The Federal Reserve today announced the members of its 2021 Community Depository Institutions Advisory Council, which includes several ABA member bankers. Former ABA Chairman Dorothy Savarese, chairman, president and CEO of Cape Cod Five Cents Savings Bank in Orleans, Massachusetts, will be the council’s president. Seven other ABA member bank CEOs will also serve on the 2021 council.
The CDIAC advises the Fed on the economy, lending conditions and other issues. Members are selected from representatives of commercial banks, thrift institutions and credit unions serving on local advisory councils at the 12 Federal Reserve Banks. One member from each of those councils serves on the CDIAC, which meets twice a year with the Fed board in Washington.