Curated News
By: NewsRamp Editorial Staff
November 12, 2024

Mission Driven Bank Fund Appoints Inaugural Mission Advisory Committee

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Source News Release

TLDR

  • Industry leaders were appointed to the Mission Advisory Committee, providing valuable perspective and expertise in the mission-driven banking sector.
  • The committee objectively evaluates how well the Fund investments achieve its mission objectives, fostering a stronger and more inclusive banking system.
  • The Fund's mission is to drive significant growth and financial resiliency in the mission-driven bank sector, translating into progress in closing the racial wealth gap.
  • The committee comprises industry leaders with backgrounds in the operational, technical, regulatory, and entrepreneurial spaces, bringing diversified expertise and enthusiasm.

Impact - Why it Matters

This news matters because the appointment of the Mission Advisory Committee will play a crucial role in evaluating the impact of the Fund's investments and ensuring a mission-first focus, which will ultimately contribute to fostering a stronger and more inclusive banking system. The committee's expertise and independent evaluation will help drive significant growth and financial resiliency in the mission-driven bank sector, translating into demonstrated progress in closing the racial wealth gap.

Summary

The Mission Driven Bank Fund has appointed its inaugural Mission Advisory Committee, comprising seven industry leaders with expertise in Minority Depository Institution (MDI) and Community Development Financial Institution (CDFI) banks. The committee will evaluate how well the Fund's investments achieve its mission objectives. The committee includes industry experts from various sectors of the mission-driven bank industry, such as Michael Collins from the Federal Reserve Bank of Philadelphia, Nicole Elam from the National Bankers Association, and Susan Greene from Bank of America. The committee's independent evaluation will provide valuable perspective on capturing impact within the mission-driven banking sector, ensuring the Fund's mission-first focus and nationwide reach to MDIs and CDFIs.

Source Statement

This curated news summary relied on this press release disributed by 24-7 Press Release. Read the source press release here, Mission Driven Bank Fund Appoints Inaugural Mission Advisory Committee

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