For immediate release

The Federal Reserve Board on Friday named eleven new members to its Consumer Advisory Council for three-year terms and designated a new Chair and Vice Chair of the Council for 2005. The Council advises the Board on the exercise of its responsibilities under the Consumer Credit Protection Act and on other matters in the area of consumer financial services. The Council meets three times a year in Washington, D.C. Mark Pinsky was designated Chair; his term runs through December 2005. Mr. Pinsky is President and Chief Executive Officer for the National Community Capital Association. Lori Swanson was designated Vice Chair; her term on the Council ends in December 2006. Lori Swanson is Solicitor General for the Office of the Minnesota Attorney General. The eleven new members are: Stella Adams Durham, North Carolina Ms. Adams is the Executive Director of the North Carolina Fair Housing Center, a non-profit organization dedicated to equal housing opportunity and equal access. Her focus has been on elimination of predatory lending, support for community reinvestment, and education of communities about fair housing and fair lending issues. Ms. Adams's activism gave impetus to the passage of the North Carolina anti-predatory lending bill. Faith Anderson Fort Worth, Texas Ms. Anderson is Vice President of Legal Compliance and General Counsel for American Airlines Federal Credit Union. The credit union's offerings include savings and checking accounts, consumer and real estate loans, overdraft protection, ATM cards, debit and credit cards. Ms. Anderson is responsible for compliance and implementation of federal and state laws and regulations. Carolyn Carter Boston, Massachusetts Ms. Carter is Consultant for the National Consumer Law Center. She has experience with the Truth in Lending Act, particularly with respect to coverage issues, rescission, and remedies and defenses. Ms. Carter represents low-income consumers involving foreclosures, repossession, credit and usury, bankruptcy, debt collection, and the application of consumer protection laws to landlord-tenant matters. Michael Cook Bentonville, Arkansas Mr. Cook, Vice President and Assistant Treasurer for Wal-Mart Stores, Inc., has responsibility for domestic payment services and financial operations. His work supports global strategies for electronic payments and financial services. Mr. Cook has been instrumental in the formation of Wal-Mart's Financial Services Division. Donald S. Currie Brownsville, Texas Mr. Currie is the Executive Director of the Community Development Corporation of Brownsville, a nonprofit affordable housing provider. The organization's programs include single-family new construction, housing rehabilitation and reconstruction, affordable housing subdivisions, and the Colonia Self Help Center. Mr. Currie helped organize the Rio Grande Valley Multibank Corporation, a stockholder-held Community Development Financial Institution. Kurt Eggert Orange, California Professor Eggert is an Associate Professor of Law and Director of Clinical Legal Education and the Director of the Alona Cortese Elder Law Center at Chapman University School of Law. His specialties are consumer law and elder law, and he has particular expertise in predatory lending, abusive servicing, home equity fraud prevention, elder abuse, and consumer fraud. Deborah Hickok Ooltewah, Tennessee Ms. Hickok is the President and Chief Executive Officer of ACH Commerce, LLC. She is founder of the organization, which specializes in providing ACH processing services, software solutions, and consulting to financial institutions. She trains state banking examiners and consults on issues impacting ACH processing. Lisa Sodeika Prospect Heights, Illinois Ms. Sodeika is Senior Vice President of Corporate Affairs for HSBC North America Holdings Inc. Her responsibilities include directing community development, the Center for Consumer Advocacy, public relations, philanthropic services, and employee communications. She has experience in subprime lending and servicing, quality assurance and compliance, and community relations. Anselmo Villarreal Waukesha, Wisconsin Mr. Villarreal is the Executive Director of La Casa de Esperanza, Inc. He advocates for fair lending, works against predatory lending, encourages the use of banking services among immigrants, and promotes privacy and security. Mr. Villarreal is the Wisconsin representative of the Institute of Mexicans Abroad, which addresses issues related to community reinvestment, consumer protection regulations, consumer credit, privacy and electronic banking. Kelly K. Walsh Honolulu, Hawaii Ms. Walsh is Corporate Compliance and Community Reinvestment Act Officer for the Bank of Hawaii. Her responsibilities include oversight of the bank's compliance with all consumer laws and regulations. Ms. Walsh coordinates community development programs for the bank's service area, including the state of Hawaii, Guam, American Samoa, and Saipan. Ms. Walsh speaks before banking groups, such as the Consumer Bankers Association, and has authored several articles for the "ABA's Bank Compliance Magazine." Marva Williams Chicago, Illinois Ms. Williams is Senior Vice President of the Woodstock Institute, a community lending research and consulting organization engaged in applied research, policy development, and technical assistance to promote community economic development. She advocates for the needs of lower-income individuals and communities and for financial products and services to meet their needs. Council members whose terms continue through 2005 are: Susan Bredehoft Senior Vice President/Compliance Risk Management Commerce Bank, N.A. Cherry Hill, New Jersey Dan Dixon Group Senior Vice President World Savings Bank, FSB Washington, District of Columbia James Garner Senior Vice President and General Counsel North American Consumer Finance, Citigroup Baltimore, Maryland R. Charles Gatson Vice President and Chief Operating Officer Swope Community Builders Kansas City, Missouri W. James King President and Chief Executive Officer Community Redevelopment Group Cincinnati, Ohio Elsie Meeks Executive Director First Nations Oweesta Corporation Kyle, South Dakota Benjamin Robinson III President and Chief Executive Officer Innovative Risk Solutions, LLC Charlotte, North Carolina Diane Thompson Supervising Attorney Land of Lincoln Legal Assistance Foundation, Inc. East St. Louis, Illinois Clint Walker General Counsel/Chief Administrative Officer Juniper Bank Wilmington, Delaware Council members whose terms continue through 2006 are: Dennis L. Algiere Senior Vice President Compliance and Community Affairs The Washington Trust Company Westerly, Rhode Island Sheila Canavan Consumer Attorney Law Office of Sheila Canavan Moab, Utah Anne Diedrick Senior Vice President JPMorgan Chase Bank New York, New York Hattie B. Dorsey President and Chief Executive Officer Atlanta Neighborhood Development Partnership Atlanta, Georgia Bruce B. Morgan Chairman, President and Chief Executive Officer Valley State Bank Roeland Park, Kansas Mary Jane Seebach Executive Vice President, Chief Compliance Officer Countrywide Financial Corporation Calabasas, California Paul J. Springman Group Executive, Predictive Sciences Equifax Atlanta, Georgia Forrest F. Stanley Senior Vice President and Deputy General Counsel KeyBank National Association Cleveland, Ohio

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