The members of the Fourth District’s Community Depository Institutions Advisory Council (CDIAC) lead commercial banks, thrifts and savings banks, and credit unions with assets of less than $10 billion. CDIACs, one from each Reserve Bank, were established in 2010 by the Board of Governors of the Federal Reserve System following the passage of the Dodd–Frank Wall Street Reform and Consumer Protection Act in order to provide input to the Board on the economy, lending conditions, and other issues of interest to community depository institutions. Council members are selected to serve a three-year term and may serve more than one term.
Members of the national CDIAC, who meet with the Board in Washington each April and November, are selected from the representatives of banks, thrift institutions, and credit unions serving on each Reserve Bank’s CDIAC. The national CDIAC is not a statutory body, but it serves to provide first-hand input from the perspective of community banks and credit unions for the Board of Governors.
Download a complete PDF of the Community Depository Institutions Advisory Council