On March 2, Laredo-based Commerce Bank announced that Ignacio Urrabazo Jr., president and CEO, has been appointed to the Consumer Financial Protection Bureau (CFPB) Community Bank Advisory Council (CBAC). In this role, he will provide valuable insights and recommendations on various consumer financial issues, including lending practices, consumer protection and regulatory compliance.

The CBAC, composed of eight representatives, is a 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 U.S. Urrabazo has served as president of Commerce Bank for nearly 40 years. Additionally, he 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,” says Dennis E. Nixon, CEO and chairman of International Bancshares Corp., the holding company of Commerce Bank. “His extensive banking experience and dedication to the community make him a natural fit for this important role. 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.”

Established in 1982, Commerce Bank has been serving the Laredo community with a retail branch network of four locations.