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In the News
Congressman Danny K. Davis Introduces National Infrastructure Bank Bill H.R.4052
On June 13, 2023, Congressman Danny Davis introduced the National Infrastructure Bank Bill H.R.4052 into the 118th Congress. The bill calls for a $5 trillion National Infrastructure Bank (NIB) to build all the Nation’s infrastructure. As noted on Congress.gov,...
Access to Capital in New Mexico is Tightening
by Angela Merkert, Executive Director, AFLEP — With the challenges in the financial system—banks closing, fintech gaining market space, interest rates rising—lending for small businesses is decreasing. One recent business article reported that the U.S. loan approval...
The Movement To Stop Dollar Stores From Suffocating Black Communities
By AALLYAH WRIGHT for Capital B News | MAY 17, 2023 — Some say the stores—disproportionately found in low-income, rural, and Black areas—stifle economic growth and job creation and exacerbate food insecurity. For years, the Rev. Donald Perryman wondered why the...
Revolving fund bills show gaps in NM financial capacity
by Angela Merkert, Executive Director, AFLEP — Whew! That 60 day session went by fast. Over 240 bills were passed of the more than 1000 filed. A number of those bills will support increased local economic prosperity. We are grateful for legislative support for...
What Silicon Valley Bank’s Collapse Says About Banking And Community
By Oscar Perry Abello for NextCity | MARCH 13, 2023 — Focusing on wealthy people and their startup investments is not a sign of good risk management at a bank. Banking has never been about avoiding risk. It’s about managing risk. For years, especially...
Will a public bank prove recession-proof for East Bay cities?
By KATIE LAUER for SiliconValley.com | February 26, 2023 — Financial lending would focus on affordable housing, small business, green energy and municipal finance Image above: Trader Michael Gallucci works at his post on the floor of the New York Stock Exchange,...
Local Governments’ Vital Role in Getting Small Businesses the Funding They Need
Opinion by Ilana Preuss for Governing.com | February 14, 2023 — Due to racial bias and other disparities, too often they aren’t “bankable” and struggle to obtain loans essential for their success. Some programs are leading the way in achieving more-equitable...
First New Black Bank In 20 Years Breaks The Mold For Raising Startup Capital
By Oscar Perry Abello for NextCity | February 14, 2023 Adelphi Bank in Columbus, which raised $20 million in startup capital, marks the country’s first new Black bank since 2003. Jordan Miller never thought it was in the cards for him to help start a new...
Life Link + Homewise Partnership Delivers More Than Financing
Partnership Delivers More Than Financing — The Life Link in Santa Fe rents and owns multiple buildings where it delivers a multitude of services. When management wanted to create synergy around some of those services by housing them under one roof, the nonprofit...
In 16 Years, the Fed Has Approved 4,506 Bank Mergers and Denied One
By Pam Martens and Russ Martens for Wall Street On Parade | January 19, 2023 On Tuesday, Jerome Powell’s Federal Reserve once again thumbed its nose at President Biden’s antitrust directive regarding the creation of more mega banks through merger. This time...
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Episode: Everyone deserves a public bank
“I had the good fortune to work on this initiative before Bernie kidnapped all my time. This is one of those no-brainer initiatives that only the 1% could oppose. It has the potential to save the state millions of dollars by vastly reducing the cost of its bonds to improve infrastructure funding. in a public bank, our state funds can be used to build our local economy and our local infrastructure.”
– Paul Gibson
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