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NCRC Congratulates Lisa Cook On Her Confirmation To The Federal Reserve Board

The Senate on Tuesday confirmed Dr. Lisa Cook to serve as the nation’s first Black woman Federal Reserve Board Governor.

Jesse Van Tol, President and CEO of the National Community Reinvestment Coalition, made the following statement:

“Dr. Cook’s confirmation is both historic and essential. She is extensively qualified and is now the first Black woman to serve on the Federal Reserve Board, bringing both expertise and personal perspective that the board has never had.

“Her confirmation comes at a critical time for communities all across the country. Along with managing inflation and the economic recovery from the pandemic, the Federal Reserve, along with the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation, recently released a joint notice for proposed rulemaking for the Community Reinvestment Act (CRA).   

“We look forward to working with Dr. Cook on finalizing new CRA rules that increase lending, investments and services to low- and moderate-income communities and communities of color.”

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Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

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