Who was the first African-American to become Chairman and CEO of Fannie Mae?

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Study for the Black History Bowl Test. Engage with flashcards and multiple-choice questions, each with hints and detailed explanations. Prepare to excel in your exam!

Multiple Choice

Who was the first African-American to become Chairman and CEO of Fannie Mae?

Explanation:
Franklin Raines is recognized as the first African-American to serve as Chairman and CEO of Fannie Mae, a major player in the U.S. mortgage market. He held this position from 1999 to 2004, during which he worked to increase homeownership rates among low- to moderate-income families. Raines had a significant impact on Fannie Mae's operations and policies, emphasizing the importance of making housing more accessible. His leadership not only marked a historic milestone in the financial sector but also exemplified the increasing diversity in executive roles within major corporations. This achievement is particularly notable against the backdrop of challenges faced by African-Americans in corporate leadership positions.

Franklin Raines is recognized as the first African-American to serve as Chairman and CEO of Fannie Mae, a major player in the U.S. mortgage market. He held this position from 1999 to 2004, during which he worked to increase homeownership rates among low- to moderate-income families. Raines had a significant impact on Fannie Mae's operations and policies, emphasizing the importance of making housing more accessible. His leadership not only marked a historic milestone in the financial sector but also exemplified the increasing diversity in executive roles within major corporations. This achievement is particularly notable against the backdrop of challenges faced by African-Americans in corporate leadership positions.

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