FACACLASSIC

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FDIC - 30785 - FDIC Advisory Committee on Economic Inclusion - Agency Authority

GENERAL INFORMATION

Committee Name	FDIC Advisory Committee on Economic Inclusion	Agency Name	Federal Deposit Insurance Corporation
Fiscal Year	2025	Committee Number	30785
Original Establishment Date	11/2/2006	Committee Status	Chartered
Actual Termination Date		Committee URL	http://www.fdic.gov/about/comein/
Actual Merged Date		Presidential Appointments*	No
New Committee This FY	No	Max Number of Members*	25
Terminated This FY	No	Designated Fed Officer Position Title*	Deputy Director of Consumer and Community Affairs
Merged This FY		Designated Federal Officer Prefix	Ms.
Current Charter Date	11/21/2024	Designated Federal Officer First Name*	Elizabeth
Date Of Renewal Charter	11/21/2026	Designated Federal Officer Middle Name
Projected Termination Date		Designated Federal Officer Last Name*	Ortiz
Exempt From Renewal*	No	Designated Federal Officer Suffix
Specific Termination Authority		Designated Federal Officer Phone*	(202) 898-6593
Establishment Authority*	Agency Authority	Designated Federal Officer Fax*	N/A
Specific Establishment Authority*	November 2, 2006, Board Resolution	Designated Federal Officer Email*	elortiz@fdic.gov
Effective Date Of Authority*	11/2/2006
Exempt From EO 13875 Discretionary Cmte	Not Applicable
Committee Type*	Continuing
Presidential*	No
Committee Function*	National Policy Issue Advisory Board

RECOMMENDATION/JUSTIFICATIONS

Agency Recommendation*	Continue
Legislation to Terminate Required	No
Legislation Status	Not Applicable
How does cmte accomplish its purpose?*	The scope and objectives of the Committee are to provide advice and recommendations on initiatives to expand access to banking services for underserved populations. The Committee will review various issues that may include, but not be limited to, basic retail financial services such as low-cost, sustainable transaction accounts, savings accounts, small dollar lending, prepaid cards, money orders, remittances, and other services to promote asset accumulation and financial stability. The Committee, as appropriate, offers advice and recommendations regarding the issues considered through discussions and appropriate motions at open committee meetings.
How is membership balanced?*	Members will be appointed who can effectively represent the varied and diverse interests affected by the issues to be considered. Members will represent a cross-section of interests from the federal government, banking industry, state regulatory authorities, consumer or public advocacy organizations, community-based groups, academia, philanthropic organizations, as well as others impacted by banking-related practices.
How frequent & relevant are cmte mtgs?*	Estimated Number of Meetings per Year – At least 2.
Why advice can't be obtained elsewhere?*	To support the FDIC’s commitment to empirical policy development, the FDIC established the Committee on Economic Inclusion. Information is gathered to assist the agency in evaluating its effectiveness in improving the delivery of financial services to underserved communities and in dealing with the entities it regulates, including the costs and benefits associated with existing regulations and the efficiency of supervisory methods currently employed. The Committee may explore policy options for changes in statutes, regulations, or supervisory practices or procedures that will better secure the public policy goals of delivering financial services more efficiently and at less cost, if possible, to a broader spectrum of individuals while maintaining a safe, competitive and innovative banking system. The advice cannot be obtained through another mechanism because the unique background of the individuals with relevant subject matter expertise who comprise the brought together through the Committee is not replicated elsewhere.
Why close or partially close meetings?	N/A
Recommendation Remarks	The FDIC’s mission is to maintain stability and confidence in the nation’s financial systems, which includes improving banking access. The FDIC has determined that the Committee is essential to the conduct of agency business and in the public interest since it will provide advice and recommendations on initiatives to expand access to banking services for underserved populations. The Committee will review various issues that may include, but not be limited to, basic retail financial services such as low-cost and sustainable transaction accounts, savings accounts, small dollar lending, prepaid cards, remittances, the use of new technologies, and other services to promote access to the mainstream banking system, asset accumulation, and financial stability.

PERFORMANCE MEASURES

Outcome Improvement To Health Or Safety*	No	Action Reorganize Priorities*	No
Outcome Trust In Government	Yes	Action Reallocate Resources	No
Outcome Major Policy Changes	Yes	Action Issued New Regulations	No
Outcome Advance In Scientific Research	No	Action Proposed Legislation	No
Outcome Effective Grant Making	No	Action Approved Grants Or Other Payments	No
Outcome Improved Service Delivery	Yes	Action Other	Yes
Outcome Increased Customer Satisfaction	Yes	Action Comment	N/A
Outcome Implement Laws/Reg Requirements	Yes	Grants Review*	No
Outcome Other	No	Number Of Grants Reviewed	0
Outcome Comment	NA	Number Of Grants Recommended	0
Cost Savings*	Unable to Determine	Dollar Value Of Grants Recommended	$0.00
Cost Savings Comment	NA	Grants Review Comment	NA
Number Of Recommendations*	0	Access Contact Designated Fed. Officer*	No
Number Of Recommendations Comment	In Fiscal Year 2024, the committee did not convey any formal recommendations to the FDIC, however members provided information, analysis, and informal recommendations to the FDIC's staff based on their individual perspectives from their work within their organizations. This feedback is beneficial to the FDIC as it provides an opportunity for collaboration to discuss operational and technical considerations, industry practices, and economic inclusion needs that impact the community at large.	Access Agency Website	Yes
% of Recs Fully Implemented*	0.00%	Access Committee Website	Yes
% of Recs Fully Implemented Comment	N/A	Access GSA FACA Website	Yes
% of Recs Partially Implemented*	0.00%	Access Publications	No
% of Recs Partially Implemented Comment	N/A	Access Other	Yes
Agency Feedback*	Yes	Access Comment	Access to committee information may be obtained from the FDIC Advisory Committee on Economic Inclusion website located at https://www.fdic.gov/about/advisory-committees/economic-inclusion/ and is also available in the FDIC Public Information Center.
Agency Feedback Comment*	At each committee meeting, FDIC staff provides agency feedback information to the Committee members and the public on a variety of issues, including issues raised by the committee members. Minutes are recorded for each meeting and are located at https://www.fdic.gov/about/advisory-committees/economic-inclusion/index.html.	Narrative Description*	The scope and objectives of the Committee are to provide advice and recommendations on initiatives to expand access to banking services for underserved populations. The Committee will review various issues that may include, but not be limited to, basic retail financial services such as low-cost, sustainable transaction accounts, savings accounts, small dollar lending, prepaid cards, money orders, remittances, and other services to promote asset accumulation and financial stability. The Committee, as appropriate, offers advice and recommendations regarding the issues considered through discussions and appropriate motions at open committee meetings.

COSTS

1. Payments to Non-Federal Members*		1. Est Paymnts to Non-Fed Membrs Nxt FY*
2. Payments to Federal Members*		2. Est. Payments to Fed Members Next FY*
3. Payments to Federal Staff*		3. Estimated Payments to Federal Staff*
4. Payments to Consultants*		4. Est. Payments to Consultants Next FY*
5. Travel Reimb. For Non-Federal Membrs*		5. Est Travel Reimb Non-Fed Membr nxtFY*
6. Travel Reimb. For Federal Members*		6. Est Travel Reimb For Fed Members*
7. Travel Reimb. For Federal Staff*		7. Est. Travel Reimb to Fed Staf Nxt FY*
8. Travel Reimb. For Consultants*		8. Est Travel Reimb to Consltnts Nxt FY*
10. Other Costs		10. Est. Other Costs Next FY*
11. Total Costs	$0.00	11. Est. Total Next FY*	$0.00
Date Cost Last Modified	2/19/2025 10:36 AM	Est. Fed Staff Support Next FY*
Federal Staff Support (FTE)*		Est Cost Remarks
Cost Remarks

Interest Areas

Category Area Finance Banking Credit Finance

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