For more information, consult the online documentation mentioned in step 4. Please read this documentation before attempting to further customize your list. One easy customization is the list description at the top of the list configuration, where you are in step 4. Enter a short, four to five word, list description. While seemingly more convenient this feature is very problematic and puts the list and the subscribers at risk.
Mail loops have side effects far beyond the scope of one machine and one e-mail account.
Hundreds of accounts on hundreds of e-mail machines can be dramatically and negatively impacted. It adds nothing. There is no increase in functionality over what is already present by standard means. Replying to correspondence involves the mental process of formulating a response to the author of a message. When one's privately formulated reply goes to several hundred unintended people instead, the result can be devastating, emotionally, socially and economically.