May 18, 2022

FDIC: Hawaiian Banker Named to Minority Depository Institutions Subcommittee

The Federal Deposit Insurance Corporation (FDIC) today announced Russell Lau, the Chairman and Chief Executive Officer of Finance Factors, Ltd in Honolulu, is the newest member of the agency’s Minority Depository Institutions (MDI) Subcommittee to the Advisory Committee on Community Banking. The FDIC’s MDI Subcommittee serves as a source of feedback for FDIC strategies to fulfill its statutory goals for MDIs; provides a platform for MDIs to promote collaboration, partnerships, and best practices; and identifies ways to highlight the work of MDIs in their communities. 

On May 23, 2022, the MDI Subcommittee will meet in open session to share insights into key challenges and opportunities facing their communities and financial institutions and to spotlight MDI strategic planning and succession management activities. FDIC senior staff will also provide an update on the Current Expected Credit Losses methodology and timetable. Following the public meeting, MDI Subcommittee members will provide feedback on the FDIC’s strategies to preserve and promote MDIs to include recent research and the creation of the Office of Minority and Community Development Banking, as well as to receive a briefing on the recent proposed rule regarding the Community Reinvestment Act Modernization. 

Mr. Lau joins the following members on the FDIC’s MDI Subcommittee:

View the public portion of the MDI Subcommittee webcast meeting at 1:00 p.m. EDT on May 23, 2022.  The open portion of this meeting will be available on-demand approximately two weeks after the event. View archived meetings here.

This post was originally published here.