Minority-Owned Commercial Banks and Savings Institutions Conclude Legislative Session

Apr 03, 2001, 01:00 ET from National Bankers Association

    WASHINGTON, April 3 /PRNewswire/ -- Signaling a heightened awareness of
 the importance of minority-owned financial institutions in the assurance of
 equal opportunity, the National Bankers Association ("NBA") in conjunction
 with the American League of Financial Institutions ("ALFI") concluded a
 stirring week-long legislative session at the Crown Plaza Hotel.  The session,
 which began on March 28, 2001, represented the first time the Federal Reserve,
 Federal Deposit Insurance Corporation ("FDIC"), Office of the Comptroller of
 Currency ("OCC") and the Office of Thrift Supervision ("OTS") met collectively
 with minority-owned financial institutions in recent memory.  On hand to meet
 with the regulators were approximately 70 chief executive officers of
 minority-owned banks and thrifts.  In addition, the bankers made their way to
 Capitol Hill and met with House representatives from the Financial Services
 Committee.
     FDIC Chairperson, Donna Tanoue, began the session by talking about the
 seeds that had been planted at last year's NBA Annual Convention to host this
 historic forum.  Following Chairperson Tanoue's remarks were Federal Reserve
 Governor, Edward Kelley, Jr.; Senior Deputy Director, Jonathan Feichter of the
 OCC; and OTS Director, Ellen Seidman, who respectively delivered remarks on
 behalf of their respective agencies.
     Members of Congress addressing the NBA were House Financial Services
 Committee Chairman, Michael Oxley (R-4-OH); Ken Bentsen (D-25-TX); William
 Clay (D-1-MO); Joseph Crowley (D-7-NY); Barney Frank (D-4-MA); Paul Kanjorski
 (D-11-PA); Carolyn Maloney (D-14-NY); Ronnie Shows (D-4-MS); Melvin Watts
 (D-12-NC); and Edolphus Towns (D-10-NY) of the House Commerce Committee.
 These members of Congress discussed a wide range of issues that potentially
 affect NBA institutions such as budget cut-backs in funding for the New
 Markets Tax Credit, the New Markets Venture Capital Fund, the Small Business
 Administration, the Export Import Bank and the Department of Treasury's
 Community Development Financial Institution ("CDFI") Fund.
     "Increasingly, the general public, regulatory and governmental agencies
 are realizing that many of our institutions have been around since
 reconstruction and serve a special market niche that is often overlooked by
 large banking institutions," stated James E. Young, chairman of the NBA and
 president and chief executive officer of Citizens Trust Bank in Atlanta,
 Georgia.  "We play an important role in American society and have been
 providing financial products and services to communities without being forced
 to do so by CRA."  The meetings concluded on March 30, 2001, with pledges by
 regulatory agencies to follow-up with specific proposals to ensure the future
 viability of these important institutions.
     Founded in 1927 as the Negro Bankers Association, the NBA expanded its
 mission to be inclusive of Hispanic American, Asian American, Native American
 and other minority communities in the 1940s and changed its name to the
 National Bankers Association in 1948.  In June of 2000, the NBA announced that
 its institutions intend to lend $100 million in new loans over the course of
 the next year in minority communities throughout the nation.  Collectively,
 NBA member banks have aggregate assets of over $32 billion in approximately
 sixty cities and twenty states in the United States.  Visit the National
 Bankers Association on the World Wide Web at www.natbankers.com .
 
 

SOURCE National Bankers Association
    WASHINGTON, April 3 /PRNewswire/ -- Signaling a heightened awareness of
 the importance of minority-owned financial institutions in the assurance of
 equal opportunity, the National Bankers Association ("NBA") in conjunction
 with the American League of Financial Institutions ("ALFI") concluded a
 stirring week-long legislative session at the Crown Plaza Hotel.  The session,
 which began on March 28, 2001, represented the first time the Federal Reserve,
 Federal Deposit Insurance Corporation ("FDIC"), Office of the Comptroller of
 Currency ("OCC") and the Office of Thrift Supervision ("OTS") met collectively
 with minority-owned financial institutions in recent memory.  On hand to meet
 with the regulators were approximately 70 chief executive officers of
 minority-owned banks and thrifts.  In addition, the bankers made their way to
 Capitol Hill and met with House representatives from the Financial Services
 Committee.
     FDIC Chairperson, Donna Tanoue, began the session by talking about the
 seeds that had been planted at last year's NBA Annual Convention to host this
 historic forum.  Following Chairperson Tanoue's remarks were Federal Reserve
 Governor, Edward Kelley, Jr.; Senior Deputy Director, Jonathan Feichter of the
 OCC; and OTS Director, Ellen Seidman, who respectively delivered remarks on
 behalf of their respective agencies.
     Members of Congress addressing the NBA were House Financial Services
 Committee Chairman, Michael Oxley (R-4-OH); Ken Bentsen (D-25-TX); William
 Clay (D-1-MO); Joseph Crowley (D-7-NY); Barney Frank (D-4-MA); Paul Kanjorski
 (D-11-PA); Carolyn Maloney (D-14-NY); Ronnie Shows (D-4-MS); Melvin Watts
 (D-12-NC); and Edolphus Towns (D-10-NY) of the House Commerce Committee.
 These members of Congress discussed a wide range of issues that potentially
 affect NBA institutions such as budget cut-backs in funding for the New
 Markets Tax Credit, the New Markets Venture Capital Fund, the Small Business
 Administration, the Export Import Bank and the Department of Treasury's
 Community Development Financial Institution ("CDFI") Fund.
     "Increasingly, the general public, regulatory and governmental agencies
 are realizing that many of our institutions have been around since
 reconstruction and serve a special market niche that is often overlooked by
 large banking institutions," stated James E. Young, chairman of the NBA and
 president and chief executive officer of Citizens Trust Bank in Atlanta,
 Georgia.  "We play an important role in American society and have been
 providing financial products and services to communities without being forced
 to do so by CRA."  The meetings concluded on March 30, 2001, with pledges by
 regulatory agencies to follow-up with specific proposals to ensure the future
 viability of these important institutions.
     Founded in 1927 as the Negro Bankers Association, the NBA expanded its
 mission to be inclusive of Hispanic American, Asian American, Native American
 and other minority communities in the 1940s and changed its name to the
 National Bankers Association in 1948.  In June of 2000, the NBA announced that
 its institutions intend to lend $100 million in new loans over the course of
 the next year in minority communities throughout the nation.  Collectively,
 NBA member banks have aggregate assets of over $32 billion in approximately
 sixty cities and twenty states in the United States.  Visit the National
 Bankers Association on the World Wide Web at www.natbankers.com .
 
 SOURCE  National Bankers Association