FOR IMMEDIATE RELEASE
ICBA Statement on Senate Banking Committee Approval of Janet Yellen for Federal Reserve Chairman
Washington, D.C. (Nov. 21, 2013)—Bill Loving, Independent Community Bankers of America® (ICBA) 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 Senate Banking Committee’s vote in favor of the nomination of Federal Reserve Vice Chair Janet Yellen for Federal Reserve Board chairman.
“ICBA congratulates Dr. Yellen on the Senate Banking Committee’s vote advancing her nomination for Federal Reserve Board chairman. She has practical, on-the-ground regulatory and administrative experience and is a strong choice for Fed chairman.
“From her time as president of the Federal Reserve Bank of San Francisco, Dr. Yellen has demonstrated an understanding of community banks and their unique, relationship-based business model. As one of the nation’s most accomplished economists, Dr. Yellen also surely appreciates the role community banks play in the economic growth and stability of communities across the nation. Should Dr. Yellen be confirmed by the Senate, ICBA looks forward to continuing to work with her as Fed chairman.”
The Independent Community Bankers of America®, the nation’s voice for nearly 7,000 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit www.icba.org.