White House Reviews Community Bankers for Fed

Wall Street Journal
Wednesday, April 9, 2014

The White House is reviewing individuals with community banking experience for an open seat at the Federal Reserve Board. Administration officials have mentioned Ann Marie Mehlum and Rebeca Romero-Rainey as potential candidates. Ms. Mehlum, who currently works for the Small Business Administration, previously served as the chief executive of Summit Bank in Eugene, Ore. Ms. Romero-Rainey is the chief executive of the Centinel Bank of Taos in New Mexico. Senate Banking Committee members from both sides of the aisle, including Sens. Heidi Heitkamp (D-N.D.) and Mark Kirk (R-Ill.), have also urged President Obama to fill at least one of the vacant seats on the Fed with a community banker to increase the diversity of experience on the seven-member board.