NEW YORK — Clifford Rosenthal, CEO of the National Federation of Community Development Credit Unions, has been recognized by the Opportunity Finance Network for his work to support community development lending.

Rosenthal has been awarded the OFN's Ned Gramlich Lifetime Achievement Award for Responsible Lending. The award is named for former Federal Reserve board member Ned Gramlich who is considered a strong advocate of responsible lending.

"I offer my sincere congratulations to Cliff on being awarded the The Ned Gramlich Lifetime Achievement Award for Responsible Lending, said Federal Reserve Board Chairman Ben Bernanke. "Cliff has dedicated an illustrious career to expanding economic opportunities for lower-income households and communities. His considerable contributions toward this end exemplify Ned's legacy as an advocate for policies and practices that help families at the lower levels of the income scale improve their financial well-being."