October 1, 2015
The Consumer Financial Protection Bureau (CFPB) named Sunrise Banks CEO, David Reiling, as Vice Chair of its Community Bank Advisory Council (CBAC). Reiling will serve under the newly appointed Chair Guillermo Diaz-Rousselot.
Per the Dodd-Frank Act, the purpose of the CFPB is to “supervise depository institutions and credit unions with total assets of more than $10 billion and their respective affiliates.” To ensure the “unique perspectives” of those depository institutions with less than $10 billion in assets are shared with the Bureau, the CFBP created the Community Bank Advisory Council. According to the Community Bank Advisory Council’s charter, this ensures that an “interactive dialogue and exchange of ideas and experiences between community bankers and Bureau staff” are shared.
“The experience of this past year on the Community Bank Advisory Council has been more than rewarding,” says Reiling, “I am honored to be asked to serve as the CBAC Vice Chair and look forward to engaging with the Bureau to communicate the impact of regulations on community banks as well as the customers and communities they serve.”
Reiling will be joined on the Community Bank Advisory Council by the following new appointees:
- Jonathan T. Allen, Chief Compliance Officer, Bank of American Fork, American Fork, Utah
- Kathleen J. Cook, President and Chief Executive Officer, The Village Bank, Saint Libory, Ill.
- Julia R. DeBery, Senior Vice President, Internal Audit and Risk Management, Bath Savings Institution, Bath, Maine
- Jack E. Hopkins , President and Chief Executive Officer, CorTrust Bank, Sioux Falls, S.D.
- Ricardo ‘Ricky’ D. Leal, Community Lender and Senior Vice President, First Community Bank, N.A., Harlingen, Texas
- Cara L. Quick, Vice President of Compliance, First Hope Bank, N.A., Hope, N.J.
- Thomas E. Spitz, Chief Executive Officer, Settlers Bank, Windsor, Wis.
- Yee Phong (Alan) Thian, President and Chief Executive Officer, Royal Business Bank, Arcadia, Calif.
- Samuel Vallandingham, President and Chief Executive Officer, First State Bank, Barboursville, W.Va.
About Sunrise Banks: Sunrise Banks, N.A., based in St. Paul, Minnesota, seeks to radically change the way urban communities and people thrive by empowering them to achieve financial wellness. Sunrise is certified by the U.S. Treasury as a Community Development Financial Institution (CDFI), a designation earned by approximately 100 banks nationwide. Sunrise Banks is also a member of the Global Alliance for Banking on Values, a public benefit corporation and is a certified B Corp for its demonstrated commitment to transparent corporate governance and positive community impact. Visit Sunrise Banks at SunriseBanks.com, on Twitter @SunriseBanks, or on Facebook. Member FDIC.