How can we shore up our financial system to be more inclusive? What role can the Federal Reserve play in facilitating access to credit?
In the wake of COVID-19, the strength of our economy will largely depend on the economic recovery of our small businesses. But the uneven distribution of pandemic relief has highlighted the limitations of our current financial system to equitably deploy resources at scale.
In an effort to increase access to small business credit for underserved communities, including low-income communities and communities of color, the San Francisco Fed is initiating an ongoing effort to dive deeper into the problem, identify possible solutions, and explore the potential options for action.
Watch the October 14 kick-off event:
Welcome and Introduction
- Mary C. Daly, President and CEO, Federal Reserve Bank of San Francisco
- Laura Choi, Senior Vice President, Public Engagement, Federal Reserve Bank of San Francisco
Learning from Small Business Borrowers
- Silvia Castro, Executive Director, Suazo Business Center
- Chris James, President/CEO, National Center for American Indian Enterprise Development
- Bulbul Gupta, CEO, Pacific Community Ventures
- Cecil Plummer, President, Western Regional Minority Supplier Development Council
- Kai Ryssdal, Host, NPR’s Marketplace (moderator)
Keynote Presentation
- Sheila Bair, Former Chair, Federal Deposit Insurance Corporation
Understanding the Research on Equitable Access to Small Business Credit
- Robert Fairlie, Professor of Economics, University of California, Santa Cruz
- Ammanuel Zegeye, Partner, McKinsey & Co
- Laura Tyson, Distinguished Professor, University of California, Berkeley (moderator)
Perspectives from Small Business Lenders
- Sonja Wells, Chief Lending Officer, City First Bank
- Pearl Wicks, EVP and COO, HOPE Enterprise Corp
- Doug Bland, Head of Global Credit, PayPal
- Kitty Chen, Head of Retail and Business Banking, East West Bank
- Sean Creehan, Fintech Policy Advisor, Federal Reserve Bank of San Francisco (moderator)
Closing Reflection
- Mary C. Daly, President and CEO, Federal Reserve Bank of San Francisco