Every year, the Community Reinvestment Act (CRA) helps federally insured regulated financial institutions meet the credit needs of the communities in which they operate.1 To this end, CRA supports affordable housing efforts, small business and small farm development, as well as other initiatives that revitalize and/or stabilize low- and moderate-income communities. Thus, understanding how... Read More
The term “community development” is narrowly defined in the Community Reinvestment Act (CRA). However, one of the more prominent components is lending and investment in affordable housing (including multi-family and rental units) for low- and moderate-income residents.1 The Fed's Community Development and Policy Studies (CDPS) division works to foster the active engagement of depo... Read More
In the Community Development and Policy Studies (CDPS) Department's field work throughout the Seventh District, CDPS contacts - in varying contexts - have voiced concerns about conditions impacting low- and moderate-income (LMI) communities. CDPS' goals include conducting research on community and economic development topics that impact lower-wealth, lower-income, and recent immigrant pop... Read More
In a recent blog, I shared my observations about Pittsburgh's efforts to revitalize its urban core. Then, I analyzed the extent to which Pittsburgh's turnaround can serve as a model for Detroit as its city leaders and stakeholders look to revitalize the city's urban core. While Detroit has begun to replicate the efforts of other cities, such as showcasing the city's riverfront with the De... Read More
In the digital era, broadband is essential for running a business, finding a job, and getting and receiving most types of mainstream data and information. Yet disparity in broadband use remains a concern across communities, affecting both businesses and households. The Federal Reserve Bank of Chicago-Detroit Branch recently organized its fifth videoconference discussion with the Federal ... Read More
In the Community Development and Policy Studies (CDPS) Department's field work throughout the Seventh District, CDPS contacts - in varying contexts - have voiced concerns about conditions impacting low- and moderate-income (LMI) communities. CDPS' goals include conducting research on community and economic development topics that impact lower-wealth, lower-income, and recent immigrant pop... Read More
Stemming from the Industrial Cities Initiative, which explored the economies of former Seventh District manufacturing hub cities over 50 years, the Chicago Fed's Community Development and Policy Studies (CDPS) has placed a continued focus on workforce development and its relevancy for marginalized populations. Among various events and publications, a 2013 edition of ProfitWise News and Vi... Read More
In Community Development and Policy Studies (CDPS) field work throughout the Seventh District, CDPS contacts - in varying contexts - have voiced concerns about conditions impacting low- and moderate-income (LMI) populations and communities. CDPS conducts regular surveys of people representing organizations that serve LMI communities in varying ways. Our survey respondents represent organi... Read More
The Minority Capital Access forum in October 2014, hosted by the Community Development and Policy Studies Department, brought together panels of experts to reflect on recent efforts in Detroit to support small business owners, and to identify strategies that help funders connect with minority businesses with capital.1 Panelists representing banks and nonprofit lenders delivered a... Read More
In Community Development and Policy Studies (CDPS) field work throughout the Seventh District, CDPS contacts - in varying contexts - have voiced concerns about conditions impacting low- and moderate-income (LMI) populations and communities. CDPS conducts regular surveys of people representing organizations that serve LMI communities in varying ways. Our survey respondents represent organi... Read More
