Crowdfunding for Community Development Finance

March 24, 2014

Registration and  Breakfast

Welcoming Remarks

• Jeremy C. Stein, Governor, Board of Governors of the Federal Reserve System

Conversation with Industry Leaders

• John Hamilton, City First Enterprises
• Chance Barnett, Crowdfunder
• Hosted by Anna Alvarez-Boyd, Federal Reserve Board of Governors

The Existing Landscape: A Discussion of Current Crowdfunding Models

• Justin Conway, Calvert Foundation
• Jeannine Jacokes, Partners for the Common Good
• Ben Miller, Fundrise
• Ron Suber, Prosper
• Jase Wilson, Neighbor.ly
• Moderated by Claire Kramer, Federal Reserve Bank of New York

Facilitated conversation, part 1

• What types of crowdfunding are right for whom? 
  • What can we learn from existing models? 
  • What will be the real costs of crowdfunding capital? 
• Is there a need to create new platforms for CDFIs/mission-based organizations, or would it be better to work through existing platforms?

Facilitated conversation, part 2

• What are the regulatory issues for regulated institutions that set up platforms?
  • Are there fair lending considerations?  Disparate impact?
  • Could there be CRA implications for banks that invest in mission-oriented crowdfunding?
• What statistics and data are needed to better understand crowdfunding and its potential for community development finance?
• What technical assistance will community development corporations and CDFIs need to access crowdfunding?
• How can the existing tech infrastructure better accommodate or be accessible to community development?

Wrap-up, Closing