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Press Release
James Madison University College of Business Wins FDIC’s 2nd Annual Academic Challenge
Undergraduate team selected for examination of the impact of COVID-19 on U.S. banks

For Release

Academic Challenge

WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today announced a four-member team of undergraduate students from James Madison University College of Business won the agency’s Second Annual FDIC Academic Challenge , a competition among university and college students concerning the U.S. banking sector.

The FDIC selected JMU students Noah Vanhoy, Sara Kate Garman, Emelia Potteiger, and Nicolas Gonzalez as recipients of the FDIC 2021-2022 Academic Challenge recognition.  Led by faculty advisor Carl Larsson, the team presented a thoughtful examination on the impact of the COVID-19 pandemic on the banking sector.

In addressing the student teams, Diane Ellis, Director of FDIC’s Division of Insurance and Research said, “The Academic Challenge is part of our engagement with the academic community on topics of mutual interest. We hope that you are inspired to continue your studies of economics, finance, accounting, law, or other fields that offer you a valuable perspective on banking and financial sector supervision.”

The FDIC also recognized the other finalist teams: the University of Chicago Kenneth C. Griffin Department of Economics; SUNY Geneseo School of Business; the University of Oregon Lundquist College of Business; and the University of North Carolina at Chapel Hill Economics Department.

The FDIC’s Center for Financial Research hosted the 2021-2022 Academic Challenge, which consisted of two rounds.  In the first round of the competition, teams of undergraduate students used multiple public data sources to prepare a written submission that examined the effects of the COVID-19 pandemic on the banking sector and highlighted the areas of greatest importance for regulators to consider. In the second round, finalist teams presented their findings and answered questions from a panel of judges who work in the areas of banking and bank supervision.

Last Updated: April 11, 2022