PR Newswire: Zest AI Joins NCRC’s Innovation Council for Financial Inclusion

PR Newswire, March 31, 2022, Zest AI Joins NCRC’s Innovation Council for Financial Inclusion

Zest AI, a leader in software for AI-driven lending, has joined the National Community Reinvestment Coalition’s (NCRC) Innovation Council for Financial Inclusion. The Innovation Council is a forum to create collective action between the financial technology community and grassroots community leaders to advance financial inclusion and opportunities for low-wealth households and people of color.

“We welcome Zest AI to the council as we continue to pursue significant regulatory changes that will ensure more equitable decision making in lending algorithms,” said Jesse Van Tol, President and CEO of NCRC. “Their background and expertise will amplify our collective message and highlight the value of justice that both advocates and community leaders share.”

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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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