Building Wealth Agenda

2008 A Symposium on Latino Wealth-Building Opportunities

The Annie E. Casey Foundation

Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities Building Wealth in a Troubled Economy:A Symposium on Latino Wealth-Building Opportunities

Building Wealth in a Troubled Economy

A Symposium on Latino Wealth-Building Opportunities

The Annie E. Casey Foundation

Building Wealth in a Troubled Economy:

Dear Participants:

A

s an institution dedicated to improving opportunities for Hispanic Americans, the National Council of La Raza (NCLR) has a long history of promoting policies and programs that address poverty, housing and insurance redlining, and financial insecurity. Over the last several years, NCLR has made significant investments in policy development, research, advocacy, and community programs that put families on the road to a more sustainable economic future. We would like to thank the Ford Foundation for its support of NCLR’s work in these areas, as well as the Annie E. Casey Foundation for its support of this event.

As financial markets have expanded, they have become increasingly complex. It has become harder for consumers to shop and compare financial products. Consequently, society’s most vulnerable populations—modest-income families, minorities, and the elderly—tend to pay more for their banking services. This is especially true for Latinos and immigrants who have historically been neglected by mainstream financial providers. Where mainstream banking institutions have left a hole, predatory lenders have been quick to fill the gap. Even in times of economic prosperity, Latino borrowers have paid more for credit than their White peers, relied on costly fringe financial transaction providers, and lacked basic savings and checking accounts. By 2050, Latinos will compose 29% of the population, compared to 14% today. Immigrants and their children will account for 82% of household growth between 2005 and 2050. The overall health of our economy and financial systems may well depend on the economic status of the nation’s Latino households.

A Symposium on Latino Wealth-Building Opportunities

Building Wealth in a Troubled Economy: A Symposium on Latino Wealth-Building Opportunities will examine wealth-building research, practice, and advocacy strategies. Because many of these efforts came into their own during a time of economic expansion, we must now understand how these models will translate when our credit markets are retracting and the nation faces general economic decline. We invite you to consider this and other questions posed throughout the symposium: • What does good debt look like? How will rising household debt impact the ability of Hispanic and immigrant families to achieve financial security?

• Looking beyond homeownership, what are the other threats to and opportunities for asset ownership?

• What will be the long-term impact of the high foreclosure rates among Latinos and immigrants?

As a participant in this symposium, we invite you to engage in the discussion on how to best move the field of wealth-building forward. It is our goal that today’s conversations feed the creation of a new, revived civil rights agenda that seeks to ensure equal financial opportunities for all families.

Sincerely, Eric Rodriguez Deputy Vice President Office of Research, Advocacy, and Legislation

Janis Bowdler Associate Director Wealth-Building Policy Project

Building Wealth in a Troubled Economy:

8:00

Coffee Starter

8:30

Welcome U.S. Senator Robert Menendez

Session I: Making the Case for a New Latino Wealth Agenda

9:00

A Fresh Perspective: The Status of Asset-Poor Communities In spite of the economic boom of the 1990s, research shows that increased income alone does not translate into economic security.

A family’s net wealth proves to be a greater indicator of whether it can provide for itself in the event of a financial hardship or pass wealth on to its children. This panel will examine the growth of the asset development field and its relative successes and challenges.

Speakers will discuss the historical roots of the racial/ethnic wealth divide in America, as well as current economic and social trends that ­demonstrate the need for a public policy focus on wealth-building.

Moderator: • Aracely Panameño, Director of Latino Affairs, Center for Responsible Lending Panelists: • Deepak Lamba-Nieves, Research Director, Center for the New Economy • Barbara J. Robles, Ph.D., Faculty Director, Latino Financial Issues Program, Center for Community Development and Civil Rights, Arizona State University • Christian E. Weller, Senior Fellow, Center for American Progress

A Symposium on Latino Wealth-Building Opportunities

10:00

The Role of Debt in Building Wealth With reports of household debt and incidences of predatory lending on the rise, many question whether debt instruments such as home or consumer loans can be used to successfully build wealth in low-i­ncome and immigrant communities. At the same time, many for-profit and nonprofit lenders are exploring ways to introduce new products to this target market. With the help of experts serving as facilitators, this session will use small group discussions to dig deeper into several underlying themes related to household debt and wealth-building strategies. Each group will explore the distinctions between good and bad debt, research and field-based demonstration projects, and the roles and responsibilities of financial institutions in serving low-income and low-wealth individuals.

Small groups include: “Is Debt a Bridge to Financial Security? A Look at Credit Cards” Facilitated by: • Pastor Herrera, Jr., Director, Los Angeles County Department of Consumer Affairs • Lauren Saunders, Managing Attorney, National Consumer Law Center “Driving Opportunities: The Role of Cars in Building Wealth” Facilitated by: • Irene Skricki, Program Manager for Assets and Savings, Family Economic Success Unit, Annie E. Casey Foundation • Margy Waller, Executive Director, The Mobility Agenda “The Role of Community-Based Organizations and Programs in Wealth-Building Strategy” Facilitated by: • Edna McLaughlin, Community Development Specialist, National Council of La Raza • Marisol Miramontes, Nonprofit Consultant “How Fair is FICO? Giving Credit Where Credit is Due” Facilitated by: • José Quiñonez, Executive Director, Mission Asset Fund • Walkiria Pool, Asset Development Specialist, National Council of La Raza “Who Needs Short-Term Loans?”

Facilitated by: • Laura Arce, Senior Program Manager, Corporation for Enterprise Development • Brenda Muñiz, Legislative Director, ACORN

Building Wealth in a Troubled Economy:

Session II: Facing Threats and Opportunities Moderator

12:15

Monica Lozano, Publisher and CEO of La Opini贸n

Key Note Speaker

Janet Murgu铆a, President and CEO, National Council of La Raza

1:00 2:30

The Role of Debt in Building Wealth: Reports from Small Group Sessions Facilitators from the morning sessions will report back on group dialogue, findings, and conclusions.

BREAK

A Symposium on Latino Wealth-Building Opportunities

Session III: Rethinking a National Wealth-Building Strategy

2:45 3:30

Featured Speaker:

Donald E. Bowen, Senior Vice President of Programs, National Urban League

Wealth Protection: Building the Civil Rights Agenda The current economic slowdown challenges advocates and community leaders to consider whether asset strategies developed in times of relative prosperity are still meaningful. At the same time, a new presidential administration coming in 2009 will likely create opportunities to launch innovative and aggressive initiatives. This panel will examine major public policies and legislative proposals aimed at addressing the racial and ethnic wealth divide and identify gaps between the proposals and community needs. It will make recommendations as to how our advocacy agenda should be shaped for a new debate in 2009.

Moderator: • Allen Fishbein, Director of Credit and Housing Policy, Consumer Federation of America Panelists: • Luis Pastor, CEO, Latino Community Credit Union • Ellen Seidman, Director, Financial Services and Education Project, New America Foundation • Meizhu Lui, Coauthor, The Color of Wealth

5:00

Closing Remarks

5:30

Networking Reception

Building Wealth in a Troubled Economy: Janet Murguía

Janet Murguía has become a key figure among the next generation of leaders in the Latino community. Since January 1, 2005 she has served as President and CEO of NCLR, the largest national Hispanic civil rights and advocacy organization in the U.S. Ms. Murguía began her career in Washington, DC as Legislative Counsel to former Kansas Congressman Jim Slattery, serving for seven years. She then worked at the White House from 1994 to 2000, ultimately serving as Deputy Assistant to President Clinton, providing strategic and legislative advice to the president on key issues. She served as Deputy Director of Legislative Affairs, managing the legislative staff and acting as a senior White House liaison to Congress.

Ms. Murguía is currently a Board member of the Independent Sector, a coalition of leading nonprofits, foundations, and corporations committed to connecting, informing, and advocating on behalf of the nonprofit and philanthropic community. She is also a member of the Merrill Lynch Diversity & Inclusion Council and is an executive committee member of the Leadership Conference on Civil Rights.

In addition, Ms. Murguía sits on the Board of the Hispanic Association on Corporate Responsibility and the National Hispanic Leadership Agenda.

Ms. Murguía grew up in Kansas City, Kansas. She received three degrees from the University of Kansas: a B.S. in journalism, a B.A. in Spanish, and a J.D. from the School of Law.

Senator Robert Menendez

Since 1992, Senator Robert Menendez has been working in Washington on behalf of New Jersey families. Elected by his colleagues in 2002 as Chairman of the House Democratic Caucus, he became the highest-ranking Hispanic in congressional history. After being appointed by New Jersey Governor Jon Corzine, Senator Menendez was sworn in to the Senate on January 18, 2006. In November of that year, the people of New Jersey elected him to serve a full six-year term as Senator. He currently serves on the Senate Committees on Banking, Housing and Urban Affairs; Energy and Natural Resources; Budget; and Foreign Relations. The senator is also Chairman of the Subcommittee on International Development and Foreign Assistance, Economic Affairs, and International Environmental Protection. Previously, he has served as a mayor, state legislator, and school board member.

Senator Menendez recently introduced legislation aimed at protecting credit card consumers and has been a strong legislative advocate for eliminating predatory lending and increasing financial and housing counseling programs. He received his bachelor’s degree from St. Peter’s College in Jersey City and his law degree from Rutgers University.

A Symposium on Latino Wealth-Building Opportunities

Laura V. Arce

Laura V. Arce is Senior Program Manager at the Corporation for Enterprise Development (CFED). She is a member of the Field Development team where she helps manage the Self-Employment Tax Initiative, and she is also a member of the Applied Research and Innovations team where she manages policy for CFED’s Innovations in Manufactured Homes (I’M HOME) initiative. Ms. Arce has worked on Capitol Hill as well as for a public interest lobbying firm. She was previously Director of Community Development for the National Council of La Raza. Ms. Arce holds a B.A. in interdisciplinary studies from the University of California, Berkeley and a master’s degree in community and regional planning from the State University of New Jersey, Rutgers.

Donald E. Bowen

As Senior Vice President of Programs at the National Urban League (NUL), Don Bowen leads the organization’s programmatic efforts to help African American individuals and communities secure economic self-reliance and parity. During his 23-year tenure at the Urban League, Mr. Bowen was Program Director, Vice President of Programs, and President and CEO of the Urban League of Broward County, Florida. Under his innovative and principle-centered leadership, the Urban League of Broward County became one of the strongest, most effective, most respected, and financially empowered affiliates in the country. Mr. Bowen has also served the National Urban League as Executive on Loan responsible for NUL’s Hurricane Katrina Relief efforts. He is responsible for the following divisions: Education and Youth Development, Entrepreneurship and Business Development, Health and Quality of Life, Housing and Community Development, Workforce Development, and the Black Executive Exchange Program.

A New Jersey native, Mr. Bowen obtained a master’s degree in social work from Virginia Commonwealth University. His post-graduate experience includes positions as a marital and family therapist, Director of the Upward Bound Program at Johnson C. Smith University, and Training Director for Mecklenburg County Government.

Allen J. Fishbein

Allen J. Fishbein is the Director of Housing and Credit Policy for the Consumer Federation of America. He previously served at the U.S. Department of Housing and Urban Development as Senior Advisor for Government-Sponsored Enterprises Oversight, where he supervised the establishment of affordable housing goals for Fannie Mae and Freddie Mac. Mr. Fishbein is also former General Counsel for the Center for Community Change and he has led the national nonprofit organization’s pioneering work on community reinvestment and fair lending.

Mr. Fishbein frequently serves as a congressional witness and is interviewed by the news media. He has written numerous articles and authored publications and reports on mortgage lending and the current foreclosure crisis. He has been honored by the District of Columbia Bar as “Consumer Lawyer of the Year” and awarded the Senator William Proxmire Award for career achievement by the National Community Reinvestment Coalition.

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Building Wealth in a Troubled Economy: Pastor Herrera

Pastor Herrera, Jr. has been involved in the field of consumer protection for over 30 years. Mr. Herrera was appointed Director of the Los Angeles County Department of Consumer Affairs in 1991.

The Department provides consumer protection services, including consumer counseling, complaint mediation and investigation, and consumer education. Mr. Herrera serves as a board member at various national and local nonprofit organizations and has collaborated in several published works. In 2008 his department was recognized as “Consumer Protection Agency of the Year” by the National Association of Consumer Affairs Administrators. He is a graduate of the University of California, Los Angeles, a native of Los Angeles, and he is fluent in Spanish.

Deepak Lamba-Nieves

Deepak Lamba-Nieves joined the Center for the New Economy shortly after completing his master of city planning degree at the University of California, Berkeley, where he concentrated on regional and economic development planning with a focus on high-­technology industries and economic development institutions. He has ample experience in the field of nonprofit community development, policy advocacy, and housing, and he has worked for numerous organizations in the San Francisco Bay Area and San Juan, Puerto Rico, including PolicyLink, LISC, San Juan NHS, and Neighborhood Reinvestment Corporation.

Mr. Lamba-Nieves is a Truman Scholar and works closely with the Harry S. Truman Scholarship Foundation in the selection of prospective scholars. Currently, he teaches geography and planning courses at the Social Sciences College of the University of Puerto Rico, Río Piedras campus, where he graduated summa cum laude in 1998 with a B.A. in economics.

Monica Lozano

Monica Lozano is Publisher and CEO of La Opinión, the nation’s largest Spanish language daily newspaper as well as Senior Vice President of Impremedia, the top Hispanic news and information media company in the United States in print and online. La Opinión’s award-winning editorial content reaches half a million readers daily and has established the paper as a leader in the coverage of issues important to the Latino community. It has been recognized by numerous journalistic, civic, and business organizations. The paper has been involved in public information campaigns designed to empower the Latino community in the areas of health, economic advancement, immigration, and education. La Opinión and Impremedia are national partners to the ya es hora campaign, targeting Latino civic participation in the presidential election. Ms. Lozano serves on the board of directors of the Walt Disney Company and Bank of America Corporation. She is involved in numerous nonprofit organizations, including the National Council of La Raza, where she served as Chair of the Board of Directors for three years.

A Symposium on Latino Wealth-Building Opportunities

11

Meizhu Lui

Meizhu Lui most recently was Executive Director of United for a Fair Economy and describes herself now as a freelance troublemaker. She was a food service worker and AFSCME activist, becoming the first Asian to be elected President of a local union in Massachusetts. Leading a campaign with Health Care for All Massachusetts to hold hospitals accountable to the communities surrounding them, the first statewide hospital community benefits guidelines were established. Her ability to educate and engage ordinary people for policy action to eliminate racial and gender inequality has been recognized by numerous organizations. Ms. Lui is an inductee of the YWCA’s Academy of Women Achievers, a 2007 Barr Fellow, and she served on the Center for American Progress’ National Initiative to End Poverty. She is a trustee of the Hyams Foundation and a member of Freedom Road Socialist Organization.

Her articles have appeared in a variety of publications and she recently coauthored The Color of Wealth: The Story Behind the U.S. Racial Wealth Divide.

Edna McLaughlin

Edna McLaughlin, Community Development Specialist, began her work with the National Council of La Raza in July 2007. She provides technical assistance and training activities to NCLR Homeownership Network Affiliates from the Phoenix, AZ program office.

Ms. McLaughlin brings with her 15 years of housing counseling and program management experience, having worked for a nonprofit affordable housing developer in Arizona and Nevada.

Marisol Miramontes

Marisol Miramontes, M.U.P. has been working on housing-related issues in the nonprofit sector since May 2003. She began her career working with project management of real estate development, later focusing on program management for counseling services. Ms. Miramontes has conducted a variety of pre- and post-purchase workshops as well as individual counseling. Workshops and counseling sessions have dealt with issues in financial literacy, budget and credit review, and affordability analysis. She has also guided families through refinancing and foreclosure prevention.

Ms. Miramontes was born in Chicago. She obtained her master of urban planning and bachelor of business administration degrees from the University of Illinois.

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Building Wealth in a Troubled Economy: Brenda Muñiz

Brenda Muñiz is National Legislative Director at the Association of Community Organizations for Reform Now (ACORN), where she oversees the development and implementation of ACORN’s national policy agenda and advocacy operations on issues affecting low- and moderate-income families, including housing, financial services, immigration, election reform, education, taxes, and budget.

Prior to joining ACORN, Ms. Muñiz worked as a consultant and Financial Services Policy Analyst at the National Council of La Raza.

At NCLR, Ms. Muñiz served as an advisor and lead spokesperson for NCLR on Hurricane Katrina-related disaster response issues affecting the Latino community. Previously, she led the banking and financial services policy agenda for NCLR, which involved conducting policy analysis, legislative, and advocacy activities in banking, financial services, financial education, predatory lending, and tax policy. Ms. Muñiz also worked as a legislative assistant with both Congressman Lloyd Doggett and Congressman Ciro Rodriguez in Washington, DC, where she provided analysis of legislation related to financial services, housing, veteran affairs, health, education, immigration, trade, border issues, and welfare.

Ms. Muñiz holds a bachelor’s degree in history from Texas A&M University and a master’s degree in public administration from the University of Houston.

Aracely Panameño

Aracely Panameño is a Latina leader, activist, and spokesperson at the domestic and international level. For more than 20 years she has worked to improve Latina women’s health, migrant workers’ rights, education, immigration issues, and economic justice. She is the Founder and first Executive Director of National Latina Institute for Reproductive Health, a national nonprofit education and advocacy organization. She is a published author, accomplished public speaker, media commentator, reporter, columnist, grassroots organizer, coalition builder, and direct lobbyist. She joined the Center for Responsible Lending in December of 2004 as Director for Latino Affairs.

Ms. Panameño holds a bachelor’s degree in business management from The Catholic University of America in Washington, DC and is an M.B.A. in finance candidate at Johns Hopkins University in ­ Baltimore, MD.

A Symposium on Latino Wealth-Building Opportunities

13

Luis Pastor

Luis Pastor, a native of Spain, came to the United States in 2000 with his wife, who was working toward her M.B.A. at Duke University.

He has a degree in economics and business administration from Universidad Complutense de Madrid, a master’s in human resources from Centros de Estudios Fiancieros in Madrid, and an M.B.A. from Instituto de Empresa in Madrid.

Mr. Pastor began working at the Latino Community Credit Union (LCCU) as a volunteer three months after its inauguration. One month later he became the manager and four months later, the CEO. He oversaw LCCU’s expansion to five branches and a central services location in its first three years. During his tenure, the membership has grown from 400 to over 50,000 members, becoming the fastest growing credit union in the U.S.

Walkiria Pool

Walkiria Pool is an Asset Development Specialist with the National Council of La Raza, focusing on community development, community and housing assistance, and asset development. Ms. Pool currently manages NCLR’s Economic Mobility Centers and provides operational assistance to NCLR’s Homeownership Network. She earned her master’s degree in community economic development with graduate certificates in public policy and women in politics from Southern New Hampshire University. As an undergraduate, Ms. Pool earned her bachelor’s degree from the University of Massachusetts, Boston, majoring in psychology. Previously, Ms. Pool served as the IDA Program Coordinator for AmeriCorps at Allston Brighton Community Development Corporation and as the Youth Program ­Director in the Family Assets Building division of Lawrence ­Community Works.

José Quiñonez

José Quiñonez is the founding Executive Director of the Mission Asset Fund, the first neighborhood-based, community-led organization that aims to support a full continuum of asset-building opportunities for low-income and immigrant families in San Francisco’s historic Mission District. He is a graduate of the University of California, Davis.

He went on to earn a master of public affairs degree at Princeton University’s Woodrow Wilson School of Public and International Affairs. After graduation, he joined the office of Congressman Ruben Hinojosa, where he worked as Legislative Assistant. Learning the ways of Capitol Hill, Mr. Quiñonez went on to work as a lobbyist for various nonprofit organizations in Washington, DC, advocating for an array of issues including immigration, hunger, welfare reform, and other poverty-related issues.

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Building Wealth in a Troubled Economy: Dr. Bárbara Robles, Ph.D.

Bárbara Robles joined the College of Public Programs at Arizona State University as an Associate Professor in August 2005. She currently sits on the Board of Economic Advisors for the U.S. Hispanic Chamber of Commerce Foundation. She is the author of Financial Services and Product Usage by Latinos in the U.S. (2007) and a coauthor of The Color of Wealth: The Story Behind the U.S. Racial Wealth Divide (2006). Formerly, Barbara served as Revenue Estimator for the Joint Committee on Taxation, scoring tax legislation for Congress. Her research focuses on Latino wealth inequality, southwest border family and community asset building linked to the Earned Income Tax Credit, and Latino micro-businesses and entrepreneurship.

Lauren K. Saunders

Lauren K. Saunders is Managing Attorney at the National Consumer Law Center’s Washington, DC office, where she handles legislative, administrative, and other advocacy efforts in the financial services area. She is coauthor of Combating Foreclosure Rescue Scams (2006) and a contributing author to Foreclosures (2nd ed., 2007), Fair Credit Reporting (6th ed., 2006), Credit Discrimination (Supp. forthcoming, 2008), Fair Debt Collection (6th ed. forthcoming, 2008), and Consumer Banking and Payments Law (Supp. forthcoming, 2008). She previously directed the Federal Rights Project of the National Senior Citizens Law Center, was Deputy Director of Litigation at Bet Tzedek Legal Services in Los Angeles, and was an associate at the public interest firm Hall & Phillips. She graduated magna cum laude from Harvard Law School, holds a master’s in public policy from Harvard’s Kennedy School of Government, and earned her B.A. from ­Stanford University.

Ellen Seidman

Ellen Seidman is Director of the Financial Services and Education Project in the Asset Building Program of the New America Foundation. In addition to her work at New America, Ms. Seidman continues to serve as Executive Vice President, National Policy and Partnership Development, at ShoreBank Corporation. She also serves as Chair of the Center for Financial Services Innovation, a ShoreBank nonprofit affiliate that helps financial services providers responsibly and sustainably serve underbanked consumers. Before joining ShoreBank, Ms. Seidman served as Senior Counsel to the Democratic staff of the Financial Services Committee of the U.S. House of Representatives. From 1997 to 2001, she was Director of the U.S. Treasury Department’s Office of Thrift Supervision, and she was also a director of the Federal Deposit Insurance Corporation and Chairman of the Board of the Neighborhood Reinvestment Corporation. From 1993 to 1997, Ms. Seidman served as Special Assistant for Economic Policy to President Clinton. She has also held senior positions at Fannie Mae, the United States Treasury Department, and the United States Department of Transportation.

A Symposium on Latino Wealth-Building Opportunities

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Irene Skricki

Irene Skricki is Program Manager for Assets and Savings in the Family Economic Success unit at the Annie E. Casey Foundation, a private philanthropy group dedicated to helping build better futures for disadvantaged children in the United States. She has been at the Foundation since 1996 and is responsible for work on asset development, consumer financial services, and the Earned Income Tax Credit.

Previously, Ms. Skricki worked at the Ford Foundation and the Coalition on Human Needs. She holds a master’s degree in public policy from Princeton University’s Woodrow Wilson School of Public and International Affairs and a bachelor’s degree from the Massachusetts Institute of Technology.

Margy Waller

Margy Waller is Executive Director of The Mobility Agenda and serves as a Senior Fellow at the Community Service Society. Previously, she was Visiting Fellow at the Brookings Institution with a joint appointment in the economic studies and metropolitan policy programs. Prior to Brookings, she was Senior Advisor on domestic policy in the Clinton-Gore White House. She also served as a Congressional Fellow in the office of Representative Eric Fingerhut (D-OH). Ms. Waller has written extensively on low-wage work and transportation issues. She received her B.S. in communication studies from Northwestern University and a law degree from The Ohio State University.

Dr. Christian Weller, Ph.D.

Dr. Christian Weller is a Senior Fellow at the Center for American Progress and an Associate Professor of Public Policy at the University of Massachusetts, Boston. His expertise is in the area of retirement income security, macroeconomics, money and banking, and international finance. He is also a research scholar at the Political Economy Research Institute at the University of Massachusetts, Amherst. Prior to joining the Center, Dr. Weller was on the research staff at the Economic Policy Institute, where he remains a research associate.

He has also worked at the Center for European Integration Studies at the University of Bonn in Germany, in the Department of Public Policy of the AFL-CIO in Washington, DC, and in banking in Germany, Belgium, and Poland. Dr. Weller holds a Ph.D. in economics from the University of Massachusetts, Amherst.

The National Council of La Raza (NCLR) –the largest national Hispanic civil rights and ­advocacy organization in the United States– works to improve opportunities for Hispanic Americans. Through its network of nearly 300 affiliated community-based organizations (CBOs), NCLR reaches millions of Hispanics each year in 41 states, Puerto Rico, and the ­District of Columbia. To achieve its mission, NCLR conducts applied research, policy analysis, and advocacy, providing a Latino perspective in five key areas – assets/investments, civil rights/ immigration, education, employment and economic status, and health. In addition, it provides capacity-building assistance to its Affiliates who work at the state and local level to advance ­opportunities for individuals and families.

For more information on the formation of NCLR and NCLR’s history, please visit www.nclr.org.