September 8, 2014
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.
“I am honored and humbled to be appointed to the CFPB’s Community Bank Advisory Council”, says Reiling. “This is a great opportunity to share the real life needs of our underserved communities.
I look forward to CBAC’s dialogue about the challenges financial institutions like Sunrise Banks face in developing innovative solutions for underserved communities.” Joining Reiling as new appointments on the Community Bank Advisory Council include:
- Michael Gallagher, Senior Vice President, Risk Management Director, Enterprise Bank & Trust Company, Lowell, Mass.
- Paul Mackin, President and Chief Executive Officer, Think Mutual Bank, Rochester, Minn.
- Lynda Messick, President and Chief Executive Officer, Community Bank Delaware, Lewes, Del.
- John Motley, President, Colonial Savings, Fort Worth, Texas
- Monica Thomas, Executive Vice President, Illinois Service Federal, Chicago, Ill.
- Christopher Triplett, President, Chief Executive Officer and Chief Financial Officer, Newport Federal Bank, Newport, Tenn.
- Kathryn Underwood, President and Chief Executive Officer, Ledyard National Bank, Hanover, N.H.
About Sunrise Banks: Sunrise Banks, N.A., based in St. Paul, Minnesota, strives to be the most innovative bank empowering 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 a certified B Corp for its demonstrated commitment to transparent corporate governance and positive community impact. Learn more at SunriseBanks.com, on Twitter @SunriseBanks, or on Facebook. Member FDIC.