(b)(2) 

(b)(2) 

e FEDERAL DEPOSIT INSURANCE CORPORATION, Washington, DC 20429 

SHEILA C. BAIR 

CHAIRMAN 

Honorable Andre Carson 

House of Representatives 

Washington, D.C. 20515 

Dear Congressman Carson: 

November I 9, 2010 

Thank you for your letter regarding the status of the Federal Deposit Insurance 

Corporation's actions to establish the Office of Minority and Women Inclusion (OMWl) 

and to select the Director for that office. As noted in your letter, Section 342 of the 

Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) 

requires the FDIC and other specified agencies to establish an OMWI within 6 months of 

enactment of the new law, which is January 21, 2010. 

The FDIC fully appreciates the importance of complying with the letter and spirit 

of section 342 of the Dodd-Frank Act, as well as the important responsibilities of the 

OMWI. 

While our Board of Directors has not made any final decisions on the 

organizational structure and leadership, the FDIC is having robust discussions among 

senior management on how to best transition our existing functions to the OMWI and 

expand the functions to include the important new responsibilities under Section 342 of 

the Dodd-Frank Act. Also, we expect to hire several new staff to build on our current 

diversity efforts and anticipate there will be many outstanding applicants both inside and 

outside of the agency for these new positions. 

Please know your views will be carefully considered as we finalize our decision 

making on establishing the OMWI. If have further questions or comments, please do 

not hesitate to contact me Paul Nash, Deputy for External Affairs, at 

Sincerely, 

Sheila C. Bair 
(b}(2) 

(b)(2) 

- FEDERAL DEPOSIT INSURANCE CORPORATION, Washington, DC 20429 

SHEILA C. BAIR 

CHAIRMAN 

Honorable William Lacy Clay 

House of Representatives 

Washington, D.C. 20515 

Dear Congressman Clay: 

November 19, 2010 

Thank you for your letter regarding the status of the Federal Deposit Insurance 

Corporation's actions to establish the Office of Minority and Women Inclusion (OMWI) 

and to select the Director for that office. As noted in your letter, Section 342 of the 

Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) 

requires the FDIC and other specified agencies to establish an OMWI within 6 months of 

enactment of the new law, which is January 21, 2010. 

The FDIC fully appreciates the importance of complying with the letter and spirit 

of section 342 of the Dodd-Frank Act, as well as the important responsibilities of the 

OMWI. 

While our Board of Directors has not made any final decisions on the 

organizational structure and leadership, the FDIC is having robust discussions among 

senior management on how to best transition our existing functions to the OMWI and 

expand the functions to include the important new responsibilities under Section 342 of 

the Dodd-Frank Act. Also, we expect to hire several new staff to build on our current 

diversity efforts and anticipate there will be many outstanding applicants both inside and 

outside of the agency for these new positions. 

Please know your views will be carefully considered as we finalize our decision 

making on establishing the OMWI. If you have further questions or comments, please do 

not hesitate to contact me atl lor Paul Nash, Deputy for External Affairs, at 

Sincerely, 

Sheila C. Bair 
(b)(2) 

(b)(2) 

- FEDERAL DEPOSIT INSURANCE CORPORATION, Washington, DC 20429 

SHEILA C. BAIR 

CHAIRMAN 

Honorable Emanuel Cleaver 

House of Representatives 

Washington, D.C. 20515 

Dear Congressman Cleaver: 

November 19, 2010 

Thank you for your letter regarding the status of the Federal Deposit Insurance 

Corporation's actions to establish the Office of Minority and Women Inclusion (OMWI) 

and to select the Director for that office. As noted in your letter, Section 342 of the 

Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) 

requires the FDIC and other specified agencies to establish an OMWI within 6 months of 

enactment of the new law, which is January 21, 2010. 

The FDIC fully appreciates the importance of complying with the letter and spirit 

of section 342 of the Dodd-Frank Act, as well as the important responsibilities of the 

OMWI. 

While our Board of Directors has not made any final decisions on the 

organizational structure and leadership, the FDIC is having robust discussions among 

senior management on how to best transition our existing functions to the OMWI and 

expand the functions to include the important new responsibilities under Section 342 of 

the Dodd-Frank Act. Also, we expect to hire several new staff to build on our current 

diversity efforts and anticipate there will be many outstanding applicants both inside and 

outside of the agency for these new positions. 

Sin~erely, 

Sheila C. Bair 
(b)(2) 

(b)(2) 

- FEDERAL DEPOSIT INSURANCE CORPORATION, Washington, DC 20429 

SHEILA C. BAIR 

CHAIRMAN 

Honorable Keith Ellison 

House of Representatives 

Washington, D.C. 20515 

Dear Congressman Ellison: 

November 19, 2010 

Thank you for your letter regarding the status of the Federal Deposit Insurance 

Corporation's actions to establish the Office of Minority and Women Inclusion (OMWI) 

and to select the Director for that office. As noted in your letter, Section 342 of the 

Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) 

requires the FDIC and other specified agencies to establish an OMWI within 6 months of 

enactment of the new law, which is January 21, 2010. 

The FDIC fully appreciates the importance of complying with the letter and spirit 

of section 342 of the Dodd-Frank Act, as well as the important responsibilities of the 

OMWI. 

While our Board of Directors has not made any final decisions on the 

organizational structure and leadership, the FDIC is having robust discussions among 

senior management on how to best transition our existing functions to the OMWI and 

expand the functions to include the important new responsibilities under Section 342 of 

the Dodd-Frank Act. Also, we expect to hire several new staff to bui Id on our current 

diversity efforts and anticipate there will be many outstanding applicants both inside and 

outside of the agency for these new positions. 

Sincerely, 

Sheila C. Bair 
(b)(2) 

(b)(2) 

e FEDERAL DEPOSIT INSURANCE CORPORATION, Washington, DC 20429 

SHEILA C. BAIR 

CHAIRMAN 

Honorable Al Green 

House of Representatives 

Washington, D.C. 20515 

Dear Congressman Green: 

November 19, 2010 

Thank you for your letter regarding the status of the Federal Deposit Insurance 

Corporation's actions to establish the Office of Minority and Women Inclusion (OMWI) 

and to select the Director for that office. As noted in your letter, Section 342 of the 

Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) 

requires the FDIC and other specified agencies to establish an OMWI within 6 months of 

enactment of the new law, which is January 21, 2010. 

The FDIC fully appreciates the importance of complying with the letter and spirit 

of section 342 of the Dodd-Frank Act, as well as the important responsibilities of the 

OMWI. 

While our Board of Directors has not made any final decisions on the 

organizational structure and leadership, the FDIC is having robust discussions among 

senior management on how to best transition our existing functions to the OMWI and 

expand the functions to include the important new responsibilities under Section 342 of 

the Dodd-Frank Act. Also, we expect to hire several new staff to bui Id on our current 

diversity efforts and anticipate there will be many outstanding applicants both inside and 

outside of the agency for these new positions. 

Please know your views will be carefully considered as we finalize our decision 

making on establishing the If u ave further questions or comments, please do 

not hesitate to contact me a r Paul Nash, Deputy for External Affairs, at 

Sincerely, 

Sheila C. Bair 
(b)(2) 

(b)(2) 

fl FEDERAL DEPOSIT INSURANCE CORPORATION, Washington, DC 20429 

SHEILA C. BAIR 

CHAIRMAN 

Honorable Gregory W. Meeks 

Chairman 

November 19, 2010 

Subcommittee on International and Consumer Credit 

Committee on Financial Services 

House of Representatives 

Washington, D.C. 20515 

Dear Mr. Chairman: 

Thank you for your letter regarding the status of the Federal Deposit Insurance 

Corporation's actions to establish the Office of Minority and Women Inclusion (OMWI) 

and to select the Director for that office. As noted in your letter, Section 342 of the 

Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) 

requires the FDIC and other specified agencies to establish an OMWI within 6 months of 

enactment of the new law, which is January 21, 2010. 

The FDIC fully appreciates the importance of complying with the letter and spirit 

of section 342 of the Dodd-Frank Act, as well as the important responsibilities of the 

OMWI. 

While our Board of Directors has not made any final decisions on the 

organizational structure and leadership, the FDIC is having robust discussions among 

senior management on how to best transition our existing functions to the OMWI and 

expand the functions to include the important new responsibilities under Section 342 of 

the Dodd-Frank Act. Also, we expect to hire several new staff to build on our current 

diversity efforts and anticipate there will be many outstanding applicants both inside and 

outside of the agency for these new positions. 

Sincerely, 

Sheila C. Bair 
(b)(2) 

(b)(2) 

e FEDERAL DEPOSIT INSURANCE CORPORATION, Washington, oc 20429 

SHEILA C. BAIR 

CHAIRMAN 

Honorable Gwen Moore 

House of Representatives 

Washington, D.C. 20515 

Dear Congresswoman Moore: 

November 19, 2010 

Thank you for your letter regarding the status of the Federal Deposit Insurance 

Corporation's actions to establish the Office of Minority and Women Inclusion (OMWI) 

and to select the Director for that office. As noted in your letter, Section 342 of the 

Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) 

requires the FDIC and other specified agencies to establish an OMWI within 6 months of 

enactment of the new law, which is January 21, 2010. 

The FDIC fully appreciates the importance of complying with the letter and spirit 

of section 342 of the Dodd-Frank Act, as well as the important responsibilities of the 

OMWI. 

While our Board of Directors has not made any final decisions on the 

organizational structure and leadership, the FDIC is having robust discussions among 

senior management on how to best transition our existing functions to the OMWI and 

expand the functions to include the important new responsibilities under Section 342 of 

the Dodd-Frank Act. Also, we expect to hire several new staff to build on our current 

diversity efforts and anticipate there will be many outstanding applicants both inside and 

outside of the agency for these new positions. 

Please know your views will be carefully considered as we finalize our decision 

making on establishing the ve further questions or comments, please do 

not hesitate to contact me at r Paul Nash, Deputy for External Affairs, at 

Sincerely, 

Sheila C. Bair 
(b)(2) _ 

(b)(2) 

e FEDERAL DEPOSIT INSURANCE CORPORATION, Washington, DC 20429 

SHEILA C. BAIR 

CHAIRMAN 

Honorable David Scott 

House of Representatives 

Washington, D.C. 20515 

Dear Congressman Scott: 

November 19, 2010 

Thank you for your letter regarding the status of the Federal Deposit Insurance 

Corporation's actions to establish the Office of Minority and Women Inclusion (OMWI) 

and to select the Director for that office. As noted in your letter, Section 342 of the 

Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) 

requires the FDIC and other specified agencies to establish an OMWI within 6 months of 

enactment of the new law, which is January 21, 2010. 

The FDIC fully appreciates the importance of complying with the letter and spirit 

of section 342 of the Dodd-Frank Act, as well as the important responsibilities of the 

OMWI. 

While our Board of Directors has not made any final decisions on the 

organizational structure and leadership, the FDIC is having robust discussions among 

senior management on how to best transition our existing functions to the OMWI and 

expand the functions to include the important new responsibilities under Section 342 of 

the Dodd-Frank Act. Also, we expect to hire several new staff to build on our current 

diversity efforts and anticipate there will be many outstanding applicants both inside and 

outside of the agency for these new positions. 

Please know your views will be carefully considered as we finalize our decision 

mak_ ing on establishing the OMWL Ifvou have further questions or comments, please do 

not hesitate to contact me a I ,r Paul Nash, Deputy for External Affairs, at 

Sincerely, 

Sheila C. Bair 
(b)(2) 

(b)(2) 

- FEDERAL DEPOSIT INSURANCE CORPORATION, Washington, DC 20429 

SHEILA C. BAIR 

CHAIRMAN 

Honorable Melvin L. Watt 

Chairman 

November 19, 2010 

Subcommittee on Domestic Monetary Policy and Technology 

Committee on Financial Services 

House of Representatives 

Washington, D.C. 20515 

Dear Mr. Chairman: 

Thank you for your letter regarding the status of the Federal Deposit Insurance 

Corporation's actions to establish the Office of Minority and Women Inclusion (OMWI) 

and to select the Director for that office. As noted in your letter, Section 342 of the 

Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) 

requires the FDIC and other specified agencies to establish an OMWI within 6 months of 

enactment of the new law, which is January 21, 2010. 

The FDIC fully appreciates the importance of complying with the letter and spirit 

of section 342 of the Dodd-Frank Act, as well as the important responsibilities of the 

OMWI. 

While our Board of Directors has not made any final decisions on the 

organizational structure and leadership, the FDIC is having robust discussions among 

senior management on how to best transition our existing functions to the OMWI and 

expand the functions to include the important new responsibilities under Section 342 of 

the Dodd-Frank Act. Also, we expect to hire several new staff to build on our current 

diversity efforts and anticipate there will be many outstanding applicants both inside and 

outside of the agency for these new positions. 

Please know your views will be carefully considered as we finalize our decision 

making on establishing the MWI. If ou have further questions or comments, please do 

not hesitate to contad me at r Paul Nash, Deputy for External Affairs, at 

Sincerely, 

Sheila C. Bair 
(b)(2) 

(b)(2) 

• FEDERAL DEPOSIT INSURANCE CORPORATION, Washington, DC 20429 

SHEILA C. BAIR 

CHAIRMAN 

Honorable Maxine Waters 

Chairwoman 

November 19, 2010 

Subcommittee on Housing and Community Opportunity 

Committee on Financial Services 

House of Representatives 

Washington, D.C. 205 I 5 

Dear Ms. Chairwoman: 

Thank you for your letter regarding the status of the Federal Deposit Insurance 

Corporation's actions to establish the Office of Minority and Women Inclusion (OMWI) 

and to select the Director for that office. As noted in your letter, Section 342 of the 

Dodd-Frank Wall Street Refom1 and Consumer Protection Act (the Dodd-Frank Act) 

requires the FDIC and other specified agencies to establish an OMWI within 6 months of 

enactment of the new law, which is January 21, 2010. 

The FDIC fully appreciates the importance of complying with the letter and spirit 

of section 342 of the Dodd-Frank Act, as well as the important responsibilities of the 

OMWI. 

While our Board of Directors has not made any final decisions on the 

organizational structure and leadership, the FDIC is having robust discussions among 

senior management on how to best transition our existing functions to the OMWI and 

expand the functions to include the important new responsibilities under Section 342 of 

the Dodd-Frank Act. Also, we expect to hire several new staff to build on our current 

diversity efforts and anticipate there will be many outstanding applicants both inside and 

outside of the agency for these new positions. 

Please know your views will be carefully considered as we finalize our decision 

making on establishing the OMWI. Ifvou have further questions or comments, please do 

· ntact me at I W,r Paul Nash, Deputy for External Affairs, at 

Sincerely, 

Sheila C. Bair 
~ FEDERAL DEPOSIT INSURANCE CORPORATION, Washington, DC 20429 

SHEILA C. BAIR 

CHAIRMAN 

Honorable Gregory W. Meeks 

House of Representatives 

Washington. D.C. 20515 

Dear Congressman Meeks: 

December 27, 2010 

Thank you for your letter concerning the definition of a "qualified residential 

mortgage" for purposes of the risk retention requirements to be established under section 

94l(b) of the Dodd-Frank Wall Street Refonn and Consumer Protection Act of 2010. 

The Federal Deposit Insurance Corporation is working cooperatively with the 

other financial regulatory organizations to develop proposed regulations that would 

effectively implement all aspects of section 94 l(b), including the exception for qualified 

residential mortgages from any credit risk retention requirement, in a manner consistent 

with the language and purposes of that section. We will carefully consider your 

comments as we move forward with this interagency rulernaking process. 

Sincerely, 

Sheila C. Bair