 1965.

From the guide to the Rudolph E. Reichert Papers, 1907-1962, (Bentley Historical Library University of Michigan)