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Ellen Seidman

Ellen Seidman is a member of the Consumer Advisory Board and a former Executive Vice President of ShoreBank Corp. ShoreBank was the oldest and largest community development bank with $2.2 billion in assets and $1.5 billion in deposits. According to its bankruptcy filing, the bank closed due to residential rehabilitation loans and condominium conversion loans. After repeated losses, the bank was no longer viable and the FDIC closed the bank. Overall, the closure cost taxpayers $367 million.