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NATIONAL VIRTUAL SUMMIT

2021

"Building Community Development Intellectual Bandwidth"
The 2021 National Virtual Black & Latino Economic Summit took place Tuesdays & Thursdays from November 2nd - December 7th
Black & Latino Affordable Housing Roundtable
01:02:55

Black & Latino Affordable Housing Roundtable

Home Ownership For Blacks & Latinos Vanishing Post Covid-19 Pandemic Special Guest & Opening Remarks: FHFA Acting Director Sandra Thompson To Give Session Opening Remarks On FHFA’s Efforts To Address Affordable Housing-Home Ownership For Blacks, Latinos and minorities. Black & Latino affordable housing leaders, developer and home ownership experts and panelists from across the United States discuss the issues and obstacles that are contributing to vanishing affordable housing in Black & Latino communities, including dropping Black & Latino home ownership rates this is contributing to a rising racial wealth gap. In this Black & Latino Affordable Housing virtual townhall, Blacks & Latino housing leaders from across the United States will be invited to attend this virtual roundtable with an audience Q&A at end of this affordable housing session. This session opens up with remarks from Acting FHFA Director Sandra Thompson on how the FHFA is working to address minority home ownership and address the racial wealth gap. The Federal Housing Finance Agency provides supervision, regulation, and housing mission oversight of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. Nonprofits, Black & Latino community advocates, Banking Housing Executives, Banking Regulators and Congressional elected officials are invited to attend this affordable housing roundtable and listen to Blacks & Latinos across the U.S. who are actively engaged in Black & Latino affordable housing speak on issues, opportunities and solutions for increasing affordable housing & Black & Latino home ownership. Collectively, the panelists collectively have been engaged in over $1 billion of affordable housing, counseled tens of thousands of Black & Latino home buyers that will provide a lively discussion on “Addressing the Racial Wealth Gap Through Increased Home Ownership”. Moderator: Marcia Griffin (President, Home Free USA-National) Moderator: Marcos Morales (Director, Hogar Hispano-National) Panelists: Adam Briones (CEO, California Community Builders-California) Pastor Alonzo Bell(Pastor, Marin Evers Baptist Church-Detroit) Wanda Best (Executive Director, Upton Planning Committee (UPC)-Baltimore) Dina Harris (CEO, National Faith Home Buyers-Detroit & Atlanta) Al Pina (Chair, FMCRC-Florida, Detroit, Baltimore) Dr. Ruben Guerra (President, Latin Business Association)
New Federal Racial Small Business Lending Law Taking Effect Soon
57:01

New Federal Racial Small Business Lending Law Taking Effect Soon

New Federal Racial Small Business Lending Law Taking Effect Soon: Financial Institution Must Report All Business Loans By Race-Gender-Census Tract: Section 1071 Racial Loan Data Will Identify Racial Economic Exclusion Special Guest Speaker: Speaker: Ms. Elena Babinecz, Managing Counsel-Consumer Financial Protection Bureau (CFPB) Office of Regulations Small business ownership and the jobs it creates, has the greatest impact on both the racial wealth gap and economic inclusion. But lack of access to capital has kept Black & Latino small business owners from expanding and growing both jobs and wealth. The lack of racial small business lending data was a major obstacle in creating racial economic inclusion. Section 1071 of the Dodd Frank Bill of 2010 mandated that all financial institutions (including online lenders) must report all small business loans by race-gender-census tract. After furious objections from the financial industry, 10 years later, the Consumer Financial Protection Bureau (CFPB) announced the new rules for Section 1071 and it is now in a public comment period that will impact the final rules for Section 1071 that will be finally enacted in 2022. Join this session to find out what are the proposed rules and how Black & Latino small business owners and organizations can have a “VOICE” by submitting comments to this new federal law that will shape the final law. CFPB managing counsel, Ms. Elean Babinecz, will provide key details on Section 1071 and the proposed rules for financial institutions and how you can access this racial small business loan data in your city. In closing of session, leaders of the National Minority Community Reinvestment Co-Operative unveil Project 50 where they will work with Black & Latino leaders in 50 cities to publish and promote Section 1071 lending data for their cities to let Blacks & Latinos in these 50 cities which financial institutions are practicing “Racial Economic Inclusion” and which ones are practicing “Racial Economic Exclusion”. Moderators: Adam Briones (CEO, California Community Builders, Oakland) Debra Keller-Greene (Chair, Greater Baltimore Black Chamber of Commerce) Dr. Ruben Guerra (LBA, Los Angeles) Kelvin Perry (President, Black Chamber of Commerce of Greater Kansas City) Al Pina (Chair, Florida Minority Community Reinvestment Coalition) Dr. Al Gourrier(Professor, Univ of Baltimore, School of Public & International Affairs)
Addressing the Racial Wealth Gap with Housing & Small Business
01:03:29

Addressing the Racial Wealth Gap with Housing & Small Business

The pandemic has brought disproportionate hardship to communities across the nation, but it is also presenting an opportunity – a historic moment to make different, more intentional, more equitable choices in how we approach economic recovery. How can the housing sector rethink forbearance, gentrification, inventory, renter demand, and more to expand safe, affordable homes for all? How can the ecosystem of support for small businesses and commercial real estate be reimagined and strengthened to keep jobs and livelihoods thriving, particularly in communities of color and immigrant neighborhoods? What does greater collaboration across the financial sector, including Community Development Financial Institutions and Minority Depository Institutions, look like now and how can it be more impactful? These important questions and more will be part of a panel discussion focused on how racial equity and innovative financing can strengthen the fabric of communities and the national economy. Speakers: Chuck Bishop- National Diverse Segments Head, Home Lending, Wells Fargo Eileen Fitzgerald- Housing Affordability Philanthropy Leader, Social Impact & Sustainability, Wells Fargo Megan Teare- Managing Director, Community Lending and Investments, Wells Fargo Derek Ellington- Head of Small Business Banking, Consumer and Small Business Banking, Wells Fargo Moderators: Monica Mitchell- Senior Community Relations Consultant, Social Impact & Sustainability, Wells Fargo Marcia Griffin- President, Home Free USA- National Marcos Morales- Executive Director, Hogar Hispano, Inc. Dr. Ruben Guerra- President, Latin Business Association Jules Dunham Howie- Director, UPC Westside CDC, Baltimore