CDFI Fund Director Donna Gambrell Selected to Serve in Treasury's Office of Financial Stability

Washington, DC - On Monday, U.S. Treasury Department Interim Assistant Secretary for Financial Stability Neel Kashkari announced that CDFI Fund Director Donna Gambrell has been selected to serve as interim Chief of Homeownership Preservation. Interim Assistant Secretary Kashkari was appointed by Treasury Secretary Paulson earlier this month to implement the Emergency Economic Stabilization Act of 2008 and to oversee the new Office of Financial Stability.

Director Gambrell will retain her role and responsibilities as the CDFI Fund Director while she serves this important interim role for the Treasury Department's Office of Financial Stability over the next several months.

"I am honored to be chosen as part of the interim team at Treasury to quickly and methodically implement the Troubled Asset Relief Program and I look forward to offering leadership on the topic of homeownership preservation," said Gambrell. "As Director of the CDFI Fund, I have seen how community development financial institutions have a track record of successfully serving the most distressed communities across our nation, and as interim Chief of Homeownership Preservation I will examine every opportunity to help as many homeowners as possible."

In November 2007, Secretary Henry Paulson appointed Director Gambrell to serve a three-year term at the CDFI Fund. Prior to joining the CDFI Fund, Director Gambrell served as Deputy Director, Consumer Protection and Community Affairs in the Division of Supervision and Consumer Protection of the Federal Deposit Insurance Corporation (FDIC). She began her career with the FDIC in April 1991 as a Community Affairs Officer for the New York Region. In 2006, Gambrell worked on the Gulf Coast rebuilding efforts in Louisiana and Mississippi where she spearheaded partnerships among financial institutions and government agencies to promote economic development in areas devastated by Hurricanes Katrina and Rita. Before joining the FDIC, Ms. Gambrell worked at the Resolution Trust Corporation (1989-1991), the Federal Savings and Loan Insurance Corporation (1987-1989), and the U.S. General Accounting Office (1979-1987).

Full Biography of Director Donna Gambrell