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According to Federal Deposit Insurance Corporation (FDIC) data, more than 250,000 households in the Twin Cities, including approximately one-half of all black and Latino households, either do not have a bank account or use costly services such as check-cashing and payday loans.
Some financial institutions are discovering new markets as they begin to provide needed products and services to previously underserved populations.
Chris Farrell, host of Minnesota Public Radio’s Conversations on the Creative Economy, will discuss how organizations and financial institutions create products and services for markets traditionally not considered. Farrell and panelists will explore questions such as: Can financial institutions do good business while doing good? If some banks have figured out how to serve the unbanked, why haven’t all? What factors affect the ability of individuals to create wealth for themselves and improve the economic vitality of their communities?
Featured guests include:
Dorothy Bridges, Senior Vice President of the Federal Reserve Bank of Minneapolis
Anne Leland Clark, Financial Capability Director from Prepare and Prosper
Tawanna Black, Executive Director of the Northside Funders Group