Halfway to Democracy: 25 Years of Community Development Finance
Date: Monday, September 16, 2019
Time: 2:30 PM - 4:00 PM
Venue: City National Bank
Address: 555 S Flower Street, 13th floor, Los Angeles, 90071
To register, click here.
September 23, 2019 will mark 25 years since the Community Development Financial Institutions (CDFIs) Fund was signed into law. Today, there are more than a thousand certified CDFIs, with as much as $175 billion in total assets. They have made an impressive impact on community development—but arguably less so on banking. Have CDFIs promoted “community ownership and governance,” as the original statute directed? Have they empowered minority communities? What are the new forms of community capital-raising and investment?
Clifford N. Rosenthal, cofounder of the CDFI movement, will explore these questions through a presentation based on his recent book, Democratizing Finance: Origins of the Community Development Financial Institutions Movement, which traces the 200-year history of efforts to address financial exclusion in the United States, culminating in the campaign of grassroots activists to unite their vision with that of presidential candidate Bill Clinton.
Cliff Rosenthal formerly headed the National Federation of Community Development Credit Unions (now known as Inclusiv). In Los Angeles, he assisted the organizing of the South Central Peoples FCU and the Episcopal Community FCU. He has received the highest awards of the Opportunity Finance Network, the National Credit Union Foundation, the Insight Center for Community Economic Development, and the African-American Credit Union Coalition.
Light refreshments will be provided. Cliff Rosenthal will be signing books following the presentation. To order Democratizing Finance: Origins of the Community Development Financial Institutions Movement, please visit: www.cliffrosenthal.com