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Showing posts with the label Kamala Harris

MDIs, CDFIs, and the Mosaic Theory; Is Positive Change on the Horizon? by Andrew Taber, Impact Investing Analyst

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  On June 15th, several American financial and political leaders convened in distinct discussions concerning the future of Minority Deposit Institutions (MDIs) and Community Development Financial Institutions (CDFIs). At a White House press conference, a Federal Deposit Insurance Corporation (FDIC) Board meeting and MDI policy statement release, in a House Financial Services Committee statement, and a Georgetown University forum with an all-star cast, minority lending was the conversation of the day. Utilizing the Mosaic Theory, Creative Investment Research contends that the convergence of these events may not be a coincidence, and may signal a significant policy change. We note that the MDI events of June 15th were preceded by a June 14th meeting of the California Public Employees’ Retirement System (CalPERS) Investment Committee. Of particular relevance was a progress report on the Fund’s Sustainable Investment 5 Year Strategy Plan. Fund management discussed diversity and inclusion t

New Perspectives from Black and Brown Entrepreneurs

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This has been a year of biblical proportions, with almost too many historic events to count. Among everyone 2020 has brought our way, one of the most positive has been Kamala Harris, the first female and person of color to become the Vice President of the USA.  Harris epitomizes the best of a new, more diverse country–mixed race, born of immigrants, and a self-made success. From King to Obama to Harris we have come a long way, but as consequential as they are, they represent only a fragment of the black and brown American experience.  Black and brown entrepreneurs have always been an economic force in America, in 2020 creating 4.7 million jobs and $700 billion in revenue. At the same time, they're too often the most impacted by significant events. For example, in 2020, we saw a 41% decline in black businesses, as a direct result of COVID-19 ( Creative Investment Research ). Although corporates pledged over $40 billion to support BLM, the majority of funds will be slowly allocated