Today’s Washington Post features an important op-ed contrasting┬áthe folly of the Trump tax bill against the everyday realities of life in the small city–Bloomington, Indiana, to be specific. Bloomington Mayor John Hamilton, founder and former Board Chair of City First Bank, a CDFI serving Washington, DC, makes the simple and significant point that no city […]

This morning, I spent 45 minutes convincing a Verizon support person–via chat–to credit my account for charges I did not authorize. In the end, he issued a $55 credit, up from $11 at the start. Was it a good idea? Was it worth it? A new book suggests, “Probably not!” Dollars and Sense: How We […]

Today money+purpose is monitoring the CDFI Fund’s Advisory Board meeting in Washington, DC. Look for news updates during the day. One Big Takeaway from the Day: From Secretary Mnuchin through senior Treasury staff to Advisory Board Meetings, the day was upbeat and positive. The CDFI Fund’s bipartisan appeal seems to continue at a steady pace, […]

The announcement today that Richard Cordray will step down as Director of the Consumer Financial Protection Bureau (CFPB) made headlines and puts the work of the CFPB at risk. Less visible but no less significant in today’s news is the New York Times’ story about the taming of the Office of the Comptroller of the […]

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 […]