M&F Bank SVP Valerie M. Quiett Named to National Advisory Council for CFPB

Durham, NC – Valerie M. Quiett, Senior Vice President and Chief Legal Officer of M&F Bank, has been named to the Community Bank Advisory Council of the Consumer Financial Protection Bureau (CFPB). Established by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the CFPB is the U.S. government agency that protects consumers from unfair, deceptive or abusive practices by banks, lenders or other financial entities. Members of its Community Bank Advisory Council are selected from institutions across the country to provide the CFPB with the unique perspectives of community banks.

With over thirty years of combined legal and financial services experience, Quiett has been with M&F Bank since 2000 and serves in the additional roles of M&F Bank’s Compliance Officer, BSA Officer, CRA Officer, and Corporate Secretary. She is responsible for the coordination of all legal matters, maintaining regulatory compliance, policies and procedures, and compliance training. Prior to joining M&F, Quiett was a staff attorney with Eastern Carolina Legal Services, and had held increasing positions of responsibility with Branch Banking & Trust; both companies were located in Wilson, NC. Quiett is a summa cum laude graduate of North Carolina A&T State University where she earned a B.S. in business economics. She earned her J.D. from North Carolina Central University School of Law and completed the N.C. School of Banking at UNC-Chapel Hill. Quiett also has earned the designation of Certified Community Bank Compliance Officer from the Independent Bankers of America (ICBA).

Quiett is a member of the NC Bar Association, participates in the NC Bankers Association’s Bank Counsel Committee and is a member of the Durham Chapter of Jack and Jill of America Inc. She is the board first vice-chair of the North Carolina Coastal Pines Girls Scouts. Quiett and husband Vincent are the parents of Dr. Valencia Quiett, Victoria Quiett, and Veronica Quiett.

James H. Sills, president and CEO, said, “Valerie’s broad experience as well the essential nature of her positions here at M&F will make her a valuable asset to the CFPB’s Community Bank Advisory Council. She will bring insight to every aspect of their core functions, and help ensure that the best interests of consumers and the community banks they serve are protected.”

M&F Bank, a state-chartered commercial bank, has operated continuously since. The Bank’s mission is to meet the financial services needs of the communities it serves, promote personal and community development, and to provide quality service to all while continuing its tradition of service those who historically have been underserved. M&F Bank is the wholly-owned subsidiary of M&F Bancorp, Inc., a one-bank holding company headquartered in Durham, NC, with assets of approximately $262.5  million as of June 30, 2019. The Company’s common stock is quoted in the over-the-counter market through the OTC Pink Bulletin Board under the symbol “MFBP.” For additional information contact M&F Bancorp corporate headquarters, 2634 Durham Chapel Hill Blvd., Durham, NC at 919.687.7800 or visit www.mfbonline.com.