Wednesday, December 9, 2020

8:55 AM – 9:03 AM, EST
Masters of Ceremony Welcome Guests to Summit
Welcome Remarks:
Dina Harris, Founder & CEO, National Faith
Marcos Morales, Executive Director, Hogar Hispano

2020 National Virtual Black & Latino Economic Summit Hosts Marcos Morales and Dina Harris welcome the audience and give an introduction into the National Minority Community Reinvestment Co-Operative (NMCRC) and why it launched the Black & Latino Economic Summit and the importance of Black & Latino communities working together economically.

9:03 AM – 9:20 AM, EST
Inspiring and Building Better Lives and Communities
Presented By:
Truist Bank
Speaker:
Kelly S. King, Chairman & CEO, Truist Bank
Moderated By:
Antoine Thompson, National Executive Director, NAREB

Truist Chairman and CEO Kelly S. King addresses the current context and challenges our country faces, how Truist is working to address those issues, and how we can come together and overcome these obstacles and respond in a positive way.

9:20 AM – 10:30 AM, EST

The Facts about Black & Brown Communities and Why Current Funding Models Cannot End Systemic Racism

Speakers:
Horacio “Fred” Mendez, President & CEO, Woodstock Institute
Dr. Andre M. Perry, Author, Teacher, Brookings Institute Fellow
Moderated By:
Glorious Johnson, Chairwoman, National Congress of Black Women (Jacksonville)

Black and Brown communities are not monolithic racial groups, and they certainly fit along a wide political spectrum in terms of party affiliation and philosophy. Representing more than a quarter of the population, Black people and Latinos have specific political wants and needs that match our diversity. Nevertheless, Black and Brown people and neighborhoods both have physical and non-physical assets – businesses, homes, leadership, etc. – that are worthy of investment, but because of racism, those possessions are not getting the resources they need. Consequently, we share a common fate. This session will highlight our shared struggle and offer solutions that add value to people and places to counter the wealth extraction caused by racism.

10:30 AM – 12:00 PM, EST (Dual Sessions)
Session One
Racial Wealth Gap and Impact on Black & Latino Communities
Speakers:
Chuck Collins, Director, Program on Inequality and the Common Good at the Institute for Policy Studies
Omar Ocampo, Researcher, Program on Inequality and the Common Good at the Institute for Policy Studies
Moderated By:
Kelvin Perry, President, The Black Chamber of Commerce of Greater Kansas City

Chuck Collins & Omar Ocampo provide data on the Racial Wealth Gap and its impact on inequality in the U.S.

Session Two
A Latino Economic Agenda: A Latino Perspective on U.S. Domestic Economic Policy
Presented By:
NALCAB (National Association for Latino Community Asset Builders)

In crafting an emergency economic response to the COVID-19 crisis and longer-term recovery, it is imperative to look beyond top line numbers and averages to consider the differing impact of this crisis on diverse populations. The mechanisms and institutions that can effectively deliver emergency financial relief and patient capital for recovery in some communities are different from those that can effectively meet the needs of others. A responsible approach to addressing this crisis will include deploying capital and other resources through a wide range of institutions and networks that reflect the diversity of our economy and our nation’s communities. We must also aggressively hold profiteers and predatory market actors accountable, as well as major institutions that rely on public support, but fail to play their appropriate role in a long-term recover. NALCAB experts will provide an overview of the current economic state of Latino communities and policy perspectives and recommendation to address the massive economic losses to Latino communities from Covid-19.

12:00 PM – 1:00 PM, EST
Virtual Luncheon
Speaker:
Brian Lamb, Global Head of Diversity & Inclusion, JP Morgan Chase & Co
Moderated By:
Reginald Clyne, Civil Rights Attorney & Partner, Quintairos Prieto Wood & Boyer

JPMorgan Chase announced new long-term commitments to advance racial equity. The firm will harness its expertise in business, policy and philanthropy and commit an additional $30 billion over the next five years to provide economic opportunity to underserved communities, especially the Black and Latinx communities. Mr. Brian Lamb will discuss how these commitments will promote and expand affordable housing and homeownership for underserved communities, grow Black and Latinx-owned businesses, improve financial health and access to banking in Black and Latinx communities, and accelerate investment in our employees and build a more diverse and inclusive workforce.

1:00 PM – 1:05 PM, EST
Community and Country Awards
Moderated By:
Marcos Morales, Executive Director, Hogar Hispano
Dina Harris, Founder & CEO, National Faith
Anna Alvarez Boyd, Senior Associate Director, Federal Reserve Board

1:05 PM – 1:30 PM, EST
Increasing Home Ownership
Presented By:
Truist Bank
Speaker:
Anthony Weekly, Head of Mortgage Strategic Growth, Truist Bank
Moderated By:
Antoine Thompson, National Executive Director, NAREB

Antoine Thompson provides a short presentation on the lack of Black Home Ownership in the United States and solutions to increase home ownership.

1:30 PM – 2:45 PM, EST
Access to Capital for Black and Latino Businesses & Nonprofits
$600 Billion Main Street Loan Program

Presented By:
The Federal Reserve Board
Moderated By:
Kris Siglin, VP Policy & Partnerships, National Community Stabilization Trust

A representative of the Federal Reserve Board will overview the $600 billion-dollar Main Street Loan Program unveiled to counter the Pandemics major negative impact on the U.S. economy. The speaker will provide details on how Black & Latino small businesses and nonprofits can access low cost patient (5 year) capital from key banks that will allow them to rebuild/build up their businesses, to include affordable housing. A list of specific bank contacts that can be contact to access a Main Street Loan will be provided during this session.

2:45 PM – 4:00 PM, EST
Access to Capital for Black & Latino Businesses
Impact and Implementation of Section 1071 of Dodd Frank Act

Speaker:
Paulina Gonzales, Executive Director, California Reinvestment Coalition
Moderated By:
Al Pina, Chair, Florida Minority Community Reinvestment Coalition

In this session, Ms. Paulina Gonzales-Brito, Executive Director of CRC will outline the components of Section 1071, and how Black & Latino communities in every city in the United States can access this minority small business loan data (by bank) and publish this data locally so our communities can determine which banks are lending and NOT lending to Black & Latino small businesses.

4:00 PM – 5:15 PM, EST
Modernization of the Community Reinvestment Act of 1975
Maximizing the Economic Impact on Black & Latino Communities, Small Businesses, and Families

Speakers:
Marcos Morales, Executive Director, Hogar Hispano
Dina Harris, Founder & CEO, National Faith
Wesley Alexander, CEO, CoBiz Richmond
Watchen Bruce, President & CEO, Baltimore Community Lending
Kathy Christian, Executive Director, Midway Community Development Corporation
Andre Purnell, President & CEO, Triax
Kelvin Perry, President, The Black Chamber of Commerce of Greater Kansas City
Moderated By:
Orson Aguilar, Principal of Policy and Advocacy, UnidosUS

The Community Reinvestment Act (CRA) of 1975 is now being modernized by the Federal Reserve Board. Panelists in this session will discuss what new rules are needed to ensure that Black & Latino communities are being provided access to capital and investments by financial institutions. The audience will be able to engage the panelists in a lively Q&A session. This session will be recorded and will be sent to the Federal Reserve Board to be counted as “comments” toward the new CRA rules being determined over the next 3 months.

5:15 PM to 6:30 PM, EST
How to Leverage CRA and Make Equitable Working Capital Available  to Minority Small Business, Home buyers and Affordable for Sale Housing Providers in California
Speakers:
Robert J. Apodaca, Co-Founder, Casita Coalition, California Community Builders, & The Two Hundred
Enrique Velez, President, Brino Builders
Jim Etherington, CEO & Founder, Veterans Affordable Home Ownership Program (VAHOP)
Wesley Alexander, CEO, CoBiz Richmond

Moderator
Joe Serrano, CEO and Executive Director of TentMakers Inc

Institutionalized racial prejudice that was and is still prevalent in making capital investments in “redlined” areas of communities of color have created visual distortions in the harmony of wealth distribution nationwide. This distortion is the poverty that comes not only from the lack of education, job training and employable skill sets of its workforce, but also the lack of investment in these communities, has further weakened it. Communities of color congregate in certain geographic areas in the North Bay Area where the City of Richmond is located.

Based on the 2019 Census, Richmond has a high percentage of minority populations with high inclusionary households of more than two races. Approximately 52% of the population in Richmond own their own homes compared to outlining areas like Walnut Creek and Orinda that realize in the 90% and higher home ownership rates.

Focus is on Richmond because of the relevance of the panel’s background and experience but, the content of our topic is also relevant as a model for other similar demographic locations throughout the State.

The purpose is to work with the City’s regional banking partners and local municipal jurisdictions to leverage CRA with HCD housing production goals and housing production and finance strategies. The only difference is that the names have changed.

By combining mutual synergy and focus on the production opportunities that these poverty pockets provide, public – private partnerships can be made that satisfy the conditions of CRA and HCD respectively.

Lastly, the mechanism that makes it all work are the minority small business, home buyer and affordable housing providers.
These minority enterprises are an emerging opportunity resulting from the strong work ethic of minority workers, only lacking in a higher wealth building position, to gain wealth.

This is where the economy in areas like Richmond CA will begin to revision, reshape and rebuild.

Thursday, December 10, 2020

8:55 AM – 9:00 AM, EST
Masters of Ceremony Welcome Guests to Summit
Welcome Remarks:
Dina Harris, Founder & CEO, National Faith
Marcos Morales, Executive Director, Hogar Hispano

2020 National Virtual Black & Latino Economic Summit Master/Mistress of Ceremony Hosts Marcos Morales and Dina Harris welcome the audience and give an introduction into the National Minority Community Reinvestment Co-Operative (NMCRC) and why it launched the Black & Latino Economic Summit and the importance of Black & Latino communities working together economically.

9:00 AM – 9:30 AM, EST
Speakers:
John M. Turner, CEO, Regions Bank
Leroy Abrahams, EVP Head of Community Affairs, President of the Regions Foundation

Leroy Abrahams interviews Regions Bank CEO John Turner on the commitment of Regions Financial Corporation (Regions Bank) towards Black & Latino communities, small businesses and families. This discussion will outline economic programs and initiatives that Black & Latino communities can engage Regions Bank on.

9:30 AM – 10:30 AM, EST
Truist Bank Commitment to the Community: Fulfilling our Purpose through increased capital for small businesses and homeownership resources
Presented By:
Truist Bank
Speakers:
John Knott, Head of Corporate Strategy, Truist Bank
Lauren Butler, Community Development Fund Relationship Manager, Truist Bank
Lauren Butler, Head of Corporate Strategy, Truist Bank
Anthony Weekly, Head of Mortgage Strategic Growth, Truist Bank

10:30 AM – 12:00 PM, EST (Dual Sessions)
Session One

The Facts about Black & Brown Communities and Why Current Funding Models Cannot End Systemic Racism

Presented By:
Woodstock Institute
Speakers:
Horacio “Fred” Mendez, President & CEO, Woodstock Institute
Michelle Morales, President, Woods Fund Chicago
Mambu Sherman, Global Philanthropy, JP Morgan Chase & Co.
Lenny Mendonca, Former Economic Advisor to CA Gov. Newsom, McKinsey / McKinsey Global Institute, Bay Area Council Economic Institute, Public Policy Institute of CA.
Moderated By:
Scott Syphax, Syphax Strategic Solutions, Executive Producer and Host of PBS’s “Studio Sacramento”

“You’ll always get what you’ve always gotten if you only do what you’ve always done.” Decades of well-intentioned programs, policies and investments have not moved the needle on the struggles of Black and Brown communities. The time for creative destruction has come, but what to do, where to focus, and how to fund it? That’s where research is critical. But the intersection of research, policy change and advocacy poses a challenge to the existing funding infrastructure. Short-term, service delivery-focused grants and investments, while important, work against identifying and addressing the root causes that require those services in the first place, creating an expensive and unproductive cycle that has limited measurable and sustainable progress. This session is a call to action for financial institutions, foundations and research institutes to build a new model that informs systems and policy change, embraces trial and error, and eliminates artificial time constraints on solving society’s greatest challenge- racial equity.

Session Two
PNC Commits More Than $1 Billion To Help End Systemic Racism & Support Economic Empowerment Of African Americans And Low- And Moderate-Income Communities
Presented By:
PNC Bank
Moderated By:
Richard Bynum, Chief Corporate Responsibility Officer, PNC Bank

Please join Richard Bynum, PNC’s Chief Corporate Responsibility Officer, as he shares his thoughts and vision on PNC’s commitment.

PNC’s Opportunity Fund & Community Development Banking’s Lending And Investing Solutions
Moderated By:
Kevin Rogers, SrVP Community Development Lending & Investment Manager

Please Join Kevin Rogers, PNC’s Community Development Lending And Investing Manager, As He Walks Through How This Creative Capital Tool Benefits Community Projects and other PNC Lending and Investing Solutions.

12:00 PM – 1:00 PM, EST
Builder of Community & Country Awards: For Their Legal Efforts to Enforce Section 1071
Banks Must Report and Publish Small Business Loans by Race of the Dodd Frank Act

Presented By:
The California Reinvestment Coalition
National Association for Latino Community Asset Builders (NALCAB)
Virtual Luncheon
Welcome Remarks:
Dina Harris, Founder & CEO, National Faith
Marcos Morales, Executive Director, Hogar Hispano
Speaker:
Federal Reserve Board Speaker To Be Determined

1:00 PM – 2:20 PM, EST (Dual Sessions)
Session One
Building a Dialogue for Improved Capital Opportunities
Presented By:
Regions Bank
Speakers:
Leroy Abrahams, EVP – Head of Community Affairs, President, of the Regions Foundation
Doug Jackson-Executive VP-Chief Compliance Offices

Our panel will consist of 3 nonprofit organizations that we partner with and we will discuss access to capital. We want to hear about their experience, the importance of understanding what is needed from a financial institution, building a relationship with a banker and how financial institutions can be more impactful.

Session Two
Accelerating Community Impact During COVID-19
Presented By:
Wells Fargo Bank
Moderated By:
Vince Toye, Executive VP and Group Head Community Lending & Investment
Speakers:
Monica Mitchell, Vice President of Social Impact and Sustainability, Wells Fargo & Company
Hugh Rowden, Senior Vice President, Engagement Initiatives & Mortgage Outreach, Community Relations, Wells Fargo & Company
Tim Rios, Senior Vice President Community, Relations Senior Manager Wells Fargo & Company

The global pandemic is widening racial disparities across homeownership, small business and many other facets of community life. But it is also a wake-up call that is motivating action. Wells Fargo panelists will discuss the company’s strategy of accelerating financial capital and expertise during COVID-19, new forms of investment and why collaboration with customers and community organizations is a faster path to economic recovery. Experts will share lessons learned from the pandemic and how they identified ways to scale impact in diverse communities across housing, small business and community development.

2:25 PM – 3:30 PM, EST
Creating A Master Community Development Plan for Black & Latino Neighborhoods-Targeting Increased Jobs & Affordable Housing
Presented By:
Upton Planning Committee

Master Community Development Plans are a critical blueprint necessary to attract and increased capital investment into low income Black & Latino communities and neighborhoods. The Upton Planning Committee “Master Community Development Plan” for Upton Neighborhood in Baltimore is considered a “best practice” master plan. Leaders of the Upton Planning Committee will review the process in the development of their community master development plan and review the actual final Upton Master Community Development Plan that will enable other communities to replicate.

5:00 PM – 6:15 PM, EST
What’s Next? Post Summit Solutions
Moderated By:
Dina Harris, Founder & CEO, National Faith
Marcos Morales, Executive Director, Hogar Hispano