The Free Library: Financial Data Exchange expands international footprint with addition of 38 new members.

The Free Library, September 17, 2020: Financial Data Exchange expands international footprint with addition of 38 new members.

Financial Data Exchange (FDX) has announced it has brought its total membership to 140 organizations with the addition of 39 new members since April 1, 2020, the organization said.

Exchange members are working to collectively transition the financial services ecosystem to a modern, transparent and secure API-based data sharing approach.

Since its launch in October 2018 with 21 founding members, FDX has seen an over sixfold increase in members and recently announced the formation of the FDX Canada Working Group. The growing membership is also reflected in the rapid adoption of the FDX API, as data providers, such as financial institutions, data access platforms, like financial data aggregators, and data recipients such as fintech apps, are collectively transitioning to the standard. This translates to more than 12 million consumers, who are now accessing their financial data through FDX’s standard.

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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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