Contact: Media Representative 612-204-5261 Date: September 9, 1999 FOR IMMEDIATE RELEASE

Federal Reserve Bank of Minneapolis Co-Sponsors Native American Economic Development and Housing Conference

MINNEAPOLIS—The Federal Reserve Bank of Minneapolis will co-sponsor a conference in Mille Lacs, Minn., Sept. 27-29. “Walking the Native Path: Seeking Solutions Through Economic Development” is a three-day conference focused on lending, housing and economic development issues for those already doing business in Indian Country and for those financial institutions who would like to cultivate their business relationships with Native American tribal groups. The seminar targets tribes and financial institutions in the Ninth Federal Reserve District states of Minnesota, North and South Dakota, Montana, Wisconsin and Michigan as well as Wyoming, Nebraska, Kansas and Iowa.

The conference seeks to inform participants about cultural differences, sovereign immunity and using trust land as collateral, among other issues. Most importantly, participants should come away from the conference understanding the principal characteristics involved with housing and economic development on tribal lands. Attendees will hear success stories about tribal communities and financial institution partnerships, as well as receive up-to-date information on accessing and using financial and technical assistance programs.

Main speakers include Marge Anderson, chief executive officer of the Mille Lacs Band of Ojibwe. Anderson is a nationally recognized leader in promoting housing and economic development in Indian Country. Clyde Tyndall, chairman of the Native Council on Economic and Community Development Corp., Gregg Bourland, chairman of the Cheyenne River Sioux Tribe, and Patrick Borunda, director of OWEESTA, First Nations Development Institute, will also speak.

Other sponsors are Fannie Mae, Minnesota; Federal Deposit Insurance Corp., Kansas City and San Francisco; Federal Home Loan Bank of Des Moines; Department of Housing and Urban Development; The Minnesota Chippewa Tribe Housing Finance Corp.; Minnesota Dakota Indian Housing Authority; Minnesota Housing Finance Agency; Office of the Comptroller of the Currency, Kansas City; Office of Thrift Supervision, Dallas; Red Lake Housing Finance Agency; and United States Department of Agriculture Rural Development.

Individuals interested in registering for the conference should call the Federal Reserve Bank of Minneapolis community events line at 612-204-5075.

As one of the 12 Federal Reserve Banks, the Federal Reserve Bank of Minneapolis contributes to a variety of Federal Reserve System functions, including operation of a nationwide payments system, distribution of the nation’s currency and coin, supervision and regulation of member banks and bank holding companies, and serving as a fiscal agent for the U.S. Treasury. Additionally, the president of Minneapolis Fed serves as a member of the Federal Open Market Committee, the monetary policymaking arm of the Federal Reserve’s Board of Governors. Together with its branch in Helena, Mont., the Minneapolis Fed serves the Ninth Federal Reserve District, which includes Minnesota, Montana, North and South Dakota, 26 counties in northwestern Wisconsin and the Upper Peninsula of Michigan.

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