SF Fed Convenes Key Conversations About Fintech Innovation’s Impact on Racial Equity

SAN FRANCISCO—The Federal Reserve Bank of San Francisco is partnering with the Aspen Institute to host “Fintech, Racial Equity, and an Inclusive Financial System,” a panel event and publication exploring the most pressing questions about how the push for racial equity intersects with financial technology. The event will take place on August 25, 2021. Registration is free.

The event marks the publication of the latest edition of Community Development Innovation Review (CDIR), a research journal targeting the foundational economic health of U.S. communities that do not experience full equity in the current financial system.

At the virtual event, SF Fed President Mary C. Daly will offer her insights about the current barriers to access to financial services, in a conversation with Ida Rademacher, executive director of the Aspen Institute Financial Security Program. Following that, a panel discussion will explore the conditions needed to advance an inclusive financial system, including the role of capital and risk assessment in fostering inclusive innovation, designing with and for diverse fintech users, and protecting users from potential risks.

The latest CDIR issue explores a range of key issues, including 14 insightful essays by 22 authors from across the nonprofit and public sectors, private sector, and Federal Reserve System. Mindful that authentic dialogue is a key pillar of effective policy, the SF Fed is grateful to convene thought leadership pieces across the following topics:

  • Racialized roots of financial exclusion
  • Role of new and existing financial regulations in fostering racial equity
  • Conditions needed to advance an inclusive financial system
  • The potential benefits of mission-driven fintechs
  • New approaches for assessing risk

The Federal Reserve Bank of San Francisco (SF Fed) works to advance the nation’s monetary, financial, and payment systems to build a stronger economy for all Americans. As part of the U.S. central bank, the SF Fed serves the Twelfth Federal Reserve District, which covers the nine western states—Alaska, Arizona, California, Hawai’i, Idaho, Nevada, Oregon, Utah, and Washington—plus American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands. By pursuing our two key goals of maximum employment and price stability—known as the Fed’s dual mandate—we work toward supporting an economy that works for everyone.