NEW YORK, April 22 /PRNewswire-FirstCall/ -- E*TRADE FINANCIAL Corporation
(NYSE: ET) today announced that E*TRADE Bank has posted an initial draft of
its strategic plan to meet Community Reinvestment Act (CRA) requirements
during 2005. The plan reflects the Company's commitment to investing in
communities through non-profit partnerships to improve neighborhoods and
increase financial literacy. A total of 15 metropolitan statistical (MSA) and
metropolitan district (MD) assessment areas are included: Washington, DC
(including MD, VA, WV); Los Angeles, Oakland, Orange County, Riverside-San
Bernardino, Sacramento, San Diego, San Francisco and San Jose, CA; Chicago,
IL; Baltimore and Bethesda, MD; Nassau-Suffolk and New York, NY; and
Philadelphia, PA.
E*TRADE Bank has made the plan available to the public and is currently
accepting comments. Interested parties can print a copy from the E*TRADE
FINANCIAL website (http://www.etrade.com) under the "About Us" section, via the
"Community Investment" tab. Individuals may also request a copy by mail or by
visiting E*TRADE Bank at 671 North Glebe Road, Arlington, VA, during regular
weekday business hours. Requests or comments regarding the plan should be
directed to Kelvin James, Senior Manager, Community Investment, at
kelvin.james@etrade.com or 800-546-3279, ext. 7519.
E*TRADE Bank will review all comments and incorporate suggestions to the
plan at its discretion. Comments and suggestions will be accepted until
Friday, May 27, 2005, at which time the plan will be submitted for approval to
the Office of Thrift Supervision (OTS). E*TRADE Bank received a satisfactory
evaluation from the OTS for its performance under the Large Bank test, as of
February 23, 2004.
About E*TRADE FINANCIAL
The E*TRADE FINANCIAL family of companies provides financial services
including trading, investing, banking and lending for retail, corporate and
institutional customers. Bank and lending products and services are offered
by E*TRADE Bank, a Federal savings bank, Member FDIC, or its subsidiaries.
Bank deposits are FDIC-insured up to $100,000.
Important Notice
E*TRADE FINANCIAL and the E*TRADE FINANCIAL logo are registered trademarks
or trademarks of E*TRADE FINANCIAL Corporation. The statements contained in
this news release that are forward-looking are based on current expectations
that are subject to a number of uncertainties and risks, and actual results
may differ materially. The uncertainties and risks include, but are not
limited to, changes in market activity, anticipated increases in the rate of
new customer acquisition, the conversion of new visitors to the site to
customers, the activity of customers and assets held at the institution,
seasonality, the development and enhancement of products and services,
competitive pressures (including price competition), system failures, economic
and political conditions, changes in consumer behavior and the introduction of
competing products having technological and/or other advantages. Further
information about these risks and uncertainties can be found in the
information included in the annual reports previously filed by E*TRADE Group,
Inc. or E*TRADE FINANCIAL Corporation with the SEC on Form 10-K (including
information under the caption "Risk Factors") and quarterly reports on
Form 10-Q.
E*TRADE FINANCIAL Media Contact
Pam Erickson
E*TRADE FINANCIAL Corporation
617-296-6080
pam.erickson@etrade.com
E*TRADE FINANCIAL Investor Relations Contact
Adam Townsend
E*TRADE FINANCIAL Corporation
703-236-8719
adam.townsend@etrade.com
SOURCE E*TRADE FINANCIAL Corporation
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Related links:
http://www.etrade.com
CONTACT:
media, Pam Erickson, +1-617-296-6080, or
pam.erickson@etrade.com, or investors, Adam Townsend,
+1-703-236-8719, or adam.townsend@etrade.com, both of E*TRADE
FINANCIAL Corporation
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