American Business Financial Services Names Steve Giroux Senior Vice President and General Counsel.Business Editors BALA CYNWYD, Pa.--(BUSINESS WIRE)--April 25, 2001 American Business Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , Inc. (Nasdaq: ABFI) has announced that Stephen M. Giroux has been promoted to Senior Vice President and General Counsel. Giroux joined ABFI in September 1999 as Deputy General Counsel. Giroux's responsibilities include supervising and managing the ABFI legal department staff of 30, consisting of attorneys, paralegals and administrative support staff as well as two business units of an additional 25 employees. In addition to his management role, Giroux is charged with providing advice on a wide range of legal, business and strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. issues. With more than 25 years of broad-based banking and corporate law experience, Giroux brings an extensive background to his role as Senior Vice President and General Counsel for ABFI. Prior to ABFI, Giroux was a partner in the Philadelphia law firm of Weir & Partners LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control where he engaged in general corporate law, with a specialization in banking law. Additionally, Giroux worked for many years at CoreStates Financial Corp. (now First Union Corporation), where he served as Senior Vice President and Lead Counsel, with responsibility for managing all legal aspects of the CoreStates retail banking organization. His career also includes serving as Senior Attorney for the Federal Reserve Bank of Philadelphia The Federal Reserve Bank of Philadelphia, headquartered in Philadelphia, Pennsylvania, is responsible for the Third District of the Federal Reserve, which covers eastern Pennsylvania, southern New Jersey, and Delaware. . Giroux is a member of the American Bar Association American Bar Association (ABA), voluntary organization of lawyers admitted to the bar of any state. Founded (1878) largely through the efforts of the Connecticut Bar Association, it is devoted to improving the administration of justice, seeking uniformity of law , New Jersey State Bar Association and the Philadelphia Bar Association. He has also earned the distinguished AV rating by the Martindale-Hubbell Law Dictionary A law dictionary is a dictionary that is designed and compiled to give information about terms used in the field of law. A distinction is made between different types of law dictionaries. A monolingual law dictionary covers one language, a bilingual covers two. , the highest legal ability and ethics rating in the profession. American Business Financial Services, Inc. is a diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment services company operating nationwide, which provides credit services and investment products to consumers and businesses, including business loans, first and second home equity mortgage loans, and subordinated investment notes. For more information about American Business Mortgage Services, contact Keith Bratz, 610-617-7475. Certain statements contained in this press release, which are not historical fact, may be deemed to be forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. under federal securities laws. There are many important factors that could cause American Business Financial Services, Inc. and its subsidiaries' actual results to differ materially from those indicated in the forward-looking statements. Such factors include, but are not limited to, general economic conditions, including interest rate risk, future residential real estate values, regulatory changes (legislative or otherwise) affecting the real estate market and mortgage lending activities, competition, demand for American Business Financial Services, Inc. and its subsidiaries' services, availability of funding, loan payment rates, delinquency and default rates, changes in factors influencing the loan securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. market and other risks identified in American Business Financial Services, Inc.'s Securities and Exchange Commission filings. |
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