WASHINGTON, DC— U.S. Representative Melvin L. Watt (D-NC), Chairman of the Subcommittee on Oversight and Investigations, today announced the first in a series of hearings focusing on the role of women and minorities in the financial services industry. This hearing will focus on the role of minority-owned financial institutions in the U.S. economy and examine the roles and responsibilities of the federal government in preserving and expanding minority-owned financial institutions.

Congressman Watt said, "This hearing will highlight the important, but often overlooked, role that minority banks play in the economy. I look forward to hearing from federal regulators and from minority-owned banks about best practices for preserving and expanding this important segment of the financial services industry."