In this episode of The Nest System – “What Banks Owe Communities” – Editorial Manager Isaiah J. Poole hosts Next System Project fellow Devin Case-Ruchala in a discussion about the future and yet-to-be-fulfilled potential of a landmark community investment law with John Holdsclaw, senior vice president of corporate affairs at National Cooperative Bank, and Gregory Jost, director of organizing at the Banana Kelly Community Improvement Association in New York City and a leading expert in community development issues.
What Banks Owe Communities focuses on a discussion about the Community Reinvestment Act. It’s a law since the late 1970s that’s compelled banks to publicly account for the investments that they make in the low- and moderate-income communities in which they operate. That law today is at a crossroads, between conservatives and financial industry leaders who want to weaken the law, and communities who say the public should be demanding more of the banking sector, not less.
First aired on The Next System Podcast.
Listen to more podcasts from The Next System.