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2014 Hellman Fellow

Carolina Reid

Informing federal policy on bank lending practices (UCB)

Carolina Reid is an Associate Professor in the Department of City and Regional Planning and the Faculty Research Advisor for the Terner Center for Housing Innovation at UC Berkeley. She specializes in housing and community development, with a focus on access to credit, homeownership, and wealth inequality.

Her 2014 Hellman Fellowship supported an ambitious research project to understand how banks have invested in California communities under the Community Reinvestment Act (CRA), a critical law passed in 1977 to combat redlining. She presented her findings at the Federal Reserve Bank of Philadelphia outlining the flaws of a 2019 proposed rule to undermine the CRA and weaken incentives for banks to lend and invest in low-income neighborhoods. Her research not only set a precedent for the value of performance evaluation data to inform rule-making, it informed the Federal Reserve’s own data collection effort, and their 2020 proposal to strengthen rather than weaken the CRA.

My Hellman Fellows award was not only an early vote of confidence in my research (something I will be forever grateful for), but it also put me in a position to influence federal policy on community reinvestment.

– Carolina Reid, Ph.D.

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