Washington, DC–Today, President Joe Biden announced his intent to appoint Allan Thian and other eight individuals to serve on the Community Development Advisory Board.
According to the White House, Alan Thian serves as the President and Chief Executive Officer of Royal Business Bank, a position he has held since the bank began operations in 2008. Mr. Thian previously served as the President and Chief Executive Officer of First Continental Bank from 2000 to 2003. He also served as the Executive Vice President and Regional Director of United Commercial Bank from 2003 to 2007.
Thian began his banking career at General Bank where he served as a director and also in various officer positions. He was appointed twice to the Federal Deposit Insurance Corporation Community Bank Advisory Committee and previously served as a member on the Consumer Financial Protection Bureau Community Bank Advisory Committee. Mr. Thian holds an MBA from the University of Southern California.
According to the Department of Treasury, Section 104(d) of the Community Development Banking and Financial Institutions Act of 1994 established the Community Development Advisory Board to advise the Director of the CDFI Fund. The Advisory Board is to meet at least annually.
The Advisory Board shall consist of 15 members, including the Secretary of the Departments of Agriculture, Commerce, Housing and Urban Development, Interior and Treasury and the Administrator of the Small Business Administration, or his or her designee; and nine private citizens appointed by the President.
The other appointed individuals include Marla Bilonick, Dave Glaser, Patrice Kunesh, Luis Pastor, Harold Pettigrew, Jennifer Sun, Michale Swack, and Darrin L. Williams.
