With the formal announcement today that President Trump is nominating Jay Powell as the next Chair of the Federal Reserve Board of Governors, it’s not a bad time to breath out … and then breath in. Breath out a sigh of relief that the President chose someone who respects CDFIs and the Community Reinvestment Act […]

Reports in multiple media outlets today indicate that President Trump will nominate Jerome Powell, a sitting governor on the Federal Reserve Board of Governors, to replace current Chair Janet Yellen. As I wrote last week, Powell is the “moderate” choice between Yellen and Stanford University Professor John Taylor. Powell does not seem to have said […]

President Trump has signaled that he is likely to replace Janet Yellen as Chair of the Federal Reserve Board of Governors. Beyond the fact that Yellen has been a champion for CDFIs, community development generally, and the Community Reinvestment Act (CRA), the President’s choice will deeply affect CDFIs and CDFI strategy. The two people the […]

With a swirl of budget maneuvers spinning Congress into a fiscal hurricane, the CDFI industry needs to make sure its core priorities are safe from the storm. For years, CDFI advocacy has relied on key congressional leaders on critical appropriations panels, supported by a steady wave of congressional office visits. In the current policy turmoil, […]

Almost 25 years ago, I sat with Jamie Dimon in his office in New York City. Well before his tenure at JP Morgan Chase (JPMC), Dimon was second in command to Sandy Weill building a financial empire. I went to see Dimon, who I knew from college days, with Martin Paul Trimble, then the Executive […]

On July 31, 1996, just before dusk, I was driving down a dirt road to make a phone call. My family and I were on vacation in Ruidoso, New Mexico, and the CDFI Fund had announced earlier that day the first-ever round of financial awards. I did not have a cell phones then, though they […]

Note (7/27/17): Good for the Boy Scouts for apologizing for the President’s behavior. Yesterday, President Trump used his speech to a global Boy Scouts gathering to extol Bill Levitt, a housing developer. Well, of course he did. Bill Levitt typified, if not personified, racial discrimination in housing. Under the protection of the National Housing Act […]