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FDIC’s McWilliams: Banks Vital to Economic Recover

Archived Industry News:FDIC’s McWilliams: Banks Vital to Economic Recovery

Last Updated: 7/30/2020 4:30 PM

FDIC’s McWilliams: Banks Vital to Economic Recovery

Federal Deposit Insurance Corp. Chair Jelena McWilliams kicked off the IBA’s six-month Leaders Speaker Series Wednesday by addressing nearly 200 bankers in attendance. In the hourlong virtual session, McWilliams covered the effects the pandemic has had on banking and the post-pandemic state of banking. She told attendees that, so far, banks have been able to weather the storm caused by the pandemic "remarkably well," and praised banks for their efforts during the pandemic. "Banks are and have been a vital part in making sure the economy gets through this," she said. She also said many challenges lie ahead for the economy and discussed the FDIC's approach to regulation and the changes the organization has made to help banks address challenges caused by the pandemic.

McWilliams invited members of her staff to report on hot topics of interest, such as the Community Reinvestment Act, brokered deposits, the future of bank call reports, and the intersection of financial technology and banking. She also took questions from attendees on how the FDIC will proceed with bank examinations, the current expected credit loss standard and more.

McWilliams closed by assuring attendees that the FDIC will continue to do what it can to make things easier on banks to best serve their customers during the current public health crisis.

The next session of the Leaders Speaker Series will be Aug. 26 with Acting Comptroller of the Currency Brian Brooks. Registration is still open for the series, and attendees will receive recordings of each session, including this week’s session with McWilliams.

Register for the Leaders Speaker Series.

Aug. 26: Acting Comptroller of the Currency Brian Brooks, 10 a.m.
Sept. 23: Peter Zeihan, Global Strategist, 10 a.m.
Oct. 22: Charlie Cook, Cook Political Report, 10 a.m.
Nov. 23: Chicago Fed President Charles Evans, 2 p.m.
Dec. 10: Business leaders panel with CEOs from Ruan Transportation, Mercy Health Network, Corteva Agriscience and Vermeer Corp., 10 a.m.

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