Development program. It helps underserved communities access loans and training initiatives. Live coverage here on cspan. Too often it is black and brown and indigenous families who have faced the most significant burdens, but the academic economic disparities didnt start in the pandemic. A typical black familys net worth was 15 of a typical white familys worth. A typical hispanic familys net worth was about 19 of a white familys. And the typical net worth for native American Families is also just a fraction of the typical white families. While there are many causes for this great inequity, one factor is a lack of access to capital and Financial Services for people of color, indigenous communities and in small towns and rural places. When the cdfi fund, the federal agency that oversees cdfi programs. When it was established in 1994 there were about 80 cdfis. And they played a Critical Role in bringing capital and Financial Services to a wide variety of underserved community, urban requ
Departments Community Development program. It helps underserved communities access loans and training initiatives. Live coverage here on cspan. Too often it is black and brown and indigenous families who have faced the most significant burdens, but the academic economic disparities didnt start in the pandemic. A typical black familys net worth was 15 of a typical white familys worth. A typical hispanic familys net worth was about 19 of a white familys. And the typical net worth for native American Families is also just a fraction of the typical white families. While there are many causes for this great inequity, one factor is a lack of access to capital and Financial Services for people of color, indigenous communities and in small towns and rural places. When the cdfi fund, the federal agency that oversees cdfi programs. When it was established in 1994 there were about 80 cdfis. And they played a Critical Role in bringing capital and Financial Services to a wide variety of underserved
Next, on cspan, a hearing about organizations that provide home loans in lowincome communities and the people who lack access to financing. The Senate Banking housing and urban Affairs Hearing was chaired by tina smith. Communities when it comes to accessing capital and the financial system. The covid19 pandemic has not been the great equalizer. It hasnt laid bare the disparities in our society that existed before the pandemic. Too often it is black, brown and indigenous families that faced the most significant burdens. The economic disparities did not start during the pandemic. According to the federal reserve, as of 2019, a typical black familys net worth was just 15 of a typical white familys network. A typical hispanic families net worth was about 19 of a white family. And the typical net worth for native American Families is also just a fraction of the typical white family. While there were many causes for this great iniquity, one factor is a lack of access to capital and Financia
The seventh hearing of the u. S. China economic and secure review commissions 2023 annual report cycle. I want to first thank staff, many of whom worked on several other hearings. And so, i appreciate the heroic effort that was involved in getting this hearing set up. So, thank you, jonathan and daniel, in particular, charles, i dont see. Many of us that have watched china for years appreciate that the magnitude of the economic challenges china must address now are not new rather, they have been worsening for years and were amplified by covid and the poor policy choices made during that time. Notwithstanding the ccps push for chinese households and non state businesses to drive recovery. Household consumption has been cautious. Government lending practices continue to favor unproductive state owned enterprises, higher performing non state sector at the expense of higher performing non state sectors. In most cities, property prices have plunged and Business Confidence has eroded as defl
The seventh hearing of the u. S. China economic and secure review commissions 2023 annual report cycle. I want to first thank staff, many of whom worked on several other hearings. And so, i appreciate the heroic effort that was involved in getting this hearing set up. So, thank you, jonathan and daniel, in particular, charles, i dont see. Many of us that have watched china for years appreciate that the magnitude of the economic challenges china must address now are not new rather, they have been worsening for years and were amplified by covid and the poor policy choices made during that time. Notwithstanding the ccps push for chinese households and non state businesses to drive recovery. Household consumption has been cautious. Government lending practices continue to favor unproductive state owned enterprises, higher performing non state sector at the expense of higher performing non state sectors. In most cities, property prices have plunged and Business Confidence has eroded as defl