Oct 9 - Bill Loving, Independent Community Bankers of America chairman and president and CEO of Pendleton Community Bank, Franklin, W.Va., and Camden R. Fine, ICBA president and CEO, released this statement following the nomination of Federal Reserve Vice Chair Janet Yellen for Federal Reserve Board chairman.
“ICBA congratulates Dr. Yellen on her nomination for Federal Reserve Board chairman. She’s a strong choice for Fed chairman as she brings practical, on-the-ground regulatory and administrative experience to the chairmanship from her time as president of the 12th Federal Reserve Bank in San Francisco.
“Dr. Yellen understands community banks from the ground level and has an appreciation for the unique business model of community banks and the valuable role they play in the growth and economic vitality of the communities they serve. She also brings unimpeachable credentials as one of this nation’s most outstanding economists. Should Dr. Yellen be confirmed by the Senate, ICBA looks forward to working with her on the very real challenges facing the community banking industry.”