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The Federal Reserve Board today named eight new members to its Consumer Advisory Council to replace members whose terms have expired, and designated a new Chairman and Vice Chairman of the Council for 1997. The Consumer Advisory Council was established by the Congress in 1976, at the suggestion of the Board, to advise the Board on the exercise of its duties under the Consumer Credit Protection Act and on other consumer-related matters. The 30-member Council, with three-year terms that are staggered to ensure continuity, meets three times a year at the Board's offices in Washington, D.C. Julia W. Seward, Vice President and Corporate Community Reinvestment Officer for Signet Banking Corporation in Richmond, Virginia, was designated Chairman. Her term will run through December 1997. William L. Lund, Director of the Office of Consumer Credit Regulation for the State of Maine, was designated Vice Chairman. His term on the Council ends in December 1998. The eight new members are:
Wayne-Kent A. Bradshaw Since 1989, Mr. Bradshaw has been President and CEO of Family Savings Bank, a $174 million institution with four branches serving primarily South Central Los Angeles. Family Savings is the state's largest African-American-controlled financial institution. Previously, Mr. Bradshaw was President and CEO of Founders Savings and Loan Association in Los Angeles. Earlier, he held various posts with Union Bank in Los Angeles and Oakland, including Vice President/Manager, Asset-Based Financing, and Vice President, Northern California Asset Financing Center. Mr. Bradshaw served as Chief Deputy Superintendent of the California State Banking Department, in San Francisco, from 1981 to 1983. He received a bachelor's degree from the University of Arizona and an M.B.A. from the University of Southern California.
Janet C. Koehler Ms. Koehler is Senior Manager of Electronic Commerce for AT&T Universal Card Services. From 1990 to February 1996, when she assumed her present duties, she was Executive Director for Consumer Affairs. In that post, she was a strong proponent for consumer education and initiated programs reaching out to consumers, including management of AT&T Universal Card Services' first million-dollar grant to consumer credit education programs across the United States. She has been with the AT&T corporation since 1975 in various capacities. Ms. Koehler has served on the advisory committee of the National Institute for Consumer Education and on the education committee of the American Council on Consumer Interests. She also served on the executive committee of the International Credit Association and was chairman of its education committee. Ms. Koehler is the recipient of the National Coalition for Consumer Education Award for Leadership in Consumer Education and the International Credit Association's Merit and Distinguished Service Awards.
Paul E. Mullings Mr. Mullings is President and CEO of the Mortgage Electronic Registration System, Inc. (MERS), established in February 1996. MERS is a national registration system that tracks mortgage rights for the benefit of consumers and the real estate finance industry. The idea was conceived by a technology committee of the Mortgage Bankers Association of America (MBA). Mr. Mullings served as a member of the MBA's Board of Governors from 1995 to 1996, and is a past vice-chairman of its fair lending committee. He currently serves on the MBA's legislative committee. Previously, Mr. Mullings was President and CEO of First Interstate Bank's Residential Mortgage Company, where he was responsible for mortgage origination, servicing, and secondary marketing for thirteen western states. He has served on Fannie Mae's National Advisory Council. In 1992 he was named "Outstanding Banker of the Year" by the Los Angeles Urban Bankers.
Carol Parry Ms. Parry is Executive Vice President in charge of the Community Development Group, Chase Manhattan Bank, and Chairman of the Chase Manhattan Community Development Corporation. Her responsibilities include all lending for low- and moderate-income housing, commercial revitalization projects, loans guaranteed by the Small Business Administration, loans to community-based not-for-profit organizations, affordable mortgages, corporate contributions and community outreach activities, the bank's minority and women vendor program, and fair lending and Community Reinvestment Act compliance. Ms. Parry serves on the advisory board for the Community Development Financial Institutions program under an appointment by President Clinton. She chairs the New York Clearing House's CRA committee, is co-chair of the New York Mortgage Coalition, and is on the executive committee and board of directors of the Health Insurance Plan of Greater New York. Ms. Parry also serves on the boards of the NYC Housing Partnership, Homes for the Homeless, the Citizens Housing and Planning Commission, the New York Landmarks Conservancy, and the New York Community Investment Company.
Philip Price, Jr. Mr. Price is Executive Director of The Philadelphia Plan, which was founded in 1994. The Plan is a long-term partnership among the private sector, inner-city neighborhoods, and city and state governments. Previously, Mr. Price was president of the Allegheny West Foundation, a Pennsylvania nonprofit corporation that manages the Allegheny West Community Development Project in North Philadelphia. The Philadelphia plan is modeled after the Allegheny West project--a comprehensive, cooperative revitalization program started in 1968 by Tasty Baking Company to improve the quality of life within neighborhoods adjacent to the Tasty's plant and create opportunities for the residents of those neighborhoods. Mr. Price was the project's organizing and first executive director. From 1983 to 1988, Mr. Price was deputy director of the Urban Affairs Partnership, which included serving as the executive director of a Ford Foundation initiative to help revitalize several Philadelphia inner-city neighborhoods. From 1979 through 1982, Mr. Price served in the Pennsylvania State Senate. He is a graduate of the University of Pennsylvania Law School and Harvard College.
Sister Marilyn Ross Sister Marilyn is Executive Director of the Holy Name Housing Corporation, a community-based corporation located in a low-income, predominantly African-American neighborhood in Omaha. Holy Name produces quality, affordable homes for low- and moderate-income families. Sister Marilyn has been associated with the corporation since 1983, first as development director and then as project director for a HUD technical assistance grant. She has been its Executive Director since 1987. In 1988-89, she participated in a National Internship in Community Development with the Development Training Institute in Baltimore. Sister Marilyn was instrumental in establishing Omaha 100, a nonprofit lending consortium that provides technical and financial assistance to help low-income home buyers; and served as its interim executive director from 1990 to 1993. Omaha 100's board of directors and advisory board have broad community-based representation--from the banking community, government, private sector, nonprofit, and religious sectors.
Gail Small Ms. Small is the founding Director of Native Action, a national model for citizen empowerment on Indian reservations. Native Action has established national precedents in federal banking law, environmental policy, Indian voter discrimination, and youth law. Ms. Small is a member of the Northern Cheyenne Indian Tribe, which gave her the Cheyenne name "Ve-hon!-naut," meaning Head Chief Woman. One of ten children, she was born and raised by her parents on the Northern Cheyenne Indian Reservation. She has served as an elected member of the Northern Cheyenne Tribal Council and remains active in national Indian policy issues, as well as international indigenous issues. At the Fourth United Nations World Conference on Women and N.G.O. Forum--held recently in Beijing, China--Ms. Small was a speaker on indigenous human rights. Her work has earned her numerous awards, including Ms. Magazine's 1995 Gloria Steinem Women of Vision Award. Ms. Small received a bachelor's degree from the University of Montana and a law degree from the University of Oregon School of Law.
Yvonne S. Sparks Ms. Sparks is Executive Director of Neighborhood Housing Services of St. Louis, Inc. NHS-St. Louis works in four urban neighborhoods, two in the central city and two in near-ring suburbs. The twenty-year-old agency operates lending, home repair, home buyer training, home inspection, resident leadership, property insurance education, and counseling programs. Agency partners and supporters include neighborhood residents and organizations, lenders, insurers, Fannie Mae, and local government. Ms. Sparks has been a manager and executive in nonprofit and local government organizations for twenty years. She joined NHS-St. Louis in 1993. She also serves as vice-chairman of the Tax Increment Finance Commission for the City of St. Louis, as co-chair of the St. Louis Federal Reserve Bank's Mortgage Credit Partnership Insurance Task Force, as a member of the board of directors of the St. Louis Regional Housing Alliance, as a member of the steering committee of the National Insurance Task Force, and as a member of the advisory committee of the St. Louis Pew Civic Entrepreneur Initiative. Other Consumer Advisory Council members, whose terms continue through 1997 and 1998, are listed below.
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