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FDIC Announces Members for the Advisory Committee on Community Banking
The Federal Deposit Insurance Corporation (FDIC) today announced the selection of 14 members for its Advisory Committee on Community Banking, which was established by the FDIC Board of Directors in May. The Advisory Committee members represent a cross-section of community bankers from around the nation, including a member from academia. The Advisory Committee will provide the FDIC with advice and recommendations on a broad range of policy issues that have particular impact on small community banks from around the nation, the local communities they serve, with a focus on rural areas.
"The financial crisis has had a significant impact on community banks. These banks are essential to the fabric of our country's financial system through their support of business lending and service to the needs of local economies," said FDIC Chairman Sheila Bair. "I look forward to working with the Advisory Committee members on this important endeavor to get valuable contributions and viewpoints to help community banks—large and small—to continue to weather the challenging business environment."
The 14 individuals selected for the Advisory Committee represent a full spectrum of interests and perspectives on community banking. The FDIC received more than 200 applications from interested individuals to participate on the committee.
The committee's first meeting is scheduled for Thursday, October 15, 2009, at FDIC headquarters in Washington, D.C. The committee will meet at least two times a year with Members serving a two-year term. Paul Nash, Deputy to the FDIC Chairman for External Affairs, will serve as the Designated Federal Official for the Advisory Committee.
For more information on the Advisory Committee on Community Banking, please visit the FDIC's Web site at http://www.fdic.gov/communitybanking/.
The Advisory Committee members are:
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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 8,195 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-173-2009
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