HispanicBusiness

The Greenlining Institute's all-day Los Angeles summit featured two afternoon keynote speakers with global corporate reputations.

Ivan Seidenberg, Chief Executive Officer of Verizon and Barbara Desoer, President of Bank of America Home Loans, each spoke about their company's commitment to diversity.

"Verizon is deeply invested in America's future," Seidenberg said. "We're committed to diversity. We realize there's still a gap in where we are and where we need to be in access to the American Dream. And while we live in a time of great crisis, this is also a time of renewal."

Mr. Seidenberg also mentioned the promising possibilities of broadband, citing one statistic, which says that four billion people have access to mobile phones.

He cited Robert Crandall, of the Brookings Institution, who believes new demand will be created via internet on smart phones. More than 500,000 jobs will be created as a result.

"We need to use broadband to address the bigger issues in our communities, such as healthcare," he said.

Social problems grow faster than resources to solve them, and so we need creative solutions, he added.

As one example, "digitizing healthcare records could save billions of dollars and create a better healthcare system."

He closed with, "Verizon is committed to being part of the solution to these problems," specifically citing the $25 million donated to Haiti via cell phones as one force of good via technology.

Ms. Desoer began by discussing opportunities that are possible even in these tough economic times.

"There's an ability to rebuild the American dream and Bank of America takes very seriously its role in this rebuilding," she explained. "To be the bank of opportunity means listening to customers, and empowering them with the tools and services they need to make responsible choices."

Ms. Desoer went on to detail the ways in which Bank of America is aiding its customers, such as eliminating overdraft fees and voluntarily freezing interest rates well before passage of the Credit Card Act.

"An ongoing priority is how we can sustain home ownership and foster recovery," Ms. Desoer said.

Acquiring Countrywide in 2008 made Bank of America the largest servicer of home loans. Ms. Desoer addressed the fallout of the mortgage and lending crisis by detailing the efforts Bank of America has made to keep people in their homes.

"We've helped nearly 800,000 customers with home loan modifications," she said, noting that "none of us anticipated the long economic downturn."

And as "increased foreclosures put neighborhoods into decline, we continue to come up with creative ways to keep customers in their homes."

Nearly 200 people, including entrepreneurs, government officials and civic activists were expected to attend the event, held at the Center at Cathedral Plaza in downtown Los Angeles.

More panel discussions were scheduled throughout the day. Visit www.hispanicbusiness.com for updates.