Hazel Henderson introduces the program and her guest, Mary Houghton, who talks about the role of Shore Bank in servicing red-lined neighborhoods in Chicago.
A Powerful Model (02:07)
Houghton cites the influence on investors of a regulated bank example in a neighborhood. After ten slow years of accommodation, the bank took off.
Confronting Pay Day Lending (02:30)
Houghton talks about how technology has removed much of the cost of traditional banking. Programs from Financial Services Innovation research help underserved people avoid predatory lending.
Consumer Protection Agency (02:48)
The ten biggest banks hold 75% of all US deposits. Customer service is no longer the focus. Henderson and guest discuss the Consumer Protection Agency championed by Senator Elizabeth Warren.
Cell Phone Banking (02:28)
As cell phone banking and microfinance lending spread in Africa, Asia and Latin America, the US lags in this efficient and less costly service to the underserved community.
While crowdfunding is taking off, only California allows crowd-investing. Henderson discusses proposals of former head of FDIC, Sheila Bair, in her new book, but regrets the influence of Wall Street on possible change.
Power of Depositors (02:37)
Henderson discusses non-profit credit unions and the public banking option like the Bank of North Dakota that did not go to Wall Street to invest. Houghton hopes this model will influence the commercial banks.
Glass-Steagall Separation of Bank Functions (01:52)
A return to Glass-Steagall would encourage banks to serve the community rather than extract wealth for shareholders. New community development organizations address the needed reforms.
Cooperation Needed (01:45)
Non-profit community development financial institutions and credit unions address different needs but could work together more, cooperating for the good of the community.
Credits: Banking for the Common Good: Ethical Markets 5 (01:23)
Credits: Banking for the Common Good: Ethical Markets 5
For additional digital leasing and purchase options contact a media consultant at 800-257-5126
(press option 3) or email@example.com.