A San Francisco Bank Preempts OCC on News of Advisory Panel

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Gateway Bank's Jeffrey Cheung has joined a committee of (at least so far) one.

The chief executive of the San Francisco bank was very proud to have been named to the Office of the Comptroller of the Currency's new Minority Depository Institutions Advisory Committee  -- so proud, it seems, that his bank put out a press release about the appointment before the OCC was ready to go public with its own announcement disclosing the makeup of the committee.

So at press time, it was a mystery as to who the other members would be. But there are only 181 MDIs, in case that helps to narrow things down.

According to Gateway Bank, a $247 million-asset thrift, committee members will serve a two-year term and will convene at least twice a year to advise the OCC. Cheung says Gateway is one of only 14 remaining minority thrift institutions in the country, putting him in a unique position to offer input to the agency.

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