“We’re seeing the need to be smart and effective in this moment to make sure that the recovery is stronger and broader than after the last financial crisis.”

As recent developments have renewed interest in harnessing new data and analytical techniques for credit underwriting, stakeholders are asking questions about potential benefits and risks particularly for addressing racial equity issues. FinRegLab Deputy Director Kelly Thompson Cochran wrote an article summarizing recent initiatives and issues for an edition of the Community Development Innovation Review titled “Fintech, Racial Equity, and an Inclusive Financial System” that has been published by the Federal Reserve Bank of San Francisco and the Aspen Institute.

FinRegLab proudly presented a proposal for research on the use of federated machine learning in BSA/AML to the Central Bank of the Future Conference, which was hosted by the Federal Reserve Bank of San Francisco and the University of Michigan’s Center on Finance, Law & Policy.

This research brief surveys how banks are prioritizing pandemic-related needs and being responsive to evolving community conditions in light of their Community Reinvestment Act obligations. Based on a survey of community development officers, institutions are starting to shift beyond meeting short-term needs and leveraging existing projects to develop ideas for new and innovative programs on small-dollar lending, small business technical assistance, and other topics.