FDIC renews economic inclusion advisory panel’s charter

Renewal of the charter for a panel that advises the federal bank deposit insurer on economic inclusion “is in the public interest in connection with the performance of duties” of the agency, the agency says in a notice published Monday in the Federal Register.

The Federal Deposit Insurance Corp. (FDIC), in the notice, says the Advisory Committee on Economic Inclusion “has been a successful undertaking by the FDIC and has provided valuable feedback to the agency on important initiatives focused on expanding access to banking services for underserved populations.”

FDIC says the panel will continue to provide advice and recommendations for such initiatives, reviewing issues that may include (but are not limited to) basic retail financial services such as low-cost, sustainable transaction accounts, savings accounts, small dollar lending, prepaid cards, money orders, remittances, the use of new technologies, and other services to promote access to the mainstream banking system, asset accumulation, and financial stability.

Notice of renewal of the FDIC Advisory Committee on Economic Inclusion