The Federal Deposit Insurance Corporation (FDIC), Federal Reserve Board, Office of the Comptroller of the Currency (OCC), and the Office of Thrift Supervision (OTS) are hosting the fourth annual national conference for federally insured Minority-Owned banks and thrifts.
The conference, with the theme of "A Bridge to Community Stabilization," features keynote remarks from FDIC Chairman Sheila C. Bair and Federal Reserve Board Governor Elizabeth A. Duke, and is being held at the Westin Michigan Avenue Hotel in Chicago, Illinois, beginning today and running through Friday.
Attendees will have the opportunity to meet with senior regulatory staff and representatives from the private sector as a means of increasing awareness about the critical issues facing Minority-Owned institutions. Breakout sessions focus on commercial real estate lending, liquidity and funding, mortgage foreclosure prevention programs, and bank accounting issues. In addition, Treasury Department staff will explain certification and application procedures for the Community Development Financial Institutions fund.
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 8,246 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-120-2009