Federal Reserve Chairman Jerome Powell concluded his 72 hour optimistic outlook of the economy by addressing the National Community Reinvestment Coalition at its Just Economy Conference about how the, although strong, economy is not improving the lives of low-moderate income people.
Bankrate: Powell promotes rate pause in final remarks before upcoming Fed meeting Read More »
Michael Innis-Thompson has been appointed to Senior Vice President of the Head of National Community Lending for the bank’s Residential Lending businesses. Innis-Thompson serves the National Community Reinvestment Coalition as well as other community and culture-oriented organizations.
Federal Reserve Board governor Lael Brainard in her keynote address at the National Community Reinvestment Coalition’s Just Economy Conference offered possible changes that might take place in the Community Reinvestment Act reform such as creating separate assessment areas for retail and community development activities and new comprehensive tests for community development.
American Bankers: Fed’s Brainard offers glimpse of what revamped CRA could look like Read More »
Board of Governors of the Federal Reserve System Lael Brainard, one of the keynote speakers at the National Community Reinvestment Coalition’s Just Economy Conference, said during her keynote address that strengthening the Community Reinvestment Act (CRA) is a priority as well as making changes that allow banks to serve the credit needs of rural communities.
Reuters: Fed’s Brainard: More flexible community law could help credit ‘deserts’ Read More »
Federal Reserve Chairman Jerome Powell delivered a video message at the National Community Reinvestment’s annual Just Economy conference where he said that the low-moderate income (LMI) communities are hit the hardest when property values drop. He also said that the struggles of the LMI community are being overshadowed by the current successful state of the U.S. economy according to the Washington Post.
The Washington Post: Powell says strong economy hiding struggles of poor families Read More »
Councilman Peter Ujvagi had planned on attending Democracy Day in Toledo, OH, but instead decided to attend the National Community Reinvestment Coalition’s Just Economy Conference in Washington, DC.
The Blade: Better city council attendance expected at this year’s Democracy Day hearing Read More »
After twelve years spent investing in impact-oriented financial services startups around the globe, the Omidyar Network, which serves as the family investment office for eBay founder Pierre Omidyar, is spinning off its financial inclusion investment arm as Flourish Ventures.
Black-majority cities are rising amid a national conversation surrounding whether they can improve and develop while retaining their black majority.
Brookings: The rise of black-majority cities Read More »
Equifax announced a data breach that resulted in over 150 million people’s information being stolen. Credit bureaus play a vital role in lending decisions and the financial services industry will not sit idle in the midst of the privacy debates.
American Banker: Banks won’t be able to remain on sidelines of privacy debate Read More »
Housing and Urban Development Secretary Ben Carson said he will leave office at the end of President Donald Trump’s first term, saying he could have a greater impact in the private sector.
Politico: HUD’s Carson says he will leave after Trump’s first term Read More »
Nationally, banks have shut 1,915 more branches in lower-income neighborhoods than they’ve opened in the four years through 2018, according to S&P Global Inc. The three largest consumer banks — JPMorgan, Wells Fargo and Bank of America — led the way, S&P said.
Bloomberg: JPMorgan leads banks’ flight from poor neighborhoods Read More »
2020 Democratic candidates have policy plans to invest in communities that have been a victim of discrimination, but the question of whether these policies are a form of reparations has yet to be answered. One must first define what “reparations” actually means.
NPR: 2020 Democrats wrestle with a big question: what are reparations? Read More »
Oregon is poised to become the first state in the nation to impose statewide limits on how much landlords can raise rents after state lawmakers passed a sweeping measure on Tuesday.
The New York Times: Oregon to become first state to impose statewide rent control Read More »
Race appears to trump ethnicity when it come to predicting wealth, according to a new report examining the economic disparities among Miami’s diverse population.
In the mid-Atlantic, increased tidal flooding from 2005 to 2017 extracted $862.1 million in relative property value, the researchers found. Maryland saw a loss of $555.7 million, Delaware almost $300 million and Pennsylvania roughly $10 million.
CBS News: Homes lose $15.8 billion in value as seas rise, Maine to Mississippi Read More »
