ACB: Press Releases

Contact:	Robert Schmermund (202) 857-3104 Jim Eberle (202) 857-3145	Jim Eberle (202) 857-3145 (work) (703) 893-2593 (home) [email protected]	For Immediate Release July 3, 2001 #01-47
E-mail: [email protected]

ACB COMMENTS ON RESIGNATION OF OTS DIRECTOR, NOMINATION OF REPLACEMENT

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Statement by Diane M. Casey, president and CEO, America’s Community Bankers, on the resignation today of Office of Thrift Supervision Director Ellen Seidman and the nomination of James E. Gilleran:

Ellen Seidman’s leadership at OTS was a major factor in enhancing the value of the thrift charter. Her legacy is a stronger industry, an effective regulator, and a charter — whether stock or mutual — that occupies an important place in the banking industry.

Ellen understood the importance of the federal thrift charter and the unique opportunities this structure provides to banking and consumers. During her term as director, she strongly promoted enhancements to the thrift charter as the industry expanded its traditional role as a housing lender into broader financial support to consumers, small businesses and communities.

Ellen was the social conscience of our industry. She was a leader in community reinvestment and in striking out against predatory lending. She urged thrifts and banks to find creative ways to serve all segments of their communities.

America’s Community Bankers is delighted with the nomination of James Gilleran to be the next director of OTS. He brings excellent credentials to the job as a former banker and bank supervisor. He will inherit a dynamic regulatory agency supervising strong institutions with the most flexible charter in the industry. ACB pledges to work with him in his future challenges.

America’s Community Bankers is the national trade association committed to shaping the future of banking by being the innovative industry leader strengthening the competitive position of community banks. To learn more about ACB, visit www.AmericasCommunityBankers.com.

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