FDIC Names Five New Members to Its Systemic Resolution Advisory Committee

As it is quite well known, the Great Depression that started in 1929 had a devastating toll on the American economy, people, and spirit. Because of this, Franklin D. Roosevelt signed the 1933 Glass-Seagall Act which created the Federal Deposit Insurance Corporation. Through this, a new government agency was born to maintain stability and foster public confidence in national banks by insuring depositors in the case of bank failures. Eighty-seven years later, the FDIC still strives to protect depositors by insuring $250,000 per individual.

In 2011, the FDIC created the Systemic Resolution Advisory Committee (SRAC) in order to provide the FDIC with resources and solutions to a variety of financial issues and companies. With 16 members, the SRAC strives to analyze how the FDIC’s authority under the Dodd-Frank Act of 2010 can impact covered individuals and more.

On July 23rd, the FDIC named five new members to the committee. In addition to the current eleven members of the SRAC, the five new members are Dr. Ben S. Bernanke, Gary Cohn, Hon. Robert Drain, Timothy J. Mayopoulos, and Sandie O’Conner. Committee members are chosen based on their wide range of experience in managing complex firms; administering bankruptcies; and working in the legal system, accounting field, and academia.

Click here to view the press release!

WHER Chat: Must-Know Resources to Scale Your Business

Scale your business

Capital is pivotal for the success of any entrepreneur to launch a sustainable and lucrative business. Traditional routes of access to capital are changing as technological development creates new avenues, and the distance between entrepreneur and investor decreases due to an increase in fast and efficient communication.

The 2019 NAWRB Women Housing Ecosystem Report (WHER), the third installment of the most diverse coverage of the housing ecosystem with over sixty resources in six volumes, explains in detail how the advent of gender lens investment and diversity certification has made it easier for entrepreneurs to access modest amounts of capital and opportunities for government contracting. NAWRB is proud to be one of 11 U.S. Small Business Administration (SBA)’s women-owned small business resource partners.
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October 2019 California Wildfires: Updates & Resources

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The state of California has been dealing with at least ten active fires this past month, including the Kincade Fire, Getty Fire, Easy Fire and the recent Hillside Fire that started last night in San Bernardino County. NAWRB provides the latest updates on these fires and must-know resources for those affected by these tragic events. While Cal Fire firefighters still work hard to contain these fires and affected homeowners plan their next steps, it is important to know about the available resources for financial and physical damage recovery.

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Deadliest Fires in California 2018: Resources for Financial Recovery

Deadliest Fires

After dealing with numerous deadly fires earlier this year, California is currently dealing with three major wildfires, including the Camp Fire in Butte County, the Woosley Fire in Los Angeles County and the Hill Fire in Ventura County. California Governor-elect Gavin Newsom recently issued emergency proclamations in response to the wildfires and requested statewide FEMA Emergency Declaration. While Cal Fire firefighters still work hard to contain these fires and affected homeowners plan their next steps, it is important to know about the available resources for financial and physical damage recovery.

While we still await updates, these California fires are being named the deadliest in the state’s history. At time of writing, the number of deaths from the Camp Fire in Northern California has risen to 63 while over 600 people remain missing. According to recent updates by Cal Fire, the Camp Fire has burned approximately 142,000 acres, causing over 40,000 residents to abandon their homes and find safety. The Woosley Fire has burned more than 98,000 acres and numerous homes, and the Hill Fire in Ventura County has burned over 4,000 acres, including RVs and outbuildings. While the Hill Fire is fully contained, the Camp Fire is 45 percent contained and the Woolsey Fire is 69 percent contained.
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2018 California Fires: Resources for Safety Preparedness and Financial Recovery

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California has dealt with an onslaught of fires in the past few weeks. The Mendocino Complex Fire, Carr Fire, Ferguson Fire and Holy Fire are some of the largest that have been ravaging the state from North to South. While Cal Fire firefighters still work hard to contain these fires and affected homeowners plan their next steps, it is important to know about the available resources for financial and physical damage recovery.

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