Countrywide Bank on Tuesday announced the appointment of Mary Salinas Duron, a past member of Hispanic Business magazine's 100 Influentials list, to the position of executive vice president for Community Reinvestment Act [CRA] lending and community development.
According to the federal Comptroller of the Currency, the CRA "provides a framework for depository institutions and community organizations to work together to promote the availability of credit and other banking services to underserved communities. Under its impetus, banks and thrifts have opened new branches, provided expanded services, adopted more flexible credit underwriting standards, and made substantial commitments to state and local governments or community development organizations to increase lending to underserved segments of local economies and populations."
Ms. Duron, who has more than 25 years of banking experience, will be responsible for the management of lending to minority and low- to moderate-income communities. She will also serve as a liaison with nonprofit and for-profit groups "that share the bank's vision of helping people to reach their financial goals," according to a press release.
Since joining the Thousand Oaks, California-based company in 1998, Ms. Duron has held several key positions, most recently as executive vice president of the National Multicultural Sales Division of Countrywide Home Loans, Inc.
Before that, she was community development manager at Sumitomo Bank of California. She has served as a director at the National Association of Affordable Housing Lenders, the Coalition for Women's Economic Development, the Bilingual Foundation of the Arts, and the National Hispanic Corporate Council.
"Mary's broad experience and background in the financial services industry, and her in-depth knowledge of multicultural markets, makes her the ideal leader for our community development activities," said Timothy Wennes, president and chief operating officer of Countrywide Bank. "For nearly a decade, Mary has played a significant role in Countrywide's success in multicultural markets."
Ms. Duron has received numerous accolades for her commitment to minority and lower-income communities from various groups, including the NAACP and the Los Angeles City Commission on the Status of Women, among others.
Countrywide Bank FSB, is a member of the family of companies that make up mortgage finance giant Countrywide Financial Corporation.
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