Congresswoman Lee’s Hosts Meeting on Wachovia Acquisition of Golden West Financial
(Washington, DC) – After a meeting yesterday with Wachovia representatives and East Bay community stakeholders, Congresswoman Barbara Lee (D-Oakland) released the following statement regarding the recent acquisition of Golden West Financial, which is headquartered in Oakland:
“Yesterday, I welcomed Wachovia to the East Bay to discuss expectations for its acquisition of Golden West Financial, which is headquartered in Oakland and has made positive impacts on the city and the surrounding region. I believe that as Wachovia moves forward with the acquisition process and develops a long-term plan for California, it should include: Maintaining a headquarters in Oakland and expanding its banking presence in the East Bay; Developing a strong CRA commitment to the state—one that rivals the banks that are already in this region; Ensuring diversity in its executive staff and board of directors; Expanding lending to minorities and small businesses and economic development.
The meeting was positive and, I hope, it will be productive in making these expectations a reality. I look forward to working with Wachovia and to meeting with CEO Ken Thompson to ensure that the acquisition will offer positive opportunities to Wachovia and East Bay residents.”
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