BOULDER, COLO. — The Graduate School of Banking at Colorado (GSBC) is pleased to announce Thomas M. Hoenig, immediate past vice chair of the Federal Deposit Insurance Corporation (FDIC) and former president and chief executive officer of the Federal Reserve Bank of Kansas City, as the 29th recipient of the James C. Scarboro Award.

Hoenig has more than 40 years of experience in economics, central banking, commercial bank supervision and executive leadership. He is a life-long advocate of market based methods to allocating scarce resources and assuring strong and consistent economic growth.

“Mr. Hoenig has made a profound impact on the banking system, giving community banks a voice during volatile economic and political periods in our history. We are honored to be able to recognize him for those contributions by awarding him the James C. Scarboro Award,” said GSBC President Tim Koch.

Throughout his career he identified problems and offered solutions to some of the biggest challenges facing the U.S. economy and financial system. He introduced specific proposals to reduce industry regulatory burden, especially as it affected regional and community banks. In recognition of these efforts he received the Independent Bankers of America’s Main Street Champion award in 2011. At the FDIC, Hoenig became one of the most influential Vice Chairman in its history. In May 2014, American Banker noted that ‘…Hoenig is setting a new bar for how vocal an FDIC No. 2 can be.’

Scarboro co-founded GSBC—formerly the Colorado School of Banking—in 1950, and died in 1973. In his honor, the GSBC Board of Trustees honors an industry advocate who has provided outstanding leadership to the banking community with this award.

Hoenig will receive the award during graduation exercises of the 68th Annual School Session in Boulder, Colo.