FDIC renews charter for Advisory Committee on Economic Inclusion

A charter for a group that advises the federal deposit insurance agency on economic inclusion was renewed Dec. 3 for another two years, according to a notice filed with the Federal Register.

The Advisory Committee on Economic Inclusion, first established n 2006, advises the Federal Deposit Insurance Corp. (FDIC) on initiatives to expand access to banking services by underserved populations. Its last meeting was in October, when the agency released results of its 2019 Household Survey of the Underbanked.

In the charter renewal notice, the FDIC said the committee “will continue to review various issues that may include, but not be 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