FDIC Watchdog Group Meets Amid Banking Access Concerns

WASHINGTON – While the streets bleed and the fentanyl flows, the Federal Deposit Insurance Corporation (FDIC) is huddling with its Advisory Committee on Economic Inclusion (ComE-IN) next Tuesday, June 4, 2024. The meeting, less a raid and more a roundtable, will focus on the persistent issues of banking access for those left behind – a polite way of saying the system often fails the most vulnerable.

The ComE-IN, established in 2006, isn’t busting down doors or seizing assets. Instead, it’s a panel tasked with advising the FDIC on how to expand banking services to underserved populations. Next week’s session will see members detail the key challenges their communities face, followed by presentations on boosting awareness of deposit insurance, examining the role of Volunteer Income Tax Assistance programs, and tackling the critical shortage of affordable housing in Native American communities. A full agenda is available, though the FDIC warns it’s subject to change – as if bureaucratic shuffling is the biggest threat to financial inclusion.

Adding fresh faces to the mix, the FDIC announced the appointments of two new ComE-IN members: Edward DeMarco, President of the Housing Policy Council in Washington, D.C., and Leigh Phillips, President and CEO of SaverLife, also based in Washington, D.C. Whether these appointments represent a genuine commitment to addressing systemic issues or simply another layer of bureaucratic oversight remains to be seen. The Grimy Times will be watching.

The meeting won’t be happening in a back alley; it’s a public event, webcast live from 9:00 a.m. ET via http://fdic.windrosemedia.com. Citizens can tune in and observe the discussion – though whether their voices will actually be heard by those in power is another question entirely. Don’t expect a high-speed chase; expect a lot of talking.

For those interested in diving deeper into the ComE-IN’s work, a comprehensive overview of the committee, its members, and its initiatives can be found at http://www.fdic.gov/about/comein/. It’s a dense read, but a necessary one if you want to understand the complexities of financial inclusion – or the lack thereof.

Contact for media inquiries: LaJuan Williams-Young at the FDIC, (703) 470-0201. Last updated May 28, 2024. While the FDIC addresses financial inclusion, remember the real crimes happening on the streets, ignored by the system.