Public Meeting Regarding Citicorp and Travelers Group
Held on Thursday, June 25, and Friday, June 26, 1998, at the Federal Reserve Bank of New York
Transcript of the Public Meeting held on June 25 and June 26, 1998, on the application by Travelers Group Inc. to acquire Citicorp, both in New York, New York. Transcripts and exhibits are presented by speaker panel; each day's transcript and exhibits are also presented in their entirety after the last panel of each day.
Thursday, June 25
- Opening Remarks
- William J. McDonough, President, Federal Reserve Bank of New York
- Glenn Loney, Presiding Officer; Deputy Director, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System
- Elizabeth McCaul, Acting Superintendent of Banks, New York State Banking Department
- Glenn Loney, Presiding Officer; Deputy Director, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System
- Applicant Presentation
- John S. Reed, Chairman and CEO, Citicorp
- Charles O. Prince, Executive Vice President, General Counsel and Secretary, Travelers Group
- Pamela Flaherty, Senior Vice President, Citicorp
Exhibits (311 KB PDF) - Charles O. Prince, Executive Vice President, General Counsel and Secretary, Travelers Group
- Panel One
- Nellie Santiago-Fernandez, Senator, New York State
- David Nocenti, Queens Borough President Clair Shulman's Office
- Dannel P. Malloy, Mayor, City of Stamford
- Stephen Kaufman, Assemblyman, New York State
- Robert Elliot, Mayor of the City of Croton-on-Hudson
Exhibits (267 KB PDF) - David Nocenti, Queens Borough President Clair Shulman's Office
- Panel Two
- Matthew Lee, Inner City Press/Community on the Move
- Gwendolyn Jacobs, National and New York ACORN
- Gloria Waldron, New York and Illinois ACORN
- Chitra Desai, New York ACORN
- Narcisco Ortiz, Inner City Press/Community on the Move
- Jose Torres, South Bronx Inner City Small Business Association
Exhibits (5.6 MB PDF) - Gwendolyn Jacobs, National and New York ACORN
- Panel Three
- Glenn Van Nostritch spoke for Mark Green, Public Advocate, New York
- Walter L. McCaffrey, NYC Council Member
- Dennis M. Walcott, New York Urban League
- Peter Rivera, Assemblyman, New York State
Exhibits (253 KB PDF) - Walter L. McCaffrey, NYC Council Member
- Panel Four
- Bill Traylor, Local Initiatives Support Corp.
- Jacqueline O'Garrow, FannieMae New York Partnership Office
- Suzanne Israel Tufts, American Woman's Economic Development Corp.
- Edwin Reed, Jamaica Business Resource Center
- Michael D. Lappin, The Community Preservation Corp.
Exhibits (101 KB PDF) - Jacqueline O'Garrow, FannieMae New York Partnership Office
- Panel Five
- Karen M. Thomas, Independent Bankers Association of America
- Mark Silverman, Citicorp-Travelers Watch
- Hilary Botein, Neighborhood Economic Development Advocacy Project
- Sarah Ludwig, NYC Community Reinvestment Task Force
- Josh Zinner, South Brooklyn Legal Services
Exhibits (466 KB PDF) - Mark Silverman, Citicorp-Travelers Watch
- Panel Six
- Howard Sommer, New York Community Investment Company, LLC
- George C. Schmitz, Leviticus 25:23 Alternative Fund, Inc.
- Eric Powell, New York City Housing Partnership
- John J. Ferrandino, National Academy Foundation
- Mark A. Emmert, University of Connecticut
- Howard A. Banker, Low Income Housing Fund
Exhibits (888 KB PDF) - George C. Schmitz, Leviticus 25:23 Alternative Fund, Inc.
- Panel Seven
- John Shemo, Connecticut Capitol Region Growth Council
- F. Peter Libassi, Children's Fund of Connecticut
- Kathleen Gordon, Working Capital Florida
- Ceasar J. Claro, Staten Island Economic Development Corp.
- Paul C. Christie, Center City Churches, Inc.
- Carol Aranjo, National Federation of Community Development Credit Unions
Exhibits (1.6 MB PDF) - F. Peter Libassi, Children's Fund of Connecticut
- Panel Eight
- Alan Fisher, California Reinvestment Committee [letter read into record by
Narcisco Ortiz of Inner City Press]
- Hubert Van Tol, Wisconsin Rural Development Center [letter read into record by Matthew Lee of Inner City Press]
- Phyllis Salowe-Kaye, New Jersey Citizen Action
- Rashmi Rangan, Delaware Community Reinvestment Action Council, Inc.
- Ruhi Maker, Greater Rochester Community Reinvestment Coalition
Exhibits (4.6 MB PDF) - Hubert Van Tol, Wisconsin Rural Development Center [letter read into record by Matthew Lee of Inner City Press]
- Panel Nine
- Mark Pinsky, National Community Capital Corporation
- Clara Miller, Non-Profit Facilities Fund
- Paula L. Gavin, YMCA of Greater New York
- Peter J. Elkowitz, Jr., Long Island Housing Partnership, Inc.
- William C. Dorsey, Grow Bridgeport Fund
Exhibits (1.9 MB PDF) - Clara Miller, Non-Profit Facilities Fund
- Panel Ten
- Douglas E. Schallau, Junior Achievement of New York
- Ralph Porter, MBD Community Housing Corp.
- Phillip Morrow, South Bronx Overall Economic Development Corp.
- Lisa Gerrol, National Multiple Sclerosis Society, Greater Connecticut
- Ted Buerger, Welfare to Work Foundation/Coalition for Welfare to Work
- Eddie Torres, BCA Development Corp.
Exhibits (345 KB PDF) - Ralph Porter, MBD Community Housing Corp.
- Panel Eleven
- Cesiah Mullane, The Reinvestment Committee of Cypress Hills & City Line
- Michelle Neugebauer, Cypress Hills Development Corporation
- Jennifer Lee, The Reinvestment Committee of Cypress Hills & City Line
- Michael Green, Inner City Prospective Homeowners Association
- Claudino Otenez, Inner City Press/Homesteader's Association
Exhibits (529 KB PDF) - Michelle Neugebauer, Cypress Hills Development Corporation
- Panel Twelve
- Patricia O'Neill Galin, These Our Treasures, Inc.
- Raymond C. Bowen, LaGuardia Community College, CUNY
- Amalia Betanzos, Wildcat Service Corporation
- Sue Bastian, Teaching Matters, Inc.
- Peter Barnett, Wynandach Homes & Property Development Corp.
Exhibits (203 KB PDF) - Raymond C. Bowen, LaGuardia Community College, CUNY
- Panel Thirteen
- Rev. Dennis Dillon, E. Fulton St. Group/21st Century Partnership
- Rev. James H. Daniel, Jr., E. Fulton St. Group/21st Century Partnership [statement read by son - James H. Daniel
Exhibits (365 KB PDF) - Rev. James H. Daniel, Jr., E. Fulton St. Group/21st Century Partnership [statement read by son - James H. Daniel
- Panel Fourteen
- Jane Perkinson, SHORE, Inc.
- David Wolin, Habitat For Humanity
- Roslyn D. Goldmacher, Long Island Development Corp.
- M. Vicki Wacksman, New York State Association of Black Women Owned Enterprises, Inc.
- Monique Spyke, Hartford Public High School
- Naomi Brown, Hartford Public High School
Exhibits (1.1 MB PDF) - David Wolin, Habitat For Humanity
- Panel Fifteen
- James H. Wyche, Leadership Alliance
- Lydia Tom, The Enterprise Foundation
- Douglas E. Warns, United Way of Tri-State
Exhibits (152 KB PDF) - Lydia Tom, The Enterprise Foundation
- Panel Sixteen
- Maria Rosado, MHR Management, Inc.
- Donna Panton, The Nonprofit Connection
- Peter Kiernan, Brooklyn Sports Foundation
Exhibits (340 KB PDF) - Donna Panton, The Nonprofit Connection
Complete Thursday transcript | Complete Thursday exhibits (19 MB PDF)
Friday, June 26
- Welcome
- Glenn Loney, Presiding Officer; Deputy Director, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System
- Panel Seventeen
- Marie S. Nahikian, Queens County Overall Economic Development Corp.
- George McDonald, the Doe Fund
- Fredy Espaillat, Louis Brandeis High School
- Margaret Chen, Asian Americans for Equality
Exhibits (1.6 MB PDF) - George McDonald, the Doe Fund
- Panel Eighteen
- Jerry Weber, New York Association for New Americans, Inc.
- Jane Canner, Classroom, Inc.
- Amb. Dr. Francois de Cassagnol, Dr. Cassagnol Foundation
Exhibits (407 KB PDF) - Jane Canner, Classroom, Inc.
- Panel Nineteen
- Robert S. Sanchez, National Hispanic Business Group
- Carmelo Loran, Occupational Training Institute
- Truda Cleeves Jewett, The Children's Aid Society
- Carmelo Loran, Occupational Training Institute
- Panel Twenty
- Lillian Rodriguez-Lopez, Hispanic Federation
- Shirley Middleton, WLM Bridge the Gap Family Day Care Network
- Grace Johnson-Claxton, Johnson Home Care Services, Inc.
- Antonio M. Gotto, Jr., Joan & Sanford Weill Medical College, Cornell University
Exhibits (92 KB PDF) - Shirley Middleton, WLM Bridge the Gap Family Day Care Network
- Panel Twenty-One
- Edward S. Sheeran, City of Yonkers
- Vickie Hurewitz, SENSES
- April G. Tyler, West Harlem Independent Democratic Club
- Greg Todd, BEC New Communities
- Florence M. Rice, Harlem Consumer Education Council, Inc.
Exhibits (1.4 MB PDF) - Vickie Hurewitz, SENSES
- Panel Twenty-Two
- Mark Winston Griffith, Central Brooklyn Partnership
Exhibits (252 KB PDF)
- Panel Twenty-Three
- Rev. Floyd Flake, Allen AME Church
- Carlisle Towery, Greater Jamaica Development Corp.
- Anne C. Robinson, Bridgeport Neighborhood Fund/Trust
- Ronda Kotelchuck, Primary Care Development Corporation
- Samuel C. Hamilton, Hartford Economic Development Corp.
- Audi Abernathy, Harlem YMCA
Exhibits (267 KB PDF) - Carlisle Towery, Greater Jamaica Development Corp.
- Panel Twenty-Four
- Nancy Roberts, Coordinating Council for Foundations
- Abdul-Rahmaan Muhammad, The Village for Families and Children
- Joanne M. Oplustil, Church Avenue Merchants Block Association
- Robert W. Davenport, National Development Council
- Jennifer Adolph Blum, Brooklyn Chamber of Commerce
Exhibits (446 KB PDF) - Abdul-Rahmaan Muhammad, The Village for Families and Children
- Panel Twenty-Five
- Gerry Vazquez, New Visions for Public Schools
- Amos Brown, Board of Supervisors of San Francisco, NAACP
- Charles Siegel (for Mahesh Shah)
- Pam Martens, National Organization for Women
- Galen Sherwin, President, NOW, NY City
- Karen Lin, District Counsel, Office of State Senator Catherine Abate
- Lloyd Williams, Greater Hartford Chamber of Commerce
Exhibits (635 KB PDF) - Amos Brown, Board of Supervisors of San Francisco, NAACP
Complete Friday transcript | Complete Friday exhibits (3.0 MB PDF)
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Last update: September 27, 2002