FDIC ANNOUNCES FIRST ADVISORY COMMITTEE ON BANKING POLICY
MEETING FOR NOVEMBER 13
FOR IMMEDIATE RELEASE PR-98-2002 (9-23-2002)
Media Contact: Rosemary George (202) 898-6530
Stressing his desire for transparency in conducting the business of government, FDIC Chairman Don Powell today announced that the FDIC Advisory Committee on Banking Policy will hold its first meeting on November 13.
The meeting, which is open to the public, will be held at the FDIC's Washington headquarters.
In announcing the policy committee meeting, Chairman Powell said: "We're bringing together some of the finest minds and some of the most experienced decision-makers in America -- from business, from banking, from academia -- to explore not only how the Federal Deposit Insurance Corporation can improve its effectiveness and efficiency, but also how best to shape the future of financial services in this country. And we will be deliberating in public."
The committee members are:
Sheila C. Bair, Distinguished Scholar, the Center for Public Policy and Administration, University of Massachusetts
Jean Becker, Chief of Staff, Office of President George H.W. Bush
Andrew B. Craig, III, Retired Chairman, NationsBank Corporation (now Bank of America)
Rev. Dr. Floyd H. Flake, Senior Pastor, Greater Allen A. M.E. Cathedral of New York
Richard R. Hollington, Jr., Lead Director, Sky Financial Group Inc., and Senior Partner, Baker & Hostetler
Terry J. Jorde, President/Chief Executive Officer, CountryBank USA
Gray D. Lindsey, Senior Vice President, Management Services, and Chief Financial Officer, Coca-Cola North America
John G. Medlin, Jr., Chairman Emeritus, Wachovia Corporation
Louise M. Parent, Executive Vice President and General Counsel, American Express Company
Roger B. Porter, IBM Professor of Business and Government, Harvard University
Dennis D. Powell, Senior Vice President, Corporate Finance, Cisco Systems, Inc.
John T. Sinnott, Chairman and Chief Executive Officer, Marsh, Inc.
"In breadth of vision, there is no other group like this in America," FDIC Chairman Powell said in announcing the members of the Committee. "We will have the views of a banker from a $35 million asset community bank -- as well as the views of the former chairmen of two of the largest institutions in the country. We will benefit from the wisdom of the Rev. Floyd Flake, who has embodied the spirit of service in his pulpit, in his community, and in the U.S. Congress. Sheila Bair and Roger Porter have, in different ways, both experienced and deeply thought about the nexus of government and business, while the seasoned business people who have agreed to serve on our committee can advise us on risk assessment, technology, operations -- in short, they can speak to every feature of our organization. In serving the FDIC, all the members of this committee will be serving all of America."
The committee will convene at 9:00 a.m. on November 13 at 550 17th St., N.W., in Washington, D.C.
Biographies of the committee members are attached.
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 9,480 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars-insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov or through the FDIC's Public Information Center (800-276-6003 or (703) 562-2200).