Last Updated: 02/02/21

2021 Events

Strengthening the Community Reinvestment Act to Advance Financial Inclusion and Equity

The CRA encourages banks and communities to work together to create opportunity and address the needs of low- and moderate-income areas. As regulators consider the first major update to the CRA in 25 years, it is vital to foster dialogue around the law’s impact and how it can be strengthened further.

Community development staff from the Federal Reserve Bank of Chicago will review key elements of a recent Federal Reserve proposal for reforming the CRA, and will highlight questions for public feedback. A panel of community development experts will then share their views on how the CRA could be strengthened to further the law’s core purpose of addressing systemic credit inequities. A Q&A session will follow the panel discussion.

February 4, 2021

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Advancing Household Financial Stability in Detroit

In Detroit, as in other American cities, the health and economic effects of the Covid-19 pandemic have been felt disproportionally by some groups and neighborhoods. Lower-paid workers are being impacted the hardest, with those in the restaurant, hotel, and entertainment industries among those experiencing the highest rates of job loss. Many newly unemployed workers have little personal savings to cushion the blow.

before the pandemic, disadvantaged groups in Detroit were experiencing significant challenges. Many economists agree that the fallout from the Great Recession of 2007–09 was particularly severe in Detroit, which filed for bankruptcy in 2013. With economic hardship caused by the collapse in the housing market still fresh in the memories of Detroit residents, many fear that the current crisis will further impede growth and recovery for the city.

The forum brings together diverse perspectives on how Detroit’s people can recover from the pandemic, overcome long-standing inequities, and rebuild for resilience.

February 2, 2021

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Bridging the Digital Divide for an Inclusive Future

The economic future of both urban and rural places depends on overcoming the digital divide. The pandemic has put into stark relief the ramifications of being on the wrong side of the divide. In particular, the strains on our public education systems, most of which have implemented some form remote learning since March, may have impacts lasting a generation or longer. Besides its effects on education at all levels, digital exclusion (or marginalization) has impacted access to stimulus benefits; efforts to rapidly scale up tele-medicine; work from home; and even basic tasks, such as banking, shopping online for necessities, and connecting with family and friends during a period of crisis. This panel will bring together experts to discuss the current state of the digital divide. They will highlight solutions for building broadband infrastructure where it’s needed, providing access to digital devices, and promoting digital literacy, which has become critical for gaining living-wage employment.

January 28, 2021

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Climate Change Risk in Financial Markets: Advancing the Conversation in 2021

The Federal Reserve Bank of Chicago’s Financial Market Group opened 2021 with a conversation on climate change risk in financial markets.

Panelists representing diverse perspectives discussed the following:

  • How has climate change risk impacted global financial markets to date, and what can we expect moving forward?
  • What are some of the key developments to watch out for—in terms of technology, investing practices, new guidance, etc.?
  • What role can financial markets and the public sector play in better managing this risk moving forward?
  • What are some of the strengths of and opportunities for existing efforts?

January 14, 2021

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27th Annual Automotive Insights Symposium

The onset of the Covid-19 pandemic has disrupted the global economy in ways not seen since World War II. In the second quarter of 2020, the U.S. economy contracted 31.4 percent on a seasonally adjusted annualized basis, and auto sales fell to levels not seen since the 1970s. This has left many OEMs and suppliers wondering how and when their businesses will emerge from the pandemic and if the dynamics of the industry will be changed forever.

The Federal Reserve Bank of Chicago, together with Wards Intelligence, the Center for Automotive Research (CAR), MICHauto, the Detroit Regional Partnership, and the Original Equipment Suppliers Association (OESA), presented a program that covered the state of the automotive industry.

January 13, 2021

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