Posted by Maryellen Lewis on February 04, 2002 at 19:20:47:
In Reply to: Opportunities & Obstacles in the Global Justice Movement posted by Alejandro Bendaña, Centro de Estudios Internacionales on February 04, 2002 at 18:58:11:
Hello,
I just read the current issue of What’s in the News at FPIF? and I feel strongly that we are missing an opportunity here.
The issues raised in the forum, **Future of the Global Justice Movement make me realize that the parallel movement for ECONOMIC JUSTICE -- including such warriors as the National Community Reinvestment Coalition and its over 800 national and international collaborating organizations -- must be incorporated into the debate about protecting the Global Commons.
Like so many grassroots initiatives, this fight -- against exclusion from the international financial flows, and against the redesign of the Global Financial Infrastructure which is proceeding WITHOUT COMMUNITY VOICES -- is carried out by grassroots networks and their allies, which never seem to receive the call to global forums like yours. Last year in Sweden I met hundreds of activists from 22 nations, working on a shared agenda but with few means of collaboration to help them join together against profit-taking and disinvestment by corporations moving without constraint through their economies.
I urge you to make a hard-link with this movement and insure that "financial modernization" will help rather than hinder low-income and power-poor communities and nations to strengthen their economies by their own design.
As a start, I hope you might attend the upcoming conference in Washington DC by the National Community Reinvestment Coalition (information below). Although incorporated and most active in the U.S., NCRC has become the hub for an international network seeking to make change, and has already begun to discuss how to move to the next level: To craft an INTERNATIONAL COMMUNITY REINVESTMENT ACT, in order to clarify explicit public expectations about the people-centered obligations of banks, insurance companies and other financial institutions.
Please contact NCRC's President, Mr. John Taylor, to find creative ways to join these various streams into a truly powerful, rooted and dynamic flow.
Sincerely,
Maryellen J. Lewis
Board Member, National Community Reinvestment Coalition
Member, Bank/Community National Collaborative Council
[contact information below]
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NATIONAL COMMUNITY REINVESTMENT COALITION
11TH ANNUAL CONFERENCE
"Capital Access 2002: Accessing Resources for Economic Development"
http://www.ncrc.org/
February 26-March 1, 2002
Omni Shoreham Hotel
Washington, DC USA
[For more details, call (202) 628-8866]
5 TRACKS:
1 -- ACCESS TO CREDIT AND CAPITAL
2 -- BEYOND BANKS AND THRIFTS
3 -- ENSURING FAIR ACCESS
4 -- BUILDING ORGANIZATIONAL STRENGTH & CAPACITY
5 -- ECONOMIC JUSTICE ON A GLOBAL SCALE
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TRACK 5: ECONOMIC JUSTICE ON A GLOBAL SCALE
Globalization of Banking:
What happens when banks grow their international ties and interests? Where, if anywhere, will multinational banks call "home," and give priority for their investments to increase local development? How do a stronger European Union, restructuring in Eastern Europe, and other regional changes impact fair lending laws, and efforts to create them where they do not exist? Get answers to these and other questions as you meet authorities and colleagues from other lands.
Cross-Cultural Connections:
Given the globalization of finance, how do NGOs (Non-Government Organizations) and community leaders from different cultures collaborate to improve access to credit and capital? As governments and economies change, how can NGO, government, and other leaders secure better conditions for working-class people? What networks support cross-cultural communications, informing community leaders on strategies and resources?
Free Trade/Fair Trade:
What is the role of NGOs, local governments and other community groups in assuring that cross-border trade benefits your community? Understand how international trade agreements work. Learn how to impact the process so that trade deals benefit low-wealth people.
Lessons from our Neighbors:
Learn how groups like yours in other countries have grappled with their issues in efforts to build wealth in low-income communities. Learn how models from various lands might be replicable in your community. Consider microlending models from developing areas and different cultures.
What's Next:
Given economic problems, political challenges and emerging trends in many nations, what economic development strategies would best serve low-income communities everywhere? How can we strengthen global forces to improve access to private capital? What recent and future changes in technology, international law, trade and other areas present opportunities or threaten access to credit and capital? How should we prepare for them?
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TRACK 1: ACCESS TO CREDIT AND CAPITAL
CRA 101:
Learn essentials of the Community Reinvestment Act (CRA): the reasons for its passage and an overview of how it works. Review the CRA exams that federal agencies apply to banks and thrifts, and learn the limits of the law and of current examination procedures.
Assessing Community Needs 101:
Learn how to obtain and do basic analysis of home mortgage and business loan data. See how to compare loans by individual banks to the composition and needs of the community.
Assessing Community Needs 202:
See how to use new and advanced data analysis to measure needs and banks' CRA performance. Learn about the Community Lending Partnerships Initiative and ways to help small communities and rural areas.
Getting the Most from CRA Exams:
Are federal regulators doing stringent exams, or has grade inflation made the exam process a breeze? Hear different perspectives from bankers, regulators and leaders of community groups. Discover how to impact the process.
Effective Banker-Community Collaboration:
Community development and lending in lower-income areas can be profitable, but it’s not always easy. Explore ways that partnerships between banks and nonprofits overcome barriers, become mutually beneficial and help revitalize traditionally under-served communities. Case study: CommunityExpress, a small business loan and technical assistance program.
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TRACK 2: BEYOND BANKS AND THRIFTS
Working with Brokers:
Examine the role of independent and bank-affiliated brokers: how they set up loans, obtain insurance needed for or ancillary to loans, and impact other financial services. What value do they add for consumers, communities? How can community advocates work with them most effectively?
Insurance in a Modern Financial World:
The 1999 Financial Modernization Act allowed insurers to merge with and acquire banks for the first time since the Depression. But CRA covers only banks and thrifts. Though insurers lend $ billions and influence availability of credit, federal law does not require them to serve all elements of their communities fairly, as CRA requires of banks. How are insurers meeting community needs? How can community advocates reach those that don't?
Non-CRA Regulated Lenders in a Changing Market:
Mortgage companies, consumer finance companies and credit unions are not subject to regulation under CRA. These institutions play major roles in many types of financial transactions--with less legal oversight. The roles of mortgage companies and finance companies are magnified by the existence of secondary markets for their products. Who are the major players? How do they rate on CRA-type measurements? As banks and thrifts cut subprime lending, what are non-CRA regulated lenders doing?
Payday Lending:
Payday loans are small loans of a few hundred dollars that consumers use to finance emergency needs. The consumer will write a post-dated check to the "payday" lender, which will not be cashed until the consumer’s next payday. Controversies have swirled around high fees and interest rates on payday loans as well as the involvement of banks and thrifts in this business. Can payday lending be conducted responsibly? If not, what alternatives exist? Hear a variety of perspectives and approaches to payday lending.
Reaching Wall Street:
In this era of "financial modernization," what is the role of investment banks and securities firms in providing credit and capital to our communities? How can we make sure that Wall Street is not investing in predatory loans or financing other activities that negatively impact communities? On the flip side, how can we develop partnerships with these institutions to leverage additional investments for affordable housing and community economic development?
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TRACK 3: ENSURING FAIR ACCESS
Hot Legislative/Regulatory Issues:
How can we ensure that Congress helps community leaders revitalize neighborhoods? In the first session of the 107th Congress, the Senate Banking Committee held hearings on predatory lending, and members of the House Financial Services Committee introduced CRA Modernization, anti-predatory and anti-payday lending measures. How will these bills fare in the 2d session of the 107th Congress this spring? On the regulatory front, will the gains in affordable housing and economic development of the 1990s be lost in this spring's review of CRA regulations?
Predatory Lending Litigation Strategies:
Aside from consumer education, how can you fight the predators that hurt both communities and the reputations of good lenders? Learn the latest and best strategies for bringing legal action against them.
Financial Education and Public Information Campaigns:
Public service announcements and media alerts warn would-be users of financial services about bad actors. Consumer financial education or "financial literacy" programs provide survival training. What works? Get an overview of the latest and the best.
Small Business Loans:
Learn about loan programs designed to help small business, how they are adapting to post-Sept. 11 conditions and the post-downturn economy, and how they are likely to change in the future. Explore the evolving role of the U.S. Small Business Administration.
Accessing & Correcting Credit Records:
Explore challenges associated with the use of credit in mortgage origination and related insurance markets. Experts will address consumer issues, including the accuracy of credit information and expanding access to homeownership. On-line credit counseling information will be offered through a concurrent exhibit.
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TRACK 4: BUILDING ORGANIZATIONAL STRENGTH & CAPACITY
Fundraising 101:
Learn the basics of effective fundraising strategies. See how to identify new and creative opportunities to help your organization meet its fundraising objectives.
Using Media & Technology:
Inform and engage your community through effective communications and technology strategies, including web sites, email, and databases. Learn how to reach decision makers, stakeholders, and the media on a limited budget. Discuss real life examples, case studies, and personal perspectives. Pick up tools and resources that you can begin to use today.
What Funders Like:
Hear what funding sources want and what makes them reject proposals. An accomplished fundraiser and an experienced grant-giver share their knowledge.
Organizing Communities and Alliances:
Learn how to organize the disenfranchised and discouraged into an effective force for advocacy and create organizations like PACs. See how to build alliances among environmental, religious and other groups. Discover how to find common ground and bring diverse groups together.
Self-sustaining Strategies:
It's a rough-and-tumble business world out there, and you want to help people? Get business savvy from creators of some of the most successful housing and community development projects in the country.
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Maryellen J. Lewis
MSU Community & Economic Development
1801 W. Main Street
Lansing, Michigan 48915-1097 USA