[7] During his tenure, the Office of the Comptroller of the Currency took the lead in regulators’ 1993 initiatives to alleviate a lingering credit crunch by encouraging banks to increase lending.

[9] Ludwig led President Clinton's initiatives to reform the Community Reinvestment Act and more vigorously enforce the fair lending laws.

[10] In December 1993, Ludwig was singled out by then-Secretary of the Treasury Robert Rubin, who praised “his efforts to make CRA reform a reality.

Promontory Interfinancial Network, a separate company that Ludwig started in 2003 with former Federal Reserve Vice Chairman Alan Blinder, was sold in 2019 to Blackstone Group.

The book examines how traditional economic measures like the unemployment rate and GDP are masking a crisis for millions of lower- and middle-income families, who struggle to afford health care, housing, and education and occupy jobs that cannot help them reverse the downward slide.

He has noted that real-wage stagnation and increases in the costs of education, housing, health care and food, have created a situation where middle-income households were spending 78% of their budgets on basic needs in 2014.

[25] In 2008, Ludwig co-authored an essay in The Wall Street Journal with former Federal Reserve Chairman Paul A. Volcker and former U.S. Treasury Secretary Nicholas F. Brady calling for a resurrection of the Resolution Trust Corporation to help deal with the financial crisis.