NewDEAL Leader Columbia, SC Mayor Steve Benjamin joined a co-author from the Aspen Institute Financial Security Program for a column in Governing on how local government can help residents address consumer debt, a source of major financial instability and negative consequences for local economies. Read about three areas of opportunity for local government to act, including solutions on which local leaders, including NewDEAL Leaders, are working.
New opportunity zone regulations rolled out by the U.S. Department of Treasury last week seek to help get capital flowing to distressed areas by aiming to clarify some significant issues that had given investors pause. It is hoped that the new regulations will help ensure that capital flows to "operating businesses" that generate new jobs and local wealth. Learn more from Route Fifty's coverage of the new regulations and check out our profile of one NewDEAL Leader, Birmingham Mayor Randall Woodfin's work on this issue from last week.
NewDEAL Leader St. Louis Treasurer Tishaura Jones is working to encourage banks to improve the services they offer in low- to middle-income neighborhoods and create more equity in banking opportunities. Treasurer Jones has expanded the questions the city asks of banks that seek to receive city deposits, such as by looking for detailed data on programs for the unbanked and on issues like home loan denials for African-American residents. Read more about her work in the St. Louis Post-Dispatch, or check out her interview on the subject with local public radio.