Philip C. Jackson Jr. became a member of the Board of Governors of the Federal Reserve System on July 14, 1975. He served until his resignation on November 17, 1978.
Jackson was born in Birmingham, Alabama. He attended Birmingham Southern College and the University of Alabama, where he received a bachelor’s degree. From 1949 until he joined the Board of Governors, Jackson worked at the Jackson Company of Birmingham where he became vice president in charge of the mortgage loan department as well as a director.
Jackson was a past president of the Mortgage Bankers Association of America and of the Mortgage Bankers Association of Alabama. He served as an officer or trustee with a number of corporations and institutions, including Huntingdon College of Montgomery, Alabama, the Archeological Research Association of Alabama, and the Methodist Homes for the Aging. Jackson was a contributing author of a textbook, Mortgage Banking. At the time of his appointment to the Board of Governors, he was chairman of the Advisory Committee for the Federal National Mortgage Association, and a member of the board of directors of the Mortgage Bankers Association of America.
During his tenure on the Board of Governors, Jackson had oversight responsibilities for the Board's consumer affairs operations, including the drafting of regulations under the Equal Credit Opportunity Act and the Home Mortgage Disclosure Act. He also had special responsibilities in the areas of bank supervision and regulation, research and statistics, and Reserve Bank activities. In 1978, he initiated a project to simplify and clarify all Board regulations.
After leaving the Federal Reserve, Jackson served as a consultant at Compass Bancshares, Inc. from 1978 to 1980 and as vice chairman of the firm from 1980 to 1989. He was a member of the Protection Oversight Board at Thrift Depositors from 1990 to 1993. Jackson also has been a director of Saul Centers, Inc. since June 1993. He served as a director of Enterprise Products GP LLC from 2005 to 2006. Jackson was also adjunct professor emeritus at Birmingham-Southern College from 1989 to 1999.
Written by the Board of Governors of the Federal Reserve System. See disclaimer.