Cal Fed Community Development Executive Joins Consumer Advisory Council.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--Jan. 10, 2000 The Federal Reserve Board of Governors approved the nomination of Dorothy Broadman, senior vice president and manager of community development for California Federal Bank California Federal Bank, often abbreviated to "Cal Fed", was a savings and loan bank in California. It existed from 1926 until 2002, when its parent company Golden State Bancorp was acquired by Citigroup, resulting in the bank being merged into Citibank. , to serve for three years on its Consumer Advisory Council along with six other new members. Broadman was nominated by the Federal Reserve Bank of San Francisco The Federal Reserve Bank of San Francisco is the federal bank for the twelfth district in the United States. The twelfth district is made up of nine western states—Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington—plus American Samoa, . The council advises the board on matters involving the Consumer Credit Protection Act The Consumer Credit Protection Act (15 U.S.C.A. § 1601 et seq. [1972]) is federal statute designed to protect borrowers of money by mandating complete disclosure of the terms and conditions of finance charges in transactions; by limiting the Garnishment of wages; and by regulating and other issues involving consumer financial services. The council meets three times a year in Washington, D.C. "My focus at Cal Fed is to work with our various business units to increase our outreach to lower income communities and people and to those in traditionally under-served minority groups," said Broadman. "This appointment will give me a great opportunity to share what I've learned working in the field with policy makers in Washington. At the same time, I can broaden my vision into consumer-related areas that I haven't explored before. I'm very much looking forward to participating on the committee. It's quite an honor to be selected." Broadman currently serves on several boards and advisory councils, including the Executive Committee of the National Association of Affordable Housing Lenders and the Community Reinvestment Act Community Reinvestment Act (CRA) Enacted by Congress in 1977, the CRA encourages banks to help meet the credit needs of their communities for housing and other purposes, particularly in neighborhoods with low or moderate incomes, while maintaining safe and sound operations. Committee of the Consumer Bankers Association. Before joining Cal Fed (then First Nationwide Bank) in 1989, she held positions at Citibank and Wells Fargo Bank. San Francisco-based California Federal Bank, the second-largest depository institution Depository institution A financial institution that obtains its funds mainly through deposits from the public. This includes commercial banks, savings and loan associations, savings banks and credit unions. based in California, has approximately $56 billion in assets, 352 branches in California and Nevada, and $24 billion in deposits. Cal Fed, the principal operating subsidiary of Golden State Bancorp (NYSE NYSE See: New York Stock Exchange :GSB GSB Graduate School of Business (Stanford) GSB Graduate School of Business (Chicago) GSB Government of the Student Body (Iowa State University, Ames, IA) ), is a full-service community-oriented bank offering consumers and businesses the products and experience to help them achieve their financial goals. For more on the companies, see our web sites at www.calfed.com and www.goldenstatebancorp.com. |
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