Fed Vacancies Prompt Push to Name Community Banker: Economy
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The Federal Reserve Board of Governors that’s taking shape under Janet Yellen has a conspicuous and unusual absence: anyone with a community-banking background.
The lack of a representative is raising anxiety among executives of the almost 7,000 banks in the United States with assets under $10 billion, many of them struggling to understand and influence the Fed’s overhaul of the financial system under the Dodd-Frank Act.