October 13 at 11:30 am PDT/2:30 pm EDT

Restricted access to capital has been a longstanding factor limiting the ability of many minority-owned businesses to increase scale and drive economic development for their communities and the nation at large. The COVID-19 crisis, which has been disproportionately devastating for African Americans, has hit Black-owned businesses especially hard. Minority Depository Institutions (MDIs) and Community Development Financial Institutions (CDFIs) are federally designated financial institutions with well-evidenced track records of targeting underserved populations, albeit at small scale. This session will explore how MDIs and CDFIs can democratize access to capital and the role that government and private lenders should play in realizing that objective.

Moderator

Marc Morial
President and CEO, National Urban League; Former Mayor, New Orleans
 

Speakers

Brian Brooks
Acting Comptroller of the Currency

Emanuel Friedman
CEO and Co-Chief Investment Officer, EJF Capital LLC

Kenneth Kelly
Chairman and CEO, First Independence Bank

Daniel Letendre
Senior Vice President, CDFI Lending and Investment Executive, Bank of America

Jelena McWilliams
Chairman, Federal Deposit Insurance Corporation