The Greenlining Institute endorsed a letter spearheaded by the Fed Up! Campaign calling for changes in how Federal Reserve Bank Presidents are chosen. In 2017, Raphael Bostic was named President of the Atlanta Fed, the first African American to serve at that level, and there has never been a Latinx Federal Reserve Regional Bank President. The makeup of Fed appointees is heavily skewed towards the financial industry, with nearly 80 percent of Directors coming from the business or banking sectors.
The Greenlining Institute joined with The Center for Popular Democracy’s Fed Up Coalition, Action NC, California Reinvestment Coalition, National Association for Latino Community Asset Builders, New York Communities for Change, PolicyLink and the Revolving Door Project to demand more transparency and meaningful public input in the critical process of selecting new leadership at the Fed and its Regional Banks.
Read The Letter