FDIC Advisory Committee on Economic Inclusion Gears Up for Next Week’s Meeting
The Federal Deposit Insurance Corporation (FDIC) Advisory Committee on Economic Inclusion (ComE-IN) is preparing for its upcoming meeting on Thursday, November 2, 2023. The committee will be discussing updates from its members regarding the key challenges faced by their communities and organizations. The meeting will cover important topics such as the final Community Reinvestment Act (CRA) rule, research informing the next FDIC multi-year economic inclusion strategic plan, and recent marketplace developments related to bank small-dollar lending programs.
New Members Announced
During this meeting, the FDIC will also welcome two new members to the ComE-IN. Ida Rademacher, Vice President of the Aspen Institute and Co-executive Director of the Aspen Financial Security Program, as well as Marietta Rodriguez, President and CEO of NeighborWorks America, have been appointed as new committee members. Their expertise and experience will bring valuable insights to the committee’s discussions.
The meeting will be webcast live at http://fdic.windrosemedia.com starting at 9:00 a.m., ET. The agenda for the meeting, subject to change, can be found on the FDIC’s website. Any updates to the agenda will be announced at the beginning of the meeting.
What is ComE-IN?
The FDIC Advisory Committee on Economic Inclusion (ComE-IN) was established by the FDIC Board of Directors in November 2006. Its primary purpose is to provide the agency with advice and recommendations on initiatives aimed at expanding access to banking services for underserved populations. The committee consists of experts from various sectors who bring diverse perspectives to the table.
Why is this Meeting Important?
The upcoming meeting of the ComE-IN is crucial for several reasons. Firstly, the discussion on the final Community Reinvestment Act (CRA) rule is significant as it impacts how financial institutions meet the credit needs of their communities, particularly low- and moderate-income areas. This rule plays a vital role in promoting economic inclusion and equitable access to financial services.
Secondly, the research informing the next FDIC multi-year economic inclusion strategic plan is essential for developing effective strategies to address the challenges faced by underserved populations. This plan aims to create opportunities for financial inclusion and economic stability for all individuals and communities.
Lastly, the recent marketplace developments related to bank small-dollar lending programs need to be examined in order to ensure that these programs are functioning responsibly, providing fair access to credit, and not exploiting vulnerable consumers.
Frequently Asked Questions
Q: What is the FDIC Advisory Committee on Economic Inclusion (ComE-IN)?
A: ComE-IN is a committee established by the FDIC to advise and make recommendations on initiatives to enhance access to banking services for underserved populations.
Q: When and where will the next ComE-IN meeting take place?
A: The next ComE-IN meeting will be held on Thursday, November 2, 2023, and can be accessed via live webcast at http://fdic.windrosemedia.com.
Q: Who are the new members of the ComE-IN?
A: The two new members of the ComE-IN are Ida Rademacher, Vice President of the Aspen Institute and Co-executive Director of the Aspen Financial Security Program, and Marietta Rodriguez, President and CEO of NeighborWorks America.
Q: What topics will be discussed during the upcoming meeting?
A: The meeting will cover updates on the final Community Reinvestment Act (CRA) rule, research informing the next FDIC multi-year economic inclusion strategic plan, and recent marketplace developments related to bank small-dollar lending programs.
For more information about the FDIC Advisory Committee on Economic Inclusion (ComE-IN), its members, and its initiatives, visit http://www.fdic.gov/about/comein/.
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