Amalgamated Bank Joins with Center for Responsible Lending, National Action Network and Other Civil Rights & Consumer Advocates to Call on FHFA to Protect Fannie Mae and Freddie Mac

NEW YORK – Today, Keith Mestrich, President and CEO of Amalgamated Bank, released the following statement on Amalgamated’s joint letter urging Federal Housing Finance Agency Director Mel Watts to recapitalize Fannie Mae and Freddie Mac. The letter was co-signed by the Center for Responsible Lending, the Community Home Lenders Association, the Community Mortgage Lenders of America, the Corporation for Enterprise Development, The Leadership Conference on Civil and Human Rights, Leading Builders of America, the NAACP, the National Action Network and the National Community Reinvestment Coalition.

“We are extremely proud to partner with such an esteemed group of civil rights organizations and consumer advocates in urging the Federal Housing Finance Agency to take immediate action to preserve the solvency of Fannie Mae and Freddie Mac,” said Keith Mestrich, President & CEO of Amalgamated Bank. “These two institutions are the bedrock of our nation’s housing economy. The FHFA must take every possible action to protect them and to keep housing finance accessible and affordable, so that we can empower more hardworking families to realize the American dream of buying their own home.”