Sherman, MarcAurele Named to Community Banking Council

Sherman, MarcAurele Named to Community Banking Council

BankRI president and CEO Merrill Sherman and Joseph MarcAurele, president and CEO of Westerly’s Washington Trust Company, have been selected to serve as two of the 12 members of the Community Depository Institutions Advisory Council (CDIAC), a new program of the Federal Reserve Bank of Boston.  Their companies are the two Rhode Island firms represented on the Council.

“It is an honor to be asked to serve on the CDIAC Council,” said Sherman, who was also recently named one of the “Top 25 Most Powerful Women in Banking” by U.S. Banker and American Banker. “I am looking forward to sharing best practices and perspectives on the economy with my peers from across New England.”

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Council Part of Fed Reform

The CDIAC was formed in response to new regulations imposed by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, part of President Obama’s 2010 financial regulatory package passed by the U.S. Congress.

Each Federal Reserve Bank across the country is establishing a First District CDIAC. The council will consist of twelve representatives of banks, thrifts and credit unions from across New England.  Members of the council, who are from each of the six New England states, will offer their perspectives on the economy, lending conditions, and other important topics.

The newly formed council will meet three times a year, the first meeting was held on March 1.

In addition to Sherman and MarcAurele, the following members were appointed:

• James W. Blake, president/CEO, HarborOne Credit Union, Brockton
• Tom Caron, president/CEO, Bank of Easton, North Easton
• Jane Walsh, president/CEO, Northmark Bank, North Andover
• Bill Stapleton, president/CEO, Northampton Co-Operative Bank, Northampton
• Christopher Oddleifson, president/CEO, Rockland Trust Co., Rockland
• John J. Dwyer, Jr., president/CEO, New England Federal Credit Union (NEFCU); Williston, Vt.
• Michael L'Ecuyer, president/CEO, Bellwether Community Credit Union; Manchester, N.H.
• Gregg R. Tewksbury, president/CEO, Savings Bank of Walpole; Walpole, N.H.
• Peter Judkins, president/CEO, Franklin Savings Bank; Farmington, Maine
• Gregory Shook, president/CEO, Essex Savings Bank; Essex, Conn.