The Consumer Financial Protection Bureau has selected nine community bankers to advise and consult with the bureau on a variety of consumer financial issues. The new roster of community bankers will serve a two-year term on the council.
The CFPB supervises depository institutions with more than $10 billion in assets. The bureau does not have supervisory authority, however, over depository institutions with less than $10 billion in assets. “The CFPB does not have regular contact with these institutions, and it would therefore be beneficial to create a mechanism to ensure that their unique perspectives are shared with the Bureau,” the bureau said in the charter for the community bank advisory council. “The Advisory Council fills this gap by providing an interactive dialogue and exchange of ideas and experiences between community bankers and Bureau staff.”
The bankers selected for the council are:
● Angela Beilke, vice president, mortgage department, American Bank & Trust, Davenport, Iowa
● Michael Gallagher, senior vice president, risk management director, Enterprise Bank & Trust Company, Lowell, Mass.
● Paul Mackin, president and chief executive officer, Think Mutual Bank, Rochester, Minn.
● Lynda Messick, president and chief executive officer, Community Bank Delaware, Lewes, Del.
● John Motley, president, Colonial Savings, Fort Worth, Texas
● David Reiling, chief executive officer, Sunrise Banks, Minneapolis, Minn.
● Monica Thomas, executive vice president, Illinois Service Federal, Chicago, Ill.
● Christopher Triplett, president, chief executive officer and chief financial officer, Newport Federal Bank, Newport, Tenn.
● Kathryn Underwood, president and chief executive officer, Ledyard National Bank, Hanover, N.H.
A list of the bankers on the previous council can be found here.
The CFPB’s CBAC has not held a meeting since October 2013; there are no CBAC meetings scheduled on the bureau’s website.
The CFPB also announced the new members of its consumer advisory board, who will serve for a three-year term. They are:
● Ann Baddour, Senior Policy Analyst, Texas Appleseed, Austin, Texas
● Julie Gugin, Executive Director, Minnesota Homeownership Center, St. Paul, Minn.
● Brian Longe, Chief Executive Officer, Wolters Kluwer Financial & Compliance Services, Minneapolis, Minn.
● Joann Needleman, Vice President, Maurice & Needleman, P.C., Flemington, N.J.
● J. Patrick O’Shaughnessy, President and Chief Executive Officer, Advance America Inc., Spartanburg, S.C.
● Gene Spencer, Senior Vice President, Stakeholder Engagement, Policy and Research, Homeownership Preservation Foundation, Minneapolis, Minn.
● James Van Dyke, Founder and Chief Executive Officer, Javelin Strategy & Research LLC, Pleasanton, Calif.