It has cleared committee and can be brought up at any time, though no date is set.
Finance and Financial SectorAdvisory bodiesBanking and financial institutions regulationFederal Deposit Insurance Corporation (FDIC)
Why This Matters
This bill updates the rules for who can serve on the FDIC Board, aiming to bring in more diverse experiences and limit how long members can serve. It is important for ensuring accountability and fresh perspectives in overseeing bank insurance.
If you work at a smaller bank, this bill could bring more representation and oversight to your industry.
Who this affects
FDIC Board members · banking individuals · smaller banks
What changes is this bill making?
1This bill changes who can be on the Board of Directors of the Federal Deposit Insurance Corporation.
2The President will appoint four members, including one with state bank experience and one from smaller banks.
3Members can only serve two terms and a total of twelve years.
4The Director of the Bureau of Consumer Financial Protection will be a non-voting observer on the board.
