Category: Federal Reserve

Bidenomics: A Pragmatic Approach to Economic Growth, Equity, and Competition

Since assuming office, President Joe Biden has implemented an economic agenda known as Bidenomics, aiming to replace the dominant Chicago-school approach to the American economy with a more effective and inclusive set of economic principles. The link below is to an article that examines key elements of Bidenomics, comparing it to past policies and exploring its […]

Wells Fargo Consent Decree Average Penalty: $336 Per Account

According to the Consumer Financial Protection Bureau (CFPB), Wells Fargo Bank (WFB) “incorrectly applied loan payments, erroneously imposed certain fees and charges, incorrectly repossessed customers’ vehicles, and failed to refund certain unearned fees on debt cancellation products; (ii) with respect to home mortgage servicing, incorrectly denied mortgage loan modifications to certain qualified borrowers; and (iii) […]

What is the State of Black Maternal Mortality? How can we improve it?

Research firm Creative Investment Research launched an impact investing vehicle calling on the Federal Reserve to create a funding facility to reduce Black maternal mortality. Almost $35 million in venture capital funding has gone to Black women-founded maternal health startups, but the number is negligible compared to investment in overall healthcare technology.  Maternal healthcare startups […]

Lakeland Bank Shows Signs of “Redlining” Newark

Provident Financial Services has entered a $1.3 billion deal to buy Lakeland Bancorp, which disclosed an ongoing fair lending investigation by the U.S. Justice Department. Provident Financial Services in Iselin, New Jersey, is pursuing a $1.3 billion deal for a rival, Lakeland Bancorp, despite concerns over commercial real estate concentrations and an ongoing fair-lending investigation […]

REPORT: INFLATION REDUCTION ACT COULD BRING BLACK AMERICANS $22.3 BILLION ECONOMIC IMPACT

According to The Inflation Reduction Act and the Black Community, August 2022 report by Creative Investment Research, the figure represents spending and tax rebates that could flow back into the Black community over nine years. The nearly $740 billion health care, tax, and climate bill became a law after President Joe Biden signed it last […]

Fixing Abortion And Black Maternal Mortality Is NOT Up To the Supreme Court. It’s Up to the Fed…

Black women die in childbirth at disproportionate rates compared to their white counterparts. Research conducted by the Centers for Disease Control and Prevention (CDC) clearly shows that social determinants – access to nutrition, transportation, and healthcare——are crucial factors. See: https://www.impactinvesting.online/2022/06/fixing-abortion-and-black-maternal.html