ACB: Press Releases

Contact:	Robert Schmermund (202) 857-3104 Jim Eberle (202) 857-3145	Jim Eberle (202) 857-3145 (work) (703) 893-2593 (home) [email protected]	For Immediate Release November 1, 2005 #05-82
E-mail: [email protected]

ACB STATEMENT ON THE RESIGNATION OF FDIC CHAIRMAN DONALD POWELL

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Statement by Diane Casey-Landry, president and CEO, America’s Community Bankers, on the resignation today of FDIC Chairman Donald Powell:

Chairman Powell came to the FDIC as a community banker and leaves with the gratitude of community banks for understanding their importance to local communities and for looking out for their interests during his tenure at the FDIC.

His understanding of the financial system will serve him well in his new role of overseeing the rebuilding of the hurricane-ravaged areas — an effort that will involve the financial community.

Don has been steadfast in his convictions and very persuasive in his beliefs. For example, he insisted that the Basel II capital accord will not disadvantage community banks, and was a prime mover among the regulatory agencies in developing a proposed update of the existing capital framework. He has also insisted that the Basel II banks must have a minimum capital requirement.

Don is also a stalwart supporter of maintaining the benefits of the dual banking system and has been a consistent and outspoken advocate for legislation to merge the deposit insurance funds to strengthen and provide more stability to the financial system.

We thank him for his service to the industry and look forward to working with him in his new role.

America’s Community Bankers is the national trade association committed to shaping the future of banking by being the innovative industry leader strengthening the competitive position of community banks. To learn more about ACB, visit www.AmericasCommunityBankers.com.

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