Jesse Van Tol, chief executive of the fair lending group National Community Reinvestment Coalition, said the disparities show that banks failed to live up to a 44-year-old federal law that requires them to equitably serve all communities where they do business.
According to the study, “HOLC “Redlining” Maps: the persistent structure of segregation and economic inequality” conducted by the National Community Reinvestment Coalition (NCRC), 74 percent of the neighborhoods that were marked hazardous “eight decades ago are low-to-moderate income (LMI) today.”
Blackstone Group Inc. is buying 66 multifamily properties in the San Diego area for more than $1 billion and plans to invest some $100 million to improve the properties, whose apartments currently provide low-cost housing to thousands of people.
The Wall Street Journal: Blackstone Swoops Into San Diego to Buy Low-Cost Housing Read More »
Turkey Leg Hut has become much more than the long lines that have come to define the restaurant. Its rapid success has also made it a lightning rod for racially tinged conflicts over gentrification.
Some of the largest U.S. banks plan to start sharing data on customers’ deposit accounts as part of a government-backed initiative to extend credit to people who have traditionally lacked opportunities to borrow.
I’ve been locked out of the vast invisible system that determines creditworthiness — all because I have a twin
The Verge: Credit Agencies Can’t Tell My Sister and Me Apart Read More »
Thanks to Afterpay and Klarna, it’s easier than ever to buy in installments. Now, the model is coming for necessities.
Vox: Buy now, pay later changed retail. Health care and rent are next. Read More »
NCRC Chief Executive Jesse Van Tol said PNC recognized that $88 billion was the “right response” to the pandemic’s impact on communities.
American Banker: Behind PNC’s $88 billion commitment to invest in communities Read More »
At least 20,000 Black people were pushed out of the city between 2000 – 2013, according to the National Community Reinvestment Coalition.
Street Sense Media: Council advances Comprehensive Plan amid concerns of racial inequity Read More »
PNC’s Community Benefits Plan was developed by PNC, in consultation with BBVA USA, and was informed by numerous community listening sessions that PNC held with the National Community Reinvestment Coalition (NCRC) that included representatives from more than 150 NCRC member organizations from across the combined PNC and BBVA USA footprint.
PR Newswire: PNC Announces $88 Billion Community Benefits Plan Read More »
With over half of American adults now at least partially vaccinated, many of us are beginning to imagine a future beyond the pandemic. But for the many small businesses that didn’t survive, there’s no “after.”
The Good Man Project: Rebuilding Black-Owned Businesses After COVID-19 Read More »
According to a National Community Reinvestment Coalition study, Pittsburgh was the eighth most gentrified city in the U.S. in 2019, with neighborhoods like Downtown, Lawrenceville, and the Mexican War Streets seeing the sharpest levels of gentrification.
A 2019 report by the National Community Reinvestment Coalition identified Washington as the nation’s most intensely gentrified city between the years 2000 and 2013, finding at least 20,000 Black residents had been displaced.
The HOLC created “residential security” maps according to investment risk, often redlining Black neighborhoods as “hazardous” areas. According to advocacy group National Community Reinvestment Coalition, 74% of the neighborhoods that the HOLC designated as high risk or “hazardous” are low-to-moderate income neighborhoods today, and 64% are minority neighborhoods.
24/7 Wall St: The Most Segregated Cities in America Read More »
A recent report from the National Community Reinvestment Coalition has called for a goal of 60% Black homeownership by 2040.
