03/08/2023 | Press release | Archived content
(March 2, 2023) LAREDO, TEXAS - Commerce Bank proudly announces that its President and CEO Ignacio Urrabazo Jr. has been appointed to the Consumer Financial Protection Bureau (CFPB) Community Bank Advisory Council (CBAC). In this role, Urrabazo will provide valuable insights and recommendations on various consumer financial issues, including lending practices, consumer protection and regulatory compliance.
The CBAC, composed of 8 representatives, is a vital forum that brings together top industry experts to guide the CFPB on matters impacting community banks and the communities they serve. With more than five decades of experience in the banking industry, Urrabazo is recognized as one of the most influential small business banking experts in the United States. As a member of the CBAC, he will provide invaluable expertise that will help shape the future of the community banking industry.
"I am honored to have been appointed to the CBAC and to work with such a distinguished group of professionals," said Urrabazo. "I look forward to sharing my expertise and contributing to the CFPB's mission of ensuring that financial companies treat consumers fairly."
Urrabazo has served as president of Commerce Bank for nearly 40 years and has been instrumental in the bank's growth and success during his tenure. Additionally, Urrabazo has a distinguished record of service on various boards, having served as chairman of the National Bankers Association and the Texas Bankers Association and as a former member of the American Bankers Association's Government Relations Council.
"We are extremely proud of Mr. Urrabazo's appointment to the Community Bank Advisory Council. His extensive banking experience and dedication to the community make him a natural fit for this important role," said Dennis E. Nixon, CEO and chairman of International Bancshares Corporation, the holding company of Commerce Bank. "We are confident that he will make a meaningful contribution and help ensure that the Consumer Financial Protection Bureau's policies and initiatives are well-informed and responsive to the needs of community banks and their customers."
As a community bank that has benefitted greatly from Urrabazo's leadership, Commerce Bank is proud to see him be recognized for his contributions to the industry and the community. We look forward to his continued success in this new role.
About Commerce Bank
Commerce Bank's commitment to "We Make It Happen" reflects the bank's dedication to the growth and success of the customers and community it serves. Commerce Bank is a member of International Bancshares Corporation (NASDAQ: IBOC), a $15.5 billion multi-bank financial holding company headquartered in Laredo, Texas, with 167 facilities and 257 ATMs serving 75 communities in Texas and Oklahoma. Commerce Bank has been serving the Laredo community since 1982 with a retail branch network of four locations. MEMBER FDIC / INTERNATIONAL BANCSHARES CORPORATION. Follow our Facebook and Instagram page, @IBCBankWeDoMore. More information is available at ibc.com.