The Federal Reserve Bank of Boston published an interview with Sushil Tuli, founder and Chief Executive Officer of Massachusetts-based community lender Leader Bank and a Class A director on the Boston Fed’s Board of Directors, focusing on how and why he built the bank and the role he sees ethics playing in its strategy and growth. Tuli said he founded Leader Bank in 2002 amid consolidation of smaller community banks, citing customer discomfort with larger institutions and a loss of local relationship banking when small banks were absorbed. He described prioritising customer outcomes through the 2008–2009 financial crisis by avoiding subprime and alternative lending, and during the COVID-19 pandemic by processing Paycheck Protection Program loans regardless of size, which he said made the bank one of the largest PPP lenders in the state. On his Boston Fed board role, Tuli highlighted contributing “on the ground” community banking insights, including signals from refinancing activity, housing listings, and small business borrowing behaviour.
Federal Reserve Bank of Boston 2025-07-23
Federal Reserve Bank of Boston publishes interview with Board director Sushil Tuli on Leader Bank’s ethics-first community banking model
The Federal Reserve Bank of Boston published an interview with Sushil Tuli, CEO of Leader Bank and a Class A director on the Boston Fed’s Board, discussing the bank's founding amid community bank consolidation and its ethical strategy. Tuli emphasized prioritizing customer outcomes during the 2008–2009 financial crisis and the COVID-19 pandemic, notably through significant Paycheck Protection Program lending. He also highlighted providing community banking insights to the Boston Fed board.