SUNY-Geneseo Wins FDIC’s Inaugural Academic Challenge — 2021-04-19

Undergraduate team selected for examination of community banks’ impact on local economies WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today announced a four-member team of undergraduate students from the State University of New York College at Geneseo won the agency’s inaugural FDIC Academic Challenge, a competition among university and college students concerning the U.S. banking sector. The FDIC selected SUNY-Geneseo students Kiersten Colvin, Ian Merrihew, Tyee MacDonnell-Miller, and Oliver Stordahl as recipients of the inaugural FDIC 2020-2021 Academic Challenge recognition. Led by faculty advisor Dr. Léonie Stone, the SUNY- Geneseo team presented a thoughtful examination on the ‘relationship banking’ services community banks offer to individuals, small businesses, and farmers, particularly in rural, low-income and minority communities. In addressing the student teams, FDIC Chairman Jelena McWilliams said, “I was really excited to see what ideas you could bring to us and what we could learn from you.