Philly Fed appoints National Penn exec to Federal Reserve council
The Federal Reserve Bank of Philadelphia has appointed Scott V. Fainor, the president and CEO of National Penn Bancshares Inc. and National Penn Bank, as its representative to the Federal Reserve Board of Governors' Federal Advisory Council for 2014.
Fainor has more than 30 years of banking experience, according to the Philadelphia fed. He has been president and CEO of National Penn Bank since 2008 and the parent company since 2010. Prior to that he held the same positions with KNBT Bancorp Inc. until its merger with National Penn.
National Penn, based in Berks County, has several branches around Lancaster County.
The advisory council is made up of 12 members from the banking world representing the federal reserve banks around the country to advise the federal reserve board of directors on monetary and banking policy.