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The Wall Street Journal: Biden to Nominate Michael Barr as Top Fed Banking Regulator

The Wall Street Journal, April 15, 2022, Biden to Nominate Michael Barr as Top Fed Banking Regulator

After Ms. Raskin’s and Ms. Omarova’s withdrawals at the hands of Republicans and centrist Democrats in the Senate, some banking experts see Mr. Barr’s nomination as a White House tack toward the center.

“Certainly the political winds have shifted,” said Jesse Van Tol, the president of the National Community Reinvestment Coalition, who supports Mr. Barr’s nomination. “There’s a sense that perhaps there was an overreach in terms of what was possible. I mean, after all, the political calculus is 50 votes in the Senate.”

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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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