Asian Americans Could Provide Swing Vote in Future Elections

faith picture

FAITH BAUTISTA AND ALAN THIAN-SPECIAL TO THE BEE
12/13/2014 4:00 PM

With the 2014 midterm elections behind us, one demographic has both Republicans and Democrats buzzing. Based on exit polling of the 2014 midterm elections, 50 percent of Asian American support went to the Republicans. This is in stark contrast to 2012, when President Barack Obama and the Democrats won the Asian American vote in a landslide with 73 percent.This significant swing among Asian American voters should signal to both parties that 20 million Asian Americans cannot be locked in politically and that they could very well be the unknown quotient that tips the scales in future elections.

Asian Americans are the nation’s fastest-growing swing vote, outpacing Hispanic Americans in terms of annual growth. The growing influence of this voting bloc is evidenced in certain gubernatorial races and in many close Senate and House races in 2014 where they tipped the scales, such as Virginia’s 10th Congressional District race.

Even in California – home to almost one-third of all Asian Americans in the nation – where one party appears to have a lock, Republicans focused on a long-term strategy of courting the Asian American vote. In Orange County, the Republican Party expended the time and funding necessary to recruit three Asian American candidates for the California Senate and Assembly races.

 

As a result, we now have two new Asian American assemblywomen, Ling-Ling Chang and Young Kim, and one new Asian American state senator, Janet Nguyen. This small effort has changed the dynamics in the California Assembly since the Democrats no longer have a supermajority.

The takeaway from the 2014 elections is that Asian Americans are not committed Democrats. In a poll by the AAPI Civic Engagement Fund, 40 percent of the Asian American electorate still does not identify with either political party. The Asian American constituency is therefore persuadable on key issues affecting them. All that may be required is just a better and deeper understanding of Asian American voters.

The same poll also showed that, although the Asian American electorate is a diverse voting bloc, there are many commonalities. The economy, jobs, education, and health care represent the top four issues among Asian Americans ethnic groups. This includes upward employment mobility, small business development and homeownership, which is the dream of 95 percent of Asian Americans.

However, a majority of Asian Americans, 56 percent, were never contacted by either party about voting or registering to vote for the 2014 elections. This failure, combined with the low turnout of Asian Americans, could be a future opportunity for both political parties to substantially increase their efforts to engage the growing Asian American electorate.

For example, in the 2014 Virginia Senate race, it appears that numerous campaign outreach events held at Chinese, Korean, Vietnamese, Indian and Filipino community centers might have tipped the scales for Sen. Mark Warner. In a state where Asian Americans represent 3 percent of total voters, as compared to 12 to 15 percent in California, Warner secured 68 percent of the Asian vote, a margin of support greater than his margin of victory. Warner won with 49 percent of the vote, Republican Ed Gillespie had 48 percent.

If both parties committed more efforts to engage Asian American voters, a little investment could well make the difference in the 2016 presidential election and future elections, even in seemingly one-party states such as California.

Link to the Original Article:  http://www.sacbee.com/opinion/op-ed/soapbox/article4436176.html#storylink=cpy

Letter to the Federal Reserve and OCC Strongly Advocating CIT Group’s Proposed Acquisition of OneWest Banc

Click HERE to download a PDF of this letter.

November 7, 2014

 

Janet Yellen
Chair, Federal Reserve
20th Street and Constitution Avenue N.W.
Washington, D.C. 20551 
Thomas Curry
Comptroller of the Currency
400 7th Street, SW
Washington, D.C. 20219

Why Many Black, Latino and Asian American Church, Minority Business and Minority Nonprofits Support the Acquisition of OneWest by CIT

Dear Chairwoman Yellen and Comptroller Curry,

As this letter indicates, a broad coalition of minority community groups support, for a number of reasons set forth below, this merger based upon the number of accomplishments and an even greater number of commitments by OneWest Bank pursuant to CRA including the commitment to secure “Outstanding” CRA ratings and to take a number of actions to support Chairwoman Yellen’s commitments to end income inequality.

The National Asian American Coalition is part of a major coalition of Black, Latino and Asian American organizations, from faith-based to small business to non-profits, that has played a major role, beginning with the Great Recession of 2008, in attempting to ensure that the financial industry avoids a repetition of the extraordinary crisis that may have begun as early as 2001 when some of us met with then Chairman Alan Greenspan to discuss our concerns relating to lax bank regulatory oversight.

We and our colleagues within the coalition have frequently met with all the federal banking regulators in DC, as well as with the leadership of FHFA, HUD and key congressional leaders from Republican Darrell Issa to Democrat Maxine Waters. We have also met with the leadership from more than thirty financial institutions, including leadership from the four “Too Big to Fail Banks” Citigroup, Bank of America, Wells Fargo and Chase, as well as a number of so-called “Systemically Important” banks such as Union Bank, US Bancorp, Capitol One, Regions Bank and Bank of the West.

We have also met with a number of banks that may soon be so-called “Systemically Important” including First Republic Bank and City National Bank. In addition, we have met with the leadership from mid-sized banks such as Cathay Bank, East West Bank and Pacific Western Bank, as well as a large number of community banks.

The “we” in our coalition, includes the leadership of the National Hispanic Christian Leadership Conference of 40,000 Latino Churches, the leadership of the 5,000 African Methodist Episcopal Churches, the leadership of the largest Latino Chamber of Commerce and one of the largest pan-Asian American advocacy groups in the nation. Virtually all will be affected by CIT’s acquisition of OneWest Bank.

We and the members of the minority coalition, some of whom will be submitting separate letters of support, all support the merger. However, before describing why we support the merger, we wish to offer some observations on “Systemically Important” banks and the present inadequacies of CRA particularly in its implementation by banks and regulators.

Support for Bank Regulatory Reforms with Some Qualifications

Our coalition strongly supported the Dodd-Frank Act and worked frequently with Congressman Barney Frank and Maxine Waters on various provisions. We also were initially strong supporters of the Volker Rule (until it became too complex and convoluted to be effectively enforced) and are deeply concerned about the lack of competition and the financial risks relating to “Too Big to Fail” banks. That is, we support much stronger competition than that provided by just Bank of America, Wells Fargo, Chase and Citigroup. For example, we believe that Governor Tarullo’s recent meeting with the leadership from all of the so-called “Systemically Important” banks with up to $150 billion in assets is a positive sign for possible change in the size required to be considered “Systemically Important”.

Specifically, we do not agree that a bank is automatically “Systemically Important” at the $50 billion asset level. Instead, we believe that in order to create more effective competition in addressing “Too Big to Fail” banks, banks with under $500 billion in assets should be treated as “Important” banks but not necessarily “Systemically Important” banks. For example, no bank should automatically be considered “Systemically Important” until it reaches a minimum of $100 billion in assets. Further, the stress test should be proportional to the size of the institution from $100 billion to under $500 billion.  For example, banks between $250 and $500 billion, such as US Bancorp and Capitol One, should be in a separate category, distinguished from banks such as Union Bank with $105 billion in assets. Such graduated treatment could also maximize competition. It could, for example create at least ten and in some regions up to twenty competitive banks.

We have analyzed the impact of the CIT/OneWest merger in the above context from the perspective of our nation’s 130 million minorities and the 70% of our population that lives from paycheck to paycheck.  Our conclusion is that this merger does not automatically create a “Systemically Important” bank.

 

Income Inequality

All of our organizations fully support Federal Reserve Chair, Janet Yellen’s October 17th speech to the Federal Reserve Bank of Boston on income inequality. As referenced in the speech, banks play a crucial role in eliminating income inequality and wealth inequality. One of the four pillars of Chairwoman Yellen’s speech is the education of our children and its impact on future income and wealth inequality. Another key feature is the building of wealth through homeownership. A third key pillar in transmitting wealth and reducing income inequality is through small business development and technical assistance.

We urge that all banks seeking to merge should be judged, in part, by their role in helping reduce income and wealth inequality.

Two Percent of Pretax Profits Directed at Underserved Communities

One of the keys to reducing income and wealth inequality is the amount of corporate philanthropy relative to assets, and/or relative to deposits, and/or relative to revenue and particularly relative to pretax profits allocated for the above referenced reductions in income and wealth inequality. For many years we and one of the most respected opponents of income inequality, Greenlining Institute, have urged that at a minimum, every financial institution commit a minimum of two percent of pre-tax profits to underserved communities rather than the prevalent less than one percent of net profits that is often distributed primarily to elite causes such as art museums and universities. We therefore urge that this merger and future mergers be examined in this context and the degree to which a bank meets the two percent of pre-tax profit standard. (This is just one-fifth of the ten percent tithing among many church members.

Outstanding and Outstanding Plus CRA Ratings

As we have pointed out in comments filed with the Federal regulators on September 8th relating to CRA reforms, the present CRA rating system is an inadequate evaluator of what a financial institution does to benefit the community. We believe it will be improved once Maxine Waters’ Section 342 diversity provisions are implemented under the Dodd-Frank Act (CFPB will hopefully announce its requirements for greater transparency by the end of this year.)

Similarly, too many banks that are nonresponsive to community needs receive so-called “Outstanding” CRA ratings and rarely is a mediocre bank subject to a “Negative Needs to Improve” CRA rating. (None of the so-called “Systemically Important” banks, to our knowledge have received an overall “Needs to Improve” rating even though many are lacking in service, investments and lending to underserved communities)

This is why, in our September 8th CRA comments to the regulators, we urged a new category, which we believe requires no legislation. The new rating is “Outstanding Plus,” a rating we believe no large bank has yet earned. OneWest Bank has committed to receiving an outstanding CRA rating in the future in the three categories of lending, service and investments in the community. They also have informed us that should the regulators create the new and higher rating of “Outstanding Plus,” as we have proposed, they will consider quickly seeking to achieve such a rating.[1]

Specifics of Why We Support the Acquisition

From our initial discussions, it appears that 60 to 100 minority church, small business and nonprofits will be working with us to support the merger because of the specific commitments with OneWest Bank and its CEO to assist underserved communities and because of its pledge to be at a minimum an “Outstanding” bank in terms of CRA.

We are specifically working on a number of pilot programs by OneWest and its CEO that could double or triple the effectiveness of youth financial education programs and substantially reduce income inequality throughout California. This is especially likely, if some other so-called “Systemically Important” banks join with OneWest Bank.

In addition,

A.) We are working with OneWest Bank on a number of job creation and small business development and technical assistance programs that, if adopted or embraced by “Systemically Important” financial institutions, could within two years reduce California’s unemployment rate to well below the national average. It could also create tens of thousands of new jobs, particularly among unemployed and underemployed minorities. Further it could help develop long-term sustainable small businesses, some of whom could eventually be employers of hundreds if not thousands of inner-city unemployed or underemployed residents.

B.) We are working on a number of home lending programs including alternatives that, if adopted by the major mortgage originators doing business in California, could substantially alter the present lack of home originations to the vast majority of eligible Black, Latino and Southeast Asian potential homeowners in California.

C.) We are in the early stages of discussing a new bank model for large banks that is similar to the once prevalent practice of community bank CEOs of being personally involved in the community.

D.) We also note a number of commendable programs consistent with reducing income inequality and promoting youth financial education adopted by OneWest Bank prior to the proposed acquisition by CIT. These programs include Junior Achievement, Boys and Girls Clubs, Partnership for LA Schools, City Year Los Angeles and Mind Institute among others.

E.) We are working with the CEO of OneWest on developing an innovative Community Advisory Council that will have substantial input on future bank policies intended, for example, to reduce income inequality including creating of jobs, homeownership and youth financial education.

Throughout this letter, we have focused on minority communities, but believe all underserved communities should be served, without regard to race and ethnicity. We are, however, stressing minority since A) 60% of Californians are minorities, B) 75% of our K-12 public school students are minorities and C) 80-85% of underserved communities in California are minority communities.

Monthly Coalition Evaluations of OneWest

This preliminary report on why we support the merger will, on a month by month basis be updated and contain specific actions and results by OneWest Bank that relate to achieving an outstanding, CRA rating and specific efforts to help reduce income and wealth inequality[2].

In the Banc of California merger, 58 of our coalition members requested expedited approval of the Banc of California acquisition of Banco Popular. Because of the larger size of this merger, and the regulators present view of “Systemically Important” banks, we merely support timely approval. However, should the regulators reexamine and redefine “Systemically Important” banks[3], we may, based on subsequent achievements by OneWest Bank, urge the same type of expedited approval that we urged in the Banc of California/Banco Popular case.

D.C. Meetings with Regulators Including Federal Reserve and OCC

During the period November 12 to 14, 2014, we and many of our coalition members will be in Washington DC for meetings with key bank regulators, including Federal Reserve Chair Janet Yellen, Mel Watt, the head of FHFA, OCC, the FDIC, HUD and the CFPB to further discuss, based on the commitments of OneWest and its CEO, the potential positive benefits of this merger. We are also open at any time to a community dialogue with the key Federal Reserve and OCC staff on this matter and we believe that the CEO of both CIT and OneWest are prepared to join us if you wish[4].

 

Respectfully Submitted,

/s/ Faith Bautista
President & CEO, National Asian American Coalition
/s/ Sam Rodriguez
President, National Hispanic Christian Leadership Conference of 40,000 Latino Churches
/s/ Mark Whitlock                                                        
Senior Minister, COR AME Church, Irvine, CA
Director of Corporate Partnerships, 5,000 African Methodist Episcopal Churches
Executive Director, Ecumenical Center for Black Church Studies
Chair, Orange County Interdenominational Alliance
/s/ Jesse Miranda
Founder, Jesse Miranda Center for Hispanic Leadership
Former CEO, National Hispanic Christian Leadership Conference
/s/ Sergio De La Mora
Senior Pastor, Cornerstone Church of San Diego (6,500 Member Congregation)
Co-Founder, Turning the Hearts Center/s/ Theresa Martinez
Chief Executive Officer, Los Angeles Latino Chamber of Commerce/s/ Charles Dorsey         ________
Associate Pastor – Youth and Young Adults, Christ Our Redeemer AME Church, Irvine, CA
/s/ Gilbert Vasquez
Chair, Los Angeles Latino Chamber of Commerce Serving 250,000 Latino Businesses
/s/ Arnulfo Manriquez
President & CEO, MAAC/s/ Jin Sung
Executive Director, OASIS Center International
/s/ Lee de Leon___________________________________
Pastor Lee de Leon, President and Founder Templo Calvario CDC
/s/ Dan de Leon__________________________________
Pastor, Templo Calvario CDC
/s/ Cora Oriel
President, Asian Journal Publications/s/ Alex Anderson                                          ________
Co-Chair, African Americans for Economic Justice/s/ Vivian Araullo
Executive Director, West Bay Pilipino Multi-Service Center
/s/ Eric Le
Director, Vietnamese & Laotian Community Alliance for San Diego and Orange County/s/ George McDaniel     ________                ________                ________
Co-Chair, African Americans for Economic Justice/s/ Cathy Zhang
Executive Director, Chinese-American Institute for Empowerment & Sound of Hope

 

CC        Federal Reserve and OCC Senior Executives

CEO of CIT

CEO of OneWest

CRA Director for OneWest

 


[1] This incentive is necessary since the stick approach has not worked. That is, large and medium sized banks are never prevented from seeking a merger since no bank pf significant size has, in recent memory, received an overall “Needs to Improve” CRA rating.

[2] Should the regulators embrace our September 8th comments on CRA and develop an “Outstanding Plus” CRA rating, we will also report on OneWest Bank’s efforts in supporting and achieving such.

[3] See for example Federal Reserve Governor Tarullo’s recent meeting with so-called “Systemically Important” banks with assets of $50 billion to $150 billion

[4] Approximately twelve of the undersigned will be at these DC meetings November 12 to 14 and may also meet with executive staff of the Federal Reserve and the OCC.

 

Community Support

Asian Journal to Federal Reserve and OCC

Templo Calvario CDC and Members to Federal Regulators

Petition by Vietnamese and Laotian Communities
in Support of CIT Acquisition of OneWest Bank

King Chavez High School Support of One West

COR CDC Letter of Support to One West

 

ADD Your Letter of Suport:
Contact Jeronathon Angeles jangeles@naac.org

 

 

President Bill Clinton to Keynote Banc of California’s Financial Literacy Education Event Nov. 9th at USC

More than 5,000 at-risk youth to attend world’s largest financial literacy training session

IRVINE, Calif.–(BUSINESS WIRE)– President Bill Clinton, Founder of the Clinton Foundation and the 42nd President of the United States, will keynote the world’s largest financial literacy education event on November 9, 2014 at the University of Southern California’s Galen Center. Presented by Banc of California, the event will include over 5,000 at-risk youth from communities throughout Southern California.

President Clinton was the first Democratic president in six decades to be elected twice – first in 1992 and then in 1996. Under his leadership, the country enjoyed the strongest economy in a generation and the longest economic expansion in U.S. history, including the creation of more than 22 million jobs. After leaving the White House, President Clinton established the Clinton Foundation with the mission to improve global health, strengthen economies, promote health and wellness, and protect the environment.

“We are proud to be joined by President Clinton as our Keynote Speaker at Banc of California’s record setting financial literacy training event on November 9th. Banc of California recognizes President Clinton and the Clinton Foundation for their commitment to expand financial opportunities for youth across America. Banc of California is proud to commit its resources to improving the financial literacy of at-risk youth throughout California,” said Steven Sugarman, Banc of California’s President and CEO.

Mayor Antonio Villaraigosa, the 41st Mayor of Los Angeles, will join with Sugarman to lead the financial literacy training. The event builds on Banc of California’s ongoing efforts to strengthen financial literacy for California’s at-risk youth.

“Having an understanding of basic financial concepts such as how to balance a check book can make a tangible difference in a young person’s ability to succeed. Financial literacy needs to be as fundamental as reading, writing and arithmetic,” said Villaraigosa. “Banc of California wants to help improve financial literacy education for our young people so that they can better fulfill the American dream. This event is an example of that effort.”

The bank has developed partnerships with non-profit, community and faith-based organizations to hold financial literacy classes, including partnerships with the University of Southern California and San Diego State University, designed to improve financial literacy education for underserved youths throughout Southern California.

Millions of Americans lack basic financial knowledge. A 2008 National Foundation for Credit Counseling, Financial Literacy Survey found that only 34 percent of American parents taught their teenagers how to balance a checkbook and even fewer have discussed how credit card interest and fees work. The same survey found only 59 percent of millennials say they pay their bills on time every month and that three out of every four Americans say they are not saving enough.

Banc of California has received record support from community organizations throughout California who have applauded Banc of California’s community development activities, including its focus on financial literacy training.

“Lower income communities are disproportionally impacted by a lack of financial skills, which drastically lowers upward mobility. Our event is designed to teach these important skills, but also to shine a bright light on the need for improved financial literacy for at-risk youth,” said Chad Brownstein, Vice Chairman of Banc of California’s Board of Directors.

Schools, non-profits and faith-based organizations interested in participating in Banc of California’s financial literacy event can register their students by emailing: literacy@bancofcal.com.

About Banc of California, Inc.

Since 1941, Banc of California, Inc. (BANC) through its banking subsidiary Banc of California, National Association, has provided banking services and loans to private businesses, entrepreneurs and homeowners in California and the West. For more information on Banc of California, please go towww.bancofcal.com.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the “Safe-Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are necessarily subject to risk and uncertainty and actual results could differ materially from those anticipated due to various factors, including those set forth from time to time in the documents filed or furnished by Banc of California, Inc. with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements and Banc of California, Inc. undertakes no obligation to update any such statements to reflect circumstances or events that occur after the date on which the forward-looking statement is made.

 

Contact:
INVESTOR RELATIONS INQUIRIES:
Banc of California, Inc.
Timothy Sedabres, 855-361-2262
or
MEDIA INQUIRIES:
Vectis Strategies
David Herbst, 213-973-4113 x101

Covered California Webinar – October 27

Webinar Flyer - October 2014

Agenda for NAAC’s 11th Annual EDC on October 24th, 2014

12:00pm to 1:45pm
Luncheon with Korean American and Chinese American banks (private)
Room: California Room
Expected Attendees: 40
Format: Roundtable luncheon

2:00pm to 3:15pm Future of Homeownership Panel Room: Golden West Room
Expected Attendees: 150
Format: Panel, theater seating

Moderator: Marcia Griffin, HomeFree-­‐USA
Panelists:
Barry Wides, Deputy Comptroller for Community Affairs, Office of the Comptroller of the Currency
Emerson Hall, Community Affairs Officer, San Francisco Region, FDIC
JPMorgan Chase, Fady Semaan
Wells Fargo: Carmen Luna

3:30pm to 4:45pm Creating Jobs through Innovative Small Business Lending Panel Room: Golden West Room
Expected Attendees: 150
Format: Panel, theater seating

Moderator: Claudia Viek, CEO, CAMEO
Panelists:
Bill Sommers, Senior Vice President, OneWest Bank
Ruben Garcia, District Director, SBA
Eric Le, small business owner, 2Brothers Construction
Jeff “Nino” Lim, larger business owner, Island Pacific Supermarkets

4:45pm to 5:45pm
Mr. William Baer, Chief of the Antitrust Division of the US DOJ, and Youth (for youth only)
Room: California Room
Expected Attendees: 200
Format: Q&A, Interactive

6:00pm Reception
Room: Atlas Foyer (all guests will be escorted to nearby foyer)

6:30pm Doors Open

7:00pm Awards and Dinner Gala Room:
Town & Country
Expected Attendees: 700

Keynote Speakers:
William Baer, Chief, Antitrust Division of the US Department of Justice
Michael Peevey, President, California Public Utilities Commission
Brief Comments: Joseph Otting, CEO, OneWest Bank

Head of Antitrust, President of the California Public Utilities Commission and CEO of OneWest Bank Will Be Keynote Speakers at the National Asian American Coalition’s Economic Development and Empowerment Conference

PRESS RELEASE

MEDIA CONTACT
Cherilyn Tran: (901) 361  4903 / ctran@naac.org

Jeronathon Angeles: (650) 952-0522j@naac.org

For Immediate Release

October 20, 2014 

Location: Town and Country Resort & Conference Center

500 Hotel Circle North

San Diego, CA 92108

Date: Friday, October 24th, 2014

Time: Doors open at 11:30am

Head of Antitrust, President of the California Public Utilities Commission and CEO of OneWest Bank Will Be Keynote Speakers at the National Asian American Coalition’s Economic Development and Empowerment Conference

The National Asian American Coalition, on October 24th, will have as its two keynote speakers William Baer, the Chief of the Antitrust Division of the US Department of Justice, and Michael Peevey, the President of the California Public Utilities Commission. In addition, Joseph Otting, the CEO of OneWest Bank, will deliver brief comments. This will occur during dinner at the Town and Country Resort & Conference Center beginning at 7pm. Also in attendance will be 800 minority leaders and fifty corporations, including thirty-one corporate sponsors of the conference.

Two public panels will precede the dinner. One will focus on creating 1.6 million additional low/moderate income homeowners per year. The other will be discussing how financial institutions can help create jobs through small business lending to California’s two million minority-owned businesses. Both panels will include federal regulators from the FDIC, the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau, as well as financial institutions and key community representatives.

The conference also includes a private luncheon with more than a dozen Korean American and Chinese American banks (also attended by the regulators) to discuss how Chinese American and Korean American-owned banks can work with all minorities, not just their own ethnic group.

William Baer’s office played a key role in blocking the AT&T/T-Mobile merger, has been involved in a number of key recent antitrust issues in the airline industry, and is currently considering the implications of the present Comcast/Time Warner merger. He will also be conducting the first ever minority youth financial education seminar by a head of Antitrust.  It begins at 4:30pm and will be attended by two hundred minority youth from kindergarten to twelfth grade.

Michael Peevey, the head of the CPUC, will be honored as the leading state regulator in promoting diversity opportunities, including minorities on boards of directors and ensuring that billions of dollars annually in business contracts are awarded to minorities. He will be addressing minority issues in the context of 60% of California’s population being minorities and 75% of California’s youth being minorities.

Joseph Otting, the CEO of OneWest Bank, will in part be discussing the potential of a “systemically important” middle-sized bank, as a result of its proposed acquisition by CIT, having a positive and dynamic impact on minority communities.

Faith Bautista, CEO and President of the National Asian American Coalition, said, “Any bank merger that creates a ‘systemically important’ bank should be subject to careful regulatory scrutiny. Some community groups have therefore opposed the OneWest/CIT merger. In contrast, the NAAC and many of its Black and Latino church, minority business chamber and nonprofit partners are urging that the merger be designed to benefit California’s 25 million minorities in the context of OneWest’s commitment to securing an “Outstanding” CRA rating. We are being advised in this matter by the former general counsel of the Greenlining Institute and the general counsel for many of the organizations urging the Federal Reserve to approve the merger if it is truly in the public interest.”

Michael Peevey is being honored because he has done more for minority employment and minority small businesses than any other regulator, state or federal, in the nation.

Joseph Otting, the CEO of OneWest Bank, has been invited because his bank’s proposed acquisition by CIT will be the first test of what the Federal Reserve will require whenever a ‘systemically important’ bank is created.

Executive Assistant to the CEO and General Counsel for Leading Advocacy and Public Policy Nonprofit

JOB DESCRIPTION

ORGANIZATION OVERVIEW

The National Asian American Coalition is a fast-growing 501(c)(3) nonprofit organization with headquarters in Daly City, CA. We also have grassroots branches in San Diego, Hercules, Fresno and Las Vegas. The NAAC is a pan Asian American advocate for Asian American empowerment and focuses on the public interest, corporate responsibility, homeownership and small business development. For more information on NAAC, visit us online at www.naac.org. No phone calls please.

POSITION SUMMARY The Executive Assistant works closely with the CEO and the General Counsel on programs and advocacy initiatives and serves as a liaison with the diverse Pan Asian American, Black and Latino groups we serve, including the leadership for 5,000 African Methodist Episcopal churches.

Duties include: drafting advocacy letters, setting up meetings for the CEO and the General Counsel and often daily interaction with corporate executives, elected officials, community leaders and the media. Must also be able to handle duties of an administrative assistant.

STATUS Position available immediately. Full-time, Monday through Friday 9 am to 6 pm.

QUALIFICATIONS

  • Bachelor’s degree required.
  • Although a minimum of three years general office experience preferred, will consider a paid internship that leads to a full-time program position.
  • Ability to type 65+ WPM required (heavy dictation).
  • Intermediate to advanced Microsoft Office (Word, Excel) knowledge and experience required.
  • Excellent communication skills, verbal and written
  • Strong organizational skills in order to coordinate many functions in a fast-paced environment.
  • Self-starter and able to determine priorities and meet differing deadlines.
  • Ability to respond resourcefully to new demands and challenges with limited resources.
  • Demonstrated ability to think creatively/strategically and “think outside the box”
  • Must possess the ability to work within a team environment as well as independently.
  • Must have an understanding of serving culturally diverse populations; interest in public policy and advocacy is a PLUS but not required.
  • Ability to type rapidly, advanced Microsoft Office.

COMPENSATION

The starting salary will depend on experience and ability and could lead to rapid promotions.

CONTACT

Please e-mail resume and cover letter to Cheri Tran at ctran@naac.org (no phone calls please).

HOW TO APPLY

Please e-mail resume and cover letter to Cheri Tran at ctran@naac.org (no phone calls please) as soon as possible. We accept applications on a rolling basis and expect to hire immediately. Due to the high volumes of applications, please do not call.