The grassroots movement that resulted in the creation of CDFIs as we know them today has a deep history. In today’s episode we explore that history with one of the luminaries of the industry, Cliff Rosenthal. Cliff was there when it all started, and he shares his insights and anecdotes as he takes us through the movement’s history and discusses his new book, Democratizing Finance.
Cliff Rosenthal is a nationally recognized leader and innovator in bringing financial services to low-income communities and consumers through credit unions. During a career spanning more than 30 years as CEO of the National Federation of Community Development Credit Unions, he authored the first concept paper for the establishment of the CDFI Fund of the U.S. Treasury Department. Cliff left the National Federation in 2012 to launch the Office of Financial Empowerment in the newly created Consumer Financial Protection Bureau. From 2014 to 2018, he was a Visiting Scholar at the Milano School of International Affairs, Management, and Urban Policy of The New School in New York City. His book, Democratizing Finance: Origins of the Community Development Financial Institutions Movement was published in November 2018.
Resources Related to This Episode:
Inclusiv (formerly known as the National Federation of Community Development Credit Unions): www.inclusiv.org
CDFI Fund: www.cdfifund.gov
Link to Cliff’s Book: Democratizing Finance on Amazon
Link to Cliff’s Other Book: Five Sisters: Women Against the Tsar on Amazon
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