April 10, 2014
Illinois Senator Mark Kirk joined with a bipartisan group of United States Senators in a letter to President Obama urging that the next Federal Reserve Board nominee have a background in community banking or community bank supervision. Community banks serve a vital role in the nation’s economy, and CBAI believes that the next Fed nominee should be someone who understands the community bank perspective.
The letter to the President stated, “Nominating an individual with community banking or supervisory experience would ensure that future Federal Reserve actions and regulations are tailored to reflect the nuanced understanding of the regulatory and economic environment faced by community banks, and that the role that these institutions play in their communities and in our financial system is not diminished.”
CBAI thanks Senator Kirk for supporting the effort to add community banking experience to the Fed Reserve Board. Read Letter.