EAST LOS ANGELES, Calif.--()--Pan American Bank President and CEO Jesse Torres today was appointed to the inaugural Community Bank Advisory Council of the Consumer Financial Protection Bureau (“CFPB”). CFPB Director Rich Cordray announced the composition of the 14-member Community Bank Advisory Council today after an exhaustive selection process. The CFPB created the Community Bank Advisory Council to provide advice to CFPB leadership on a broad range of consumer financial issues and emerging market trends from the community bank perspective.
“Pan American Bank’s and the CFPB’s missions are very similar – to ensure that financial services are provided to consumers in a fair and dignified manner. I am eager to begin work on the Community Bank Advisory Council.”
“It is a tremendous honor to have been selected by Director Cordray and the CFPB. As the CEO of the oldest Latino-owned bank in California and the only bank headquartered in historically economically challenged East Los Angeles, our mission for nearly 50 years has been to provide financial services in a fair, dignified, transparent and culturally-relevant manner. I look forward to sharing my experience as a community banker with the CFPB in an effort to assist the CFPB in achieving its critical mission,” said Torres. “Pan American Bank’s and the CFPB’s missions are very similar – to ensure that financial services are provided to consumers in a fair and dignified manner. I am eager to begin work on the Community Bank Advisory Council.”
The CFPB Community Bank Advisory Council was authorized by Congress through the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. More information regarding the Community Bank Advisory Council is available at http://www.consumerfinance.gov/advisory-groups/.
About Pan American Bank
Established in 1964, Pan American Bank is California’s oldest Latino-owned bank and the second-oldest Latino-owned bank in the United States. Headquartered in East Los Angeles, Pan American Bank has served the needs of the Latino communities in Los Angeles and Orange counties for nearly a half-century. Founded by the first Latina United States Treasurer, Romana Acosta Banuelos, the Bank has stayed true to its mission of transforming and empowering Latino communities through banking relationships built on trust, service, respect, communication, and guidance.