Membership Balance Plan for the

FDIC Advisory Committee on Economic Inclusion

(1) Name: FDIC Advisory Committee on Economic Inclusion (the “Committee”).

(2) Authority: Discretionary committee established under agency authority.

(3) Mission/Function: The Committee is charged with providing 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, remittances, the use of new technologies, and other services to promote access to 

the mainstream banking system, asset accumulation, and financial stability.

(4) Points of View: The groups/entities represented on the Committee in order to achieve a 

fairly balanced membership shall represent a wide range of views, such as 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. No Special Government Employees are expected to be 

on the Committee; the Committee will be comprised exclusively of representatives of the abovedescribed groups. However, membership balance is not static and may change, depending on the 

work of the Committee. The number of Committee members shall not exceed twenty-five.

(5) Other Balance Factors: In order to achieve balance on the Committee, the FDIC may 

consider the following factors, among others: the geographic location of candidates; the 

importance of including regional, state, or local government expertise; the impact on specific 

communities; and diversity in the candidates’ work sectors.

(6) Candidate Identification Process: Senior level FDIC staff, including one or more 

representatives from the Chairman’s office, will be involved in determining balance on the 

Committee, recommending the most qualified individuals and reviewing applications. The 

Chairman of the FDIC will make the final selections. When deemed necessary, the FDIC may 

allow individuals to apply for membership on the committee and/or seek nominations or 

recommendations from existing advisory committee members, banking industry representatives, 

consumer or community groups, other state or Federal government agencies, academia, or 

members of the public, in seeking to achieve an appropriate balance on the Committee. 

Committee members will serve for three-year terms, which may be renewed by the FDIC. Any 

vacancies on the Committee will be filled as soon as practicable using the process noted above.

(7) Subcommittee Balance: The process for assuring the appropriate balance on any 

subcommittee shall be the same process for the full Committee, as outlined above.

(8) Other: Appointments will be made without discrimination on the basis of age, race, 

ethnicity, religion, gender, or sexual orientation.
(9) Date Prepared/Updated: Initially prepared on December 22, 2010; updated on December 

18, 2012; updated on December 18, 2014; updated on December 8, 2016; updated on 

December 4, 2018; updated on December 2, 2020, and updated on December 2, 2022. 

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