The Executive Branch DEPARTMENT OF THE TREASURY 1500 Pennsylvania Ave. NW Washington, D.C. 20590 202-622-2000 Its beat: The Treasury is the banking industry's hook into the executive branch, and that by itself would make it among the most important of this town's agencies for bankers. However, the department also directly oversees two banking regulators: the Office of the Comptroller of the Currency and the Office of Thrift Supervision. And when it wants to, the Treasury Department can set policy for all the banking agencies, as was the case late in the Bush administration when White House advisers became concerned that an agency-inspired credit crunch was choking off the economy. For the banking industry, the key point of contact at the Treasury is the under secretary for domestic finance and the assistant secretary for financial institutions policy. The two play a critical role in developing legislative and regulatory policy affecting the banking industry. Reputation: Early in the Clinton administration, the Treasury seemed at the peak of its influence, thanks largely to the presence of Secretary Lloyd Bentsen, one of Washington's senior statesmen. However, its reputation lost some luster with the admission that deputy Treasury Secretary Roger Altman had briefed White House aides on the Whitewater investigation. Although Mr. Altman has resigned, Whitewater continues to cloud the department's effectiveness. Even so, the agency has scored some hard-won victories: funding for the Resolution Trust Corp., legislation creating a community development bank system, and the interstate branching law. Secretary of the Treasury Robert E. Rubin 622-1100 Deputy Treasury secretary Frank Newman 622-2800 Assistant secretary, financial institutions Richard S. Carnell 622-2600 Deputy assistant secretary, financial institutions Fe Morales Marks 622-2610 Assistant secretary, tax policy Leslie Samuels 622-0050 Assistant secretary, economic policy Alicia Haydock Munnell 622-2210 DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT 451 Seventh St. SW Washington, D.C. 20410 (202) 708-1971 Its beat: HUD is the guardian of the nation's housing programs, and as such, it has always been a key agency for institutions that focus on home mortgage and other real estate lending. Lately, though, HUD has stepped up its efforts on fair lending, giving mortgage lenders one more thing to worry about. In addition, HUD holds a seat on the Federal Housing Finance Board. With three vacancies on the board, HUD is effectively in charge. Reputation: HUD has never been seen as a model of efficiency, and with Republicans in power on Capitol Hill, the agency is fighting for its life as never before. The Federal Housing Administration in particular is a target for GOP - and administration - budget cutters. Secretary Henry Cisneros 708-0417 Assistant secretary, housing Nicolas Retsinas 708-3600 Assistant secretary, fair housing Roberta Achtenberg, 708-4252 Assistant secretary, community development Andrew Cuomo, 708-2690 DEPARTMENT OF JUSTICE 10th and Constitution Ave. NW Washington, D.C. 20530 (202) 514-2000 Its beat: The Justice Department is actively involved in two aspects of banking. The civil rights division investigates violations of the Fair Housing Act and the Equal Credit Opportunity Act. This includes last summer's famous prosecution of Chevy Chase Federal Savings Bank. And the department's antitrust division reviews all bank mergers. While the department can't formally reject an application, most bankers will amend their plans or agree to divest branches to gain the agency's blessing. If the department does object, it can sue. Reputation: The department clearly is a leader in the fair-lending arena, dragging the banking agencies with it. It's safe to say that the Justice Department's enforcement actions during the past three years have caused most institutions to review their lending policies. This activity has also created a cottage industry - fair-lending consultants. Bankers say they are itching to challenge the department on fair-lending law, claiming they would squash the agency in court. But every institution involved in an actual dispute has settled out of court rather than square off before a judge. The antitrust division also has a reputation as being tough on mergers. Under guidelines the department has released in draft form, it would no longer routinely count thrift deposits when determining the size of a deposit market for purposes of judging how much concentration a merger would produce. The Justice Department also puts greater emphasis on small business lending, rather than looking at the entire market for banking services. Attorney General Janet Reno 202-514-2001 Assistant attorney general, civil rights division Deval Patrick 202-514-2151 Chief of the housing and civil enforcement section, civil rights division Paul Hancock 202-514-4713 Assistant attorney general, anti-trust division Anne Bingaman 202-514-2401 Deputy assistant attorney general for merger enforcement, anti-trust division Steve Sunshine 202-514-1157 Regulatory Agencies FEDERAL DEPOSIT INSURANCE CORP. 550 17th St. NW Washington, D.C. 20429 202-393-8400 Its beat: The FDIC reimburses depositors when banks or thrifts fail, up to the $100,000 insurance limit. The agency collects premiums from insured institutions to finance the Bank Insurance Fund and the Savings Association Insurance Fund. From eight offices around the country, the FDIC also supervises the 7,000 state banks that are not members of the Federal Reserve. (The FDIC has the power to examine any other bank or thrift). While the agency does not close banks, its staff of 11,600 oversees the resolution of failed banks and their assets. In July, the FDIC will assume responsibility for thrift failures as well. Reputation: The FDIC has been revitalized under its new chairman, who was sworn in last fall after a bitter confirmation battle in the Senate. Before Ricki Helfer's arrival, the agency had coasted under Andrew C. Hove Jr., its acting chairman for two years. While Ms. Helfer and her staff put in long hours on many issues, deposit insurance premiums are dominating the agency's agenda. SAIF is underfunded and losing its deposit base as thrifts scramble to avoid paying six times the premium banks will be charged later this year. The banking industry is almost finished recapitalizing BIF and expects to pay just 4.5 cents on average for every $100 of domestic deposits.