NCRC Statement on the Nomination of Sarah Bloom Raskin as Deputy Treasury Secretary

 

Washington, DC – Today, in reaction to the news that President Obama has nominated Federal Reserve Board Governor Sarah Bloom Raskin to serve as Deputy Treasury Secretary, NCRC President and CEO John Taylor made the following statement: 

“Sarah Bloom Raskin is sure to be an excellent Deputy Treasury Secretary, and we urge her prompt confirmation. Governor Raskin has an outstanding record in consumer protection and financial regulation. As a Federal Reserve Board Governor, she has shown an exceptional sensitivity to the needs of consumers and low- and moderate-income communities. Her voice and presence on the Federal Reserve Board will be missed.” 

“Pending her departure from the Board, it will be essential that the President strive to fill the vacancy, and other future vacancies, with individuals like Sarah Bloom Raskin, who have strong backgrounds in consumer issues.”

About the National Community Reinvestment Coalition (NCRC):

The National Community Reinvestment Coalition is an association of more than 600 community-based organizations that promote access to basic banking services, including credit and savings, to create and sustain affordable housing, job development, and vibrant communities for America’s working families.

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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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