Citigroup CEO Chuck Prince, FDIC Chairwoman Sheila Bair to Address U.S. Foreclosure Crisis at Greenlining Institute's 14th Annual Economic Development Summit in Downtown Los Angeles, April 19

Business Wire, April 9, 2007

LOS ANGELES -- Citigroup CEO Chuck Prince, FDIC Chairwoman Sheila Bair and other high-ranking banking and Federal government regulators will address the country's growing foreclosure crisis and its impact on minority consumers at the Greenlining Institute's 14th Annual Economic Development Summit, April 19, at the Westin Bonaventure Hotel in Downtown Los Angeles.

Prince and Bair, along with U.S. Bancorp CEO Richard Davis, U.S. Comptroller of the Currency John Dugan and San Francisco Federal Reserve Bank President Janet Yellin will each analyze the foreclosure crisis and other financial issues that affect minority consumers, as well as their organizations' efforts to service the needs of the "under-banked" in the United States.

"Over the next 12 months, the banking industry expects more than 1 million foreclosures nationally and 150,000 in California alone," said Greenlining Institute Executive Director John Gamboa. "These foreclosures will have a devastating impact on minority consumers and working class families, many of whom struggled for years to find a home and a mortgage that they could afford. We must find a way to preserve the American Dream of homeownership for these families."

Beneath the banner, "Seizing the Opportunity," more than 1,000 banking and business leaders, elected officials and policy makers, community activists, students and academicians are expected to attend this year's summit. In addition to keynote addresses by corporate and government leaders, the Greenlining Institute will present awards to outstanding community leaders and host a series of panel discussions on civil rights, philanthropy and housing.

The civil rights panel, "Historic Victories & Contemporary Erosions: The State of Civil Rights in Our Communities," will examine the state of civil rights and how historic gains of the past are being challenged, and the impact that demographic shifts and immigration reform will have on the civil rights debate. Moderated by Maya Harris, Executive Director, ACLU Northern California, with panelists Joe Hicks, Vice President, Community Advocates, Inc.; Jennifer Gratz, Executive Director, Michigan Civil Rights Initiative; Maria Blanco, Executive Director, Lawyers Committee for Civil Rights.

The panel, "Democratizing Philanthropy," will analyze the current state of charitable giving, and the levels of transparency and diversity in grant giving by major foundations. Panelists include California State Assembly member Mervyn Dymally; Aaron Dorfman, Executive Director, National Center for Responsive Philanthropy; Steve Gunderson, President, Council on Foundations; Frances Jemmott, Trustee, Liberty Hill Foundation; and Alicia Lara, Vice President of Programs, United Way in Los Angeles.

The housing panel, "A Blueprint for Closing the Minority Homeownership Gap: How Different Sectors Can Work Together Toward Innovative Solutions," will move beyond discussing the problem and identify strategies to help prospective homeowners secure housing in the current market. Panelists include California State Secretary of Housing & Community Development Lynn Jacobs; California State Assembly member Ted Lui; Michael Hernandez, Vice President, Fannie Mae; and Maria Cabildo, Executive Director, East LA Community Corp.

The Westin Bonaventure Hotel is located at 404 S. Figueroa St. in Downtown Los Angeles. To register or for more information about the Economic Development Summit, contact the Greenlining Institute at (510) 926-400 or click on www.greenlining.org.

About the Greenlining Institute

The Greenlining Institute is a multiethnic public policy, research and advocacy institute that advocates for low income and minority communities through economic development, consumer protection, health advocacy, campaign finance reform, civil rights, and leadership development. (www.greenlining.org)