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ADVOCACY UPDATE

Letter to the White House on FDIC Director Nominees

2/1/2019

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On January 30, Congressman Loudermilk sent the attached letter to the White House regarding upcoming nominations to the FDIC Board of Directors. Congress amended the Federal Deposit Insurance Act in 1996 to require that at least one of the three independent members of the FDIC Board have experience as a state bank regulator. However, there has not been such a person on the FDIC Board since 2012. There are currently two seats open on the FDIC Board, and according to recent news reports, Senators have recommended two potential nominees to the White House- but neither of them fulfill the state bank regulation experience requirement. The letter asks the White House to ensure that at least one of its upcoming nominees to the FDIC Board has experience as a state bank regulator as required by federal law. The letter was cosigned by 14 other bipartisan members of the Financial Services Committee: Reps. Denny Heck (D-WA), Peter King (R-NY), Jim Himes (D-CT), Frank Lucas (R-OK), Steve Stivers (R-OH), Scott Tipton (R-CO), Tom Emmer (R-MN), Lee Zeldin (R-NY), Alex Mooney (R-WV), Ted Budd (R-NC), David Kustoff (R-TN), Trey Hollingsworth (R-IN), John Rose (R-TN), and Denver Riggleman (R-VA).

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    Author
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    Lori Godfrey
    EVP, Chief of Staff, Government & Regulatory Relations
    Lori represents and protects the interests of community banks during Georgia’s General Assembly, calls on banks throughout the year, oversees the Association’s PAC/PR fundraising efforts and assists with our Banker Regulatory Forums.

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Member ICBA
  • About CBA
    • About CBA
    • Board of Directors
    • CBA Committees
    • Our Team
    • Remembering Julian Hester
    • Directions to Our Office
    • Contact
  • Membership
    • Membership Overview
    • Member Login
    • Member Directory >
      • Bank Listing Update
    • Associate Member Directory >
      • Associate / Endorsed Member Listing Update
    • Endorsed Member Companies
    • Associate Member Benefits & Application
    • Member Benefits
    • Leadership Division Membership >
      • Board of Directors
      • Rally Around the Bell
  • Professional Development
    • CBA University >
      • Programs by Functional Category
      • Calendar
      • Webinar Series
      • Archived Webinars
      • Barret School of Banking
      • Compliance Program >
        • Compliance Program Survey
      • Women in Banking
      • The Community Bank Leadership Academy
      • Compliance Resources
      • Cancellation Policies & Facility Maps
      • Speakers
      • Venue Availability
      • Southeastern Community Bankers Association
    • Conventions/Events >
      • Annual Convention & Mini-Trade Show
      • LEAD Convention >
        • LDC Survey
      • Banker Regulatory Forum >
        • Banker Regulatory Forum Questions
      • Grass Roots Day at the Dome
      • Spring Regional Luncheon Meetings
      • PAC/PR Fundraising Events >
        • PAC/PR Clay Shoot
      • Call for Presentations
  • Communications
    • Communications Overview
    • Advertising Opportunities
    • Sponsorship Opportunities
    • Monthly Marketing Toolkit >
      • November- Value of the Community Bank
    • Georgia Communities First Magazine
    • Julian & Jan Hester Scholarship
    • Walraven Scholarship
    • eNewsletter - CBA Today
    • Lifetime Service Awards
  • Advocacy
    • Legislative Updates and Alerts
    • Advocacy Update
    • Priority Legislation SB 157 >
      • SB 157 Survey
    • Locate Your Legislator
    • CBA's PAC/PR Fund >
      • Corporate Donations
      • Individual Donations
    • ICBA Plan for Prosperity
  • Resources
    • CBA Career Center
    • CBA Legal Hotline
    • Custom Print-on-Demand Store
    • Georgia Financial Directory
    • ICBA
    • Salary Survey
    • Financial Literacy
    • Useful Websites
    • USDA and SBA Disaster Support
    • FDIC Regulatory Calendar
    • CBA Privacy Policy