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What Did GameStop Teach Us About Fintech Investing Apps?

Just Economy Conference – May 11, 2021

 

The word “GameStop” no longer means a place to trade used video games – it now describes a take-from-the-rich give-to-the-poor moment where Redditors used fintech investment apps to upend Wall Street. We will move past the simple reports of winners and losers to explore how fintech is changing investing, how some apps use behavioral economics to encourage trading, and where policymakers should intervene. We will hear from consumer advocates, Congressional staff, and industry on the lesson of GameStop and what it says about the future of fintech.

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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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