TASK FORCE ON LENDING EQUITY WITHIN FINANCIAL INSTITUTIONS PROVIDING STATE DEPOSITORY SERVICES

Verna L. Jones, Co-Chair (appointed by Senate President & House Speaker)
Michael L. Vaughn, Co-Chair (appointed by Senate President & House Speaker)

Appointed by Governor: James C. Ballentine; Earnest E. Hines; Vera Elizabeth Holman; Franklin M. Lee, Esq.; Dargeelyn F. Loftin; Regina D. McManus, Esq.; John A. Petty. Terms expire 2005.

Appointed by Senate President: James E. DeGrange, Sr.; Lisa A. Gladden; J. Robert Hooper.

Appointed by House Speaker: Talmadge Branch; Jeannie Haddaway; Herman L. Taylor, Jr.

Appointed by Maryland Bankers Association: Gordon Cooley; Sandra Workman.

Ex officio: Bernadette T. Benik, designee of State Treasurer; Charles W. Turnbaugh, Commissioner of Financial Regulation.

Staff: Tamela D. Burt; T. Ryan Wilson.

c/o Dept. of Legislative Services
Legislative Services Building, 90 State Circle, Annapolis, MD 21401 - 1991
(410) 946-5350, (301) 970-5350
e-mail: tami.burt@mlis.state.md.us

The Task Force on Lending Equity within Financial Institutions Providing State Depository Services formed in December 2004 (Chapter 115, Acts of 2004). The Task Force charge was to develop criteria to evaluate what degree of access to credit and capital can be secured by minority business enterprises from financial institutions that provide or seek to provide depository services to the State. Whether access to credit and capital is adequate was to be determined by data identified by the Task Force.

Additional criteria for selecting financial institutions as State depositories was recommended by the Task Force to the State Treasurer. This criteria was to ensure that such institutions provide adequate opportunities for access to credit and capital for minority business enterprises. Additionally, the Task Force developed a strategy to implement a lending equity policy that may incorporate the findings of the Governor's Task Force on Centralized Bidder Registration for Minority Business Procurement.

The Task Force completed its final report on December 31, 2005.

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