ProfitWise News and Views
Articles on economic development news and trends including small business lending; labor trends and tax incentives to assist underserved communities; consumer issues such as predatory lending, credit scoring and identity theft; regulatory compliance topics; and research activities relevant to community development. Also includes a calendar of events and district news. View Guidelines for Authors.
The material in ProfitWise News and Views is not necessarily endorsed by, and does not necessarily represent views of the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of Chicago.
In this third edition of 2015, NHS’s Kelley Pearson and Chicago Fed Illinois Economic Development Director Jason Keller summarize a second quarter convening at the Fed: NHS of Chicago’s annual Community Banks Partnership meeting. Among other topics, panelists discussed the housing market for ‘millennial’ buyers, and the regulatory landscape for community banks. Desiree Hatcher, the Fed’s community development director for Michigan, explores community benefits agreements and ordinances in Detroit, providing some background, as well as on-the-ground experience in the city as it struggles to regain ground economically. We feature this month a profile of IFF – formerly Illinois Facilities Fund – a CDFI in its 27th year of operation, as it expands its financial and development services to a broad collection of Midwestern states. Download the publication.
Throughout the Great Recession and continuing into the recovery, small businesses have played an important role in creating jobs and stabilizing communities. Stories of small business owners overcoming obstacles to provide valuable services and employment are highlighted regularly by pundits, politicians, and policymakers alike. However, little attention has focused on the question of what drives the financial health of these often young, often very small businesses. Download the publication.