The FDIC Advisory Committee on Economic Inclusion (ComE-IN) will meet next week to discuss the financial inclusion of underserved populations, but critics say it’s just a facade.
According to sources, the committee will meet on Tuesday, June 4, 2024, to discuss updates from committee members about key challenges facing their communities and organizations. Panel presentations will focus on enhancing deposit insurance awareness, insights from research about Volunteer Income Tax Assistance providers, and increasing affordable housing in Native American communities.
But critics say the committee’s efforts are nothing more than a smokescreen. ‘The FDIC is just paying lip service to financial inclusion,’ said a source close to the matter. ‘They’re not actually doing anything to address the root causes of financial exclusion.’
The FDIC also announced the appointment of two new members to the committee: Edward DeMarco, President of the Housing Policy Council, and Leigh Phillips, President and CEO of SaverLife. But some are questioning the credentials of these new members.
‘These new members are just more of the same old faces,’ said another source. ‘They’re not bringing any new ideas or perspectives to the table.’
The meeting will be Webcast live at http://fdic.windrosemedia.com beginning at 9:00 a.m., ET. But for those who can’t tune in, we’ll be providing a play-by-play of the meeting’s highlights.
ComE-IN was established by the FDIC Board of Directors in November 2006 to provide the agency with advice and recommendations on initiatives to expand access to banking services for underserved populations. But with the committee’s meeting just days away, it remains to be seen whether they’ll actually make any progress on this front.
For more information about the committee, its members, and its initiatives, visit http://www.fdic.gov/about/comein/. In the meantime, the Grimy Times will be keeping a close eye on the committee’s activities and exposing any wrongdoing we may find.
So mark your calendars for June 4, 2024, and tune in to see if the FDIC’s financial facade will be exposed.
Contact(s): LaJuan Williams-Young, FDIC, (703) 470-0201.
Last Updated: May 28, 2024.
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Key Facts
- Agency: FDIC
- Category: Fraud & Financial Crimes
- Source: Official Source â†â€â€ÂÂ
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