The Federal Deposit Insurance Corp.’s board of directors voted last week to create the FDIC Advisory Committee on Community Banking. Calling community banks the “lifeblood of our nation’s financial system,” FDIC chairman Sheila Bair said the committee “will get direct and frequent input on many issues from a cross-section of community bankers nationwide.”

R. Michael Menzies, chairman of the Independent Community Bankers of America and president and chief executive officer of Easton Bank praised the creation of the committee. In public statement on May 29 he said the group will offer advice on issues such as the “latest examination policies and procedures, deposit insurance assessments and regulatory compliance matters.” Insurance coverage and credit and lending practices will also be on the agenda.

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