Tuesday, August 30, 2011

Sheila Bair, Former FDIC Chair, to Keynote at Fiserv Innovate 2011



  • Key bank regulator and credit union supporter to share insider perspectives on the financial crisis, financial legislation and future impacts
  • Bair is credited with developing innovative and stabilizing programs for credit markets, deposit insurance, and mortgage lending
  • Fiserv client conference for credit unions to be held Sept. 19-22 in Las Vegas
BROOKFIELD, Wis.--(BUSINESS WIRE)--Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, today announced that the Honorable Sheila C. Bair, former Chairman of the Federal Deposit Insurance Corporation (FDIC), will deliver the keynote address at Innovate 2011, the annual client conference hosted by Credit Union Solutions from Fiserv. This will be one of her first public appearances since stepping down on July 8, 2011 upon completion of her five-year term.
“The full policy ramifications – who's paying for what, who's going to pay more and who's going to pay less under this – is something that maybe wasn't dealt with as thoroughly as it might have been”
As FDIC Chairman, Bair presided over a tumultuous period in the nation’s financial sector, working to bolster public confidence and system stability. In response to the financial crisis, she developed innovative and stabilizing programs that provided temporary liquidity guarantees to unfreeze credit markets and increased deposit insurance limits. In 2007, she was a singular–and prescient–advocate for systematic loan modifications to stem the coming tidal wave of foreclosures.
Fiserv Credit Union Solutions president, Mark Sievewright, welcomes Bair to the Innovate agenda, praising her effectiveness at the FDIC as well as her insight into financial regulation.
“Sheila Bair played a pivotal role in shaping measures designed to deal with the most significant financial crisis we have experienced since the Great Depression. We look forward to hearing her perspective on what happened and what is likely to happen next, especially given the more recent challenges in financial markets,” Sievewright said.
Bair was outspoken in supporting credit union concerns regarding debit card interchange fees. “The full policy ramifications – who's paying for what, who's going to pay more and who's going to pay less under this – is something that maybe wasn't dealt with as thoroughly as it might have been,” Bair told the Senate Banking Committee February 22. She also visited the student credit union at T.C. Williams High School in Alexandria, Va., last year to help launch a government initiative to improve financial literacy.
Bair received a number of prestigious honors during her tenure as FDIC Chairman. In 2008 and 2009, Forbes magazine named Bair as the second Most Powerful Woman in the world, after Germany’s Chancellor Angela Merkel. She is author of two books about money, both written for children, and is now writing an insider account of the recent financial crisis. Bull by the Horns: What Main Street Must Do to Fix Wall Street is slated for publication in 2012.
Innovate 2011, the credit union community’s largest technology-focused event, offers Fiserv client credit unions unmatched exposure to solutions and insights that are relevant, practical and responsive in today’s digital, connected world. Held at The Venetian in Las Vegas, September 19–22, Innovate gives Fiserv clients the opportunity to review market trends, talk with leading experts and explore integrated, results-oriented solutions.
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About Fiserv
Fiserv, Inc. (NASDAQ: FISV) is the leading global provider of information management and electronic commerce systems for the financial services industry, driving innovation that transforms experiences for financial institutions and their customers. Fiserv is ranked No. 1 on the FinTech 100 survey of top technology partners to the financial services industry. For more information, visit www.fiserv.com.
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