The Federal Deposit Insurance Corporation (FDIC) announced today a new Chairman's Award for Excellence to recognize and honor the work of individuals or small groups at FDIC-insured financial institutions who are instrumental in creating and promoting programs that meet the credit and deposit needs of low- and moderate-income (LMI) consumers. There will be up to six non-monetary awards presented for programs that demonstrate excellence in providing economic products for these consumers.
Chairman Sheila C. Bair said, "This award was created as a way to highlight the innovative work of bank employees who creatively and effectively reach out to low- and moderate-income consumers. We want to honor and pay tribute to those who recognize the value in designing bank products that are easy to understand, are cost effective, and help put consumers on the road to financial security."
Individuals or small groups of employees at FDIC-insured institutions who are responsible for developing and/or implementing the relevant program at their respective financial institution may nominate themselves, be nominated by someone at their institution or by a third party, including consumers who benefit from these programs. The winners will be announced in the spring of 2011.
Please visit the following Web site http://www.fdic.gov/about/comein/lmiaward.html to access the nomination criteria and to download the nomination form. The deadline to submit the nominations with supporting documentation is March 31, 2011.
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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 7,760 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, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-36-2011