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Y 4.6 74/7:6 73/24
VCOMMUNITY REINVESTMENT ACT COMPLIANCE:

NEW YORK CITY BANKS

HEARING

BEFORE A

SUBCOMMITTEE OF THE

COMMITTEE ON/
GOVERNMENT OPERATIONS
HOUSE OF REPRESENTATIVES

NINETY-SEVENTH CONGRESS

SECOND SESSION

MARCH 29, 1982

Printed for the use of the Committee on Government Operations

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U.S. GOVERNMENT PRINTING OFFICE

94-869 0

WASHINGTON : 1982

COMMITTEE ON GOVERNMENT OPERATIONS

JACK BROOKS, Texas, Chairman L. H. FOUNTAIN, North Carolina

FRANK HORTON, New York DANTE B. FASCELL, Florida

JOHN N. ERLENBORN, Mlinois BENJAMIN S. ROSENTHAL, New York CLARENCE J. BROWN, Ohio DON FUQUA, Florida

PAUL N. McCLOSKEY, JR., California JOHN CONYERS, JR., Michigan

THOMAS N. KINDNESS, Ohio CARDISS COLLINS, Illinois

ROBERT S. WALKER, Pennsylvania JOHN L. BURTON, California

M. CALDWELL BUTLER, Virginia GLENN ENGLISH, Oklahoma

LYLE WILLIAMS, Ohio ELLIOTT H. LEVITAS, Georgia

JOEL DECKARD, Indiana DAVID W. EVANS, Indiana

WILLIAM F. CLINGER, JR., Pennsylvania TOBY MOFFETT, Connecticut

RAYMOND J. MCGRATH, New York HENRY A. WAXMAN, California

HAL DAUB, Nebraska FLOYD J. FITHIAN, Indiana

JOHN HILER, Indiana TED WEISS, New York

WENDELL BAILEY, Missouri MIKE SYNAR, Oklahoma

LAWRENCE J. DENARDIS, Connecticut EUGENE V. ATKINSON, Pennsylvania JUDD GREGG, New Hampshire STEPHEN L. NEAL, North Carolina

MICHAEL G. OXLEY, Ohio
DOUG BARNARD, JR., Georgia
PETER A. PEYSER, New York
BARNEY FRANK, Massachusetts
HAROLD WASHINGTON, Illinois
TOM LANTOS, California
BARBARA B. KENNELLY, Connecticut

William M. JONES, General Counsel

John E. MOORE, Staff Administrator
John M. DUNCAN, Minority Staff Director

COMMERCE, CONSUMER, AND MONETARY AFFAIRS SUBCOMMITTEE

BENJAMIN S. ROSENTHAL, New York, Chairman JOHN CONYERS, JR., Michigan

LYLE WILLIAMS, Ohio EUGENE V. ATKINSON, Pennsylvania HAL DAUB, Nebraska STEPHEN L. NEAL, North Carolina

WILLIAM F. CLINGER, JR., Pennsylvania DOUG BARNARD, JR., Georgia

JOHN HILER, Indiana
PETER A. PEYSER, New York
BARBARA B. KENNELLY, Connecticut

Ex OFFICIO

JACK BROOKS, Texas

FRANK HORTON, New York
PETER S. BARASH, Staff Director
THEODORE J. JACOBS, Chief Counsel
DONALD P. TUCKER, Chief Economist
STEPHEN R. McSPADDEN, Counsel

(11)

CONTENTS

Page

Hearing held on March 29, 1982.

1

Statement of-

Druger, Leonard N., vice president, credit policy, New York Banking

Division, Citibank, N.A., accompanied by Joseph Bowen, vice president,

community development; Peg Swezey, director, government and com-

munity affairs for Queens; and Janet Thompson, vice president, urban

and community affairs department

90

Golden, Howard, president of the Borough of Brooklyn, accompanied by

Lindsay Newland Bowker, assistant to the president.

8

Hayes, Roger, New York City Coalition Against Redlining..

2

Hosey, George, vice president of Manufacturers Hanover Trust Co..

79

Hummer, Harry, vice president and sector credit executive for consumer

credit for the Chase Manhattan Bank, accompanied by Arthur J. Hum-

phrey, Jr., vice president and director of community development, and

Terry Molloy, vice president and division executive for Queens, Nassau,

and Suffolk Counties...

56

Rosenthal, Hon. Benjamin S., a Representative in Congress from the

State of New York, and chairman, Commerce, Consumer, and Mone-
tary Affairs Subcommittee: Opening statement..

1
Schochat, Michael, vice president, Chemical Bank, urban services group ... 116

Letters, statements, etc., submitted for the record by-

Druger, Leonard N., vice president, credit policy, New York Banking

Division, Citibank, N.A.: Attachments to prepared statement.... 104-115

Golden, Howard, president of the Borough of Brooklyn: Prepared

statement

Hosey, George, vice president of Manufacturers Hanover Trust Co.: Ap-
pendixes to prepared statement.

83-88
Humphrey, Arthur J., Jr., vice president and director of community

development for the Chase Manhattan Bank: Prepared statement...... 68–78
Rosenthal, Hon. Benjamin S., a Representative in Congress from the

State of New York, and chairman, Commerce, Consumer, and Mone-
tary Affairs Subcommittee: Copy of shareholder resolution

60-61

Schochat, Michael, vice president, Chemical Bank, urban services group:

Prepared statement.....

120-132

(III)

92ST
03/94 53-1

47

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