FDIC Advisory Committee on Economic Inclusion (ComE-IN)

At a Glance
	Meeting Minutes

Time	Session Information
9:00 am to 9:30 am	Welcome remarks, Diana L. Taylor, Chair, Advisory Committee Update on small dollar loan pilot program; subprime testimony; securitization roundtable – Sheila C. Bair, Chairman, FDIC
9:30 am to 10:30 am	How did we get here? Why high-priced lenders disproportionately lend to low-income and minority home borrowers William Apgar, Jr. Harvard University John Weicher, Hudson Institute
10:30 am to 10:45 am	Break
10:45 am to 12:15 pm	Efforts to Help Troubled Borrowers Michael Shea ACORN Diane Thompson Land of Lincoln Legal Assistance Foundation Kenneth Wade NeighborWorks America Michael Desmond U.S. Department of the Treasury Moderator: Sandra L. Thompson, FDIC
12:15 pm to 1:15 pm	Lunch
1:15pm to 2 pm	Mortgage Brokers Jack Guttentag Professor of Finance, Emeritus, Wharton School University of Pennsylvania
2:00 pm to 4:00 pm	What can we do? Issues for National Standards Involving Congress, Regulators, Consumers, Consumer Groups. Wall Street and Investors Defining subprime. Underwriting to the fully indexed interest rate? Prepayment penalties Mandatory escrow accounts for taxes and insurance? Licensing and standards for mortgage brokers Meaningful disclosures and honest advertising Secondary market liability Stated income/ low doc loans Future ACTION items. Legal Introduction: Sara A. Kelsey, FDIC Discussion Leader: Diana Taylor