HOPE Economic Mobility Forum: Defending Financial Democracy – 11/1/23
HOPE (Hope Credit Union, Hope Enterprise Corporation, and Hope Policy Institute) hosted its Economic Mobility Forum: Defending Financial Democracy on November 1, 2023. The forum brought together a group of national and regional experts to discuss the importance of institutions like Community Development Financial Institutions (CDFIs) and the Consumer Financial Protection Bureau (CFPB) to uplift strategies for wealth generation and protection.
As communities continue to navigate rising interest rates and costs, opportunities to build wealth through home and small business ownership are essential to fostering economic mobility. Unfortunately, these opportunities remain far too elusive in under resourced communities. Lack of capital access and high rates of predatory lending strip wealth from Deep South communities. In the face of these challenges, CDFIs and the CFPB play essential roles in the bridging of gaps and the safeguarding of assets. These institutions, however, find themselves at critical junctures in their histories navigating a series of unprecedented threats.
Opening remarks focused on an overview of the CFPB’s recent research on credit access and banking needs in the South. Conversation then shifted to commentary on the current threats to policies and practices that provide accountability and predictability in the delivery of and access to financial services – particularly for people living in under resourced communities.
Event Panelists:
- Amber Koonce, Assistant Counsel – Legal Defense Fund
- Diane Standaert, Senior Engagement & Policy Fellow – Consumer Financial Protection Bureau
- Tyronne Walker, Vice President for Policy, Strategic Partnerships and Development – Urban League of Louisiana
- Bill Bynum, Chief Executive Officer – HOPE
- Kiyadh Burt, Director – Hope Policy Institute