Community bank council gets nod for renewed charter by deposit insurer

Just in time for the group’s meeting this week, the charter of the Community Bank Advisory Committee (CBAC) to the federal insurer of bank deposits has been recommended for renewal by the agency’s board chairman.

In a notice scheduled to be published in the Federal Register Tuesday, the Federal Deposit Insurance Corp. (FDIC) said the committee (which was established in 2009 to provide the agency “with advice and guidance on a broad range of important policy issues impacting small community banks throughout the country, as well as the local communities they serve, with a focus on rural areas”) has been “a successful undertaking by the FDIC,” according to a finding by FDIC Board Chairman Jelena McWilliams.

The current CBAC is scheduled to meet Tuesday at 9 a.m., gathering at FDIC headquarters in Washington, D.C., for an all-day meeting. On the agenda: an update on various supervisory policy issues and the FDIC Subcommittee on Supervision Modernization, as well as a briefing for committee members on minority and community development financial institutions, Money Smart financial education materials, and de novo institutions – and more.

In the future, the agency said, with a renewed charter the committee will continue to review various issues that may include pretty much what it has focused on in the past: examination policies and procedures, credit and lending practices, deposit insurance assessments, insurance coverage, and regulatory compliance matters to promote “the continued growth and ability of community banks to extend financial services in their respective local markets.”

The agency also noted that the committee’s structure and responsibilities have also stayed pretty much the same since the committee was formed in 2009.

FDIC Advisory Committee on Community Banking; Notice of Charter Renewal

Be the first to comment

Leave a Reply

Your email address will not be published.