Democratizing Finance: Origins of the Community Development Financial Institutions Movement

FriesenPress
Free sample

Decades before Occupy Wall Street challenged the American financial system, activists began organizing alternatives to provide capital to “unbankable” communities and the poor. With roots in the civil rights, anti-poverty, and other progressive movements, they brought little training in finance. They formed nonprofit loan funds, credit unions, and even a new bank—organizations that by 1992 became known as “community development financial institutions,” or CDFIs.

By melding their vision with that of President Clinton, CDFIs grew from church basements and kitchen tables to number more than 1,000 institutions with billions of dollars of capital. They have helped transform community development by providing credit and financial services across the United States, from inner cities to Native American reservations.

Democratizing Finance traces the roots of community development finance over two centuries, a history that runs from Benjamin Franklin, through an ill-starred bank for African American veterans of the Civil War, the birth of the credit union movement, and the War on Poverty. Drawn from hundreds of interviews with CDFI leaders, presidential archives, and congressional testimony, Democratizing Finance provides an insider view of an extraordinary public policy success. Democratizing Finance is a unique resource for practitioners, policymakers, researchers, and social investors.
Read more
Collapse

About the author

Clifford Rosenthal cofounded and for two decades served in the leadership of the CDFI movement. As president of the National Federation of Community Development Credit Unions and later as the first director of the Office of Financial Empowerment of the Consumer Financial Protection Bureau, he devoted his career to bringing financial services to low-income and minority communities. His first career was as a Russian historian and translator.
Read more
Collapse
Loading…

Additional Information

Publisher
FriesenPress
Read more
Collapse
Published on
Nov 7, 2018
Read more
Collapse
Pages
556
Read more
Collapse
ISBN
9781525536649
Read more
Collapse
Read more
Collapse
Read more
Collapse
Language
English
Read more
Collapse
Genres
Business & Economics / Banks & Banking
History / United States / 20th Century
Social Science / Social Classes & Economic Disparity
Read more
Collapse
Content protection
This content is DRM protected.
Read more
Collapse
Read aloud
Available on Android devices
Read more
Collapse
Eligible for Family Library

Reading information

Smartphones and Tablets

Install the Google Play Books app for Android and iPad/iPhone. It syncs automatically with your account and allows you to read online or offline wherever you are.

Laptops and Computers

You can read books purchased on Google Play using your computer's web browser.

eReaders and other devices

To read on e-ink devices like the Sony eReader or Barnes & Noble Nook, you'll need to download a file and transfer it to your device. Please follow the detailed Help center instructions to transfer the files to supported eReaders.
©2020 GoogleSite Terms of ServicePrivacyDevelopersArtistsAbout Google|Location: United StatesLanguage: English (United States)
By purchasing this item, you are transacting with Google Payments and agreeing to the Google Payments Terms of Service and Privacy Notice.