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Economic Democracy Weekly

In today’s Economic Democracy Weekly, we look at the many intersections between community finance and economic justice. First, in our latest Truth to Power column, Oscar Perry Abello, author of The Banks We Deserve, talks about how banking became separated from local communities—and how to remedy that. We follow that with an excerpt from his book that documents how big banks’ rise occurred and how that impacts communities today. Next, Chrystel Cornelius of Oweesta, a Native CDFI intermediary, writes about how Native communities are standing up and mobilizing to protect their community financial institutions. Finally, we close with an article on the nuances of community finance—and why lending terms matter at least as much as the distribution of capital.


Banking and Community: A Conversation with Oscar Perry Abello

 
“The banking system can support that work better if it’s more local, more locally owned, and more locally controlled.” Read more... 
 
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Why Communities Must Reclaim the Power of Banking

 
“In 1984, there were 15,767 community banks, representing 39 percent of banking assets…[today they’re] just 11.31 percent.” Read more... 
 
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Standing Strong: Native CDFIs Mobilize to Protect Economic Sovereignty

 
“At the heart of Native CDFI work is a ‘relationship model of lending,’ centered on redefining lending criteria to meet the needs of Native communities.” Read more…
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Planning for Success: Why Asset Transfers to Communities Matter

 
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