The Federal Reserve Bank of Boston has appointed 12 members, including several local bank executives, to an advisory council formed in response to new regulations.
Each Federal Reserve Bank across the country is establishing a First District Community Depository Institutions Advisory Council (CDIAC) in response to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The councils will represent the perspective of smaller financial institutions and provide input on the economy and lending conditions, among other issues, according to a statement.
The First District’s 12 CDIAC members represent commercial banks, thrift institutions and credit unions with assets less than $10 billion. Members, who are from each of the six New England states, will meet three times annually.
The following members were appointed:
- James W. Blake, president/CEO, HarborOne Credit Union, Brockton
- Tom Caron, president/CEO, Bank of Easton, North Easton
- Jane Walsh, president/CEO, Northmark Bank, North Andover
- Bill Stapleton, president/CEO, Northampton Co-Operative Bank, Northampton
- Christopher Oddleifson, president/CEO, Rockland Trust Co., Rockland
- John J. Dwyer, Jr., president/CEO, New England Federal Credit Union (NEFCU); Williston, Vt.
- Michael L’Ecuyer, president/CEO, Bellwether Community Credit Union; Manchester, N.H.
- Gregg R. Tewksbury, president/CEO, Savings Bank of Walpole; Walpole, N.H.
- Peter Judkins, president/CEO, Franklin Savings Bank; Farmington, Maine
- Joseph J MarcAurele, president/CEO, Washington Trust; Westerly, R.I.
- Merrill Sherman, president/CEO, Bank Rhode Island; Providence, R.I.
- Gregory Shook, president/CEO, Essex Savings Bank; Essex, Conn.
Stapleton will serve as District One’s representative to the national CDIAC, which will meet twice a year to advise the Federal Reserve Board in Washington, D.C., according to a statement. The Federal Reserve Board announced in October it was forming the CDIAC to replace the Thrift Institutions Advisory Council.
The first meeting of the District One CDIAC will be held on March 1.
