Feedback Appreciated: What Community Members Told Us about Modernizing the Community Reinvestment Act (CRA)

Discussions to share info and seek public comment on proposed changes to modernize the CRA revealed two things key for ensuring access to capital for all people and communities. Read More  

Small Business Credit Survey 2021 Report on Employer Firms

The Federal Reserve Banks’ Small Business Credit Survey 2021 Report on Employer Firms highlights the headwinds facing small firms as they navigate the impact of the COVID-19 pandemic. Most firms reported declines in revenues and employment in the 12 months prior to the survey, and a majority expect challenges to persist. Nearly one-third of firms say they’re unlikely to survive without additional government aid until sales recover. Read More  

The CRA Is Important for Underserved Communities, and Your Input Can Help Modernize It

The Fed is seeking to modernize the Community Reinvestment Act in a way that significantly expands financial inclusion, and you can have a say in how it’s done. Read More  

Equality Is Not Enough: Reflections on the Paycheck Protection Program

Our society often designs and implements policies that prioritize equality, but prioritizing equity or justice would better address the disparities between racial groups. Read More  

An Uphill Battle: COVID-19’s Outsized Toll on Minority-Owned Firms

Data suggest that minority-owned small businesses have been disproportionately impacted by the pandemic. This report considers various data sources and examines possible explanations for race-level differences in COVID-19’s impact on businesses. Read More