In particular, with the passage of the Gramm-Leach-Bliley Act, our financial services industry will be better able to meet those demands in the decades to come through prudent innovation. As an example of innovation and adaptation, I note that your own organization is widening its scope to invite membership from the entire financial services industry.
Broadening your reach to include insurance, brokerage and other financial services not only reflects market realities but should also assist in your endeavors to improve the economic development of underserved communities and promote the professional growth of your members. While innovations and adaptations in our economy have helped create and prolong the prosperity we are now enjoying, they also bring to bear new challenges.