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ICBA Applauds Duke’s Confirmation as a Federal Reserve Governor

Community Banker Will Provide the Board Valued Banking Experience

Washington, D.C. (June 30, 2008)—Camden R. Fine, president and CEO of the Independent Community Bankers of America (ICBA), issued the following statement on Senate confirmation of the nomination of Elizabeth (Betsy) A. Duke as a member of the Board of Governors of the Federal Reserve System:

"ICBA and the nation's community bankers are exceptionally pleased that a community banker such as Betsy Duke will serve on the Federal Reserve Board. Her experience as a community banker will provide the Federal Reserve Board with a fresh new voice and extraordinarily valuable real-world understanding of America's Main Street economies and small businesses."

"Given the Federal Reserve's tremendous influence on the nation's banking system, monetary policy and economy, ICBA looks forward to working with Governor Duke on a wide range of issues. We thank President Bush for nominating Ms. Duke to serve, and the U.S. Senate in acting to approve her nomination."