Sen. Phil Gramm, chairman of the Senate Committee on Banking, Housing and Urban Affairs, has announced a full committee hearing on nominations to the Federal Deposit Insurance Corporation and the Federal Transit Administration.

WHAT:

Nominations Hearing

WHEN:

9:30 a.m. Thursday, May 11, 2000

WHERE:

Room 538 Dirksen Senate Building

WHO:

Mr. Richard Court Houseworth, of Arizona, to be a member of the board of directors of the Federal Deposit Insurance Corporation for the remainder of the term expiring December 25, 2001.

The FDIC is an independent agency that insures banks and thrifts and resolves and liquidates failed institutions. The corporation also has regulatory functions such as examining state-chartered banks periodically.

Ms. Nuria I. Fernandez, of Illinois, to be Federal Transit Administrator.

The administrator of the Federal Transit Administration at the U.S. Department of Transportation directs and controls the operations of the FTA and acts as principal adviser to the Transportation Secretary on urban mass transportation matters. The FTA is responsible for exercising the authority vested in the secretary for developing comprehensive and coordinated mass transportation systems to serve metropolitan and other urban areas; administering urban mass transportation programs and functions, and assuring appropriate liaison and coordination with other governmental organizations.