Owning a home is one of the main drivers of intergenerational wealth in the U.S. The NCRC (National Community Reinvestment Coalition) works to end discrimination in lending, housing and business by increasing the flow of private capital into traditionally underserved communities.
Other studies that have tracked resident mobility on broader terms — such as the one on Washington, D.C., that the National Community Reinvestment Coalition conducted — found that the city, now identified as the most gentrified in America, lost more than 20,000 of its African American residents during the city’s gentrification (from 2000 to 2013).
“Instead of creating more consistency and transparency in CRA exams, the OCC’s final rule will decrease retail lending, investing, and bank services in underserved communities,” said the National Community Reinvestment Coalition (NCRC) after an initial analysis of the proposal.
Affordable Housing Finance: Agencies Signal New Joint Effort on CRA Read More »
And in another endorsement, the nonprofit National Community Reinvestment Coalition lauded Landis’ offering as a way to close a stubborn racial gap in homeownership and wealth.
The National Community Reinvestment Coalition had sued the OCC over the new CRA rules and said in a statement that the decision by the bank regulators to work together on CRA was “a huge victory for NCRC and all our members and allies who challenged the 2020 rules, submitted comments and helped spread the word in the middle of a historic pandemic.”
Banker and Tradesman: OCC Drops Trump-Era CRA Reform Read More »
Since the COVID pandemic, issues of economic inequality in the U.S. have received increasing attention in the media, along with our current national debates on race and systemic racism. Here to talk about those issues and how we can build a more just economy for all is Mr. Dedrick Asante-Muhammed of the National Community Reinvestment Coalition.
Jesse Van Tol, the chief executive of the National Community Reinvestment Coalition, a nonprofit group that pressures banks to increase their activities in poorer neighborhoods, said he was pleased that the agency was “finally turning the page on this terrible rule.”
I don’t think that businesses have the luxury to think of themselves as disassociated from the communities that we live in, from the economies that we’re a part of.
“Somehow things are to the point where even though there’s that huge demand for relatively low-cost housing, the units aren’t getting produced.”
The housing rebound has been fueled by buyers whose wealth allowed them to win bidding wars often with a high down payment and a bid over asking price.
The New York Times: Here’s Who Will Be Left Behind in the Housing Boom Read More »
As central banks dabble with digital currencies, commercial lenders are ramping up efforts to influence policy and technical plans, according to more than half a dozen industry executives and public filings.
Reuters: Analysis: Digital Rivals? Central Bank E-Cash Plans Prompt Lenders to Wade in Read More »
The big issues are technology, ultra-low rates, capital, and changing demographics.
Thread Reader: Lots of Happenings in Residential Real Estate Read More »
In Alabama, Arkansas and Georgia, at least 1 in 4 tenants was behind on rent as of June 7.
Following President Joe Biden’s June 23 ouster of Mark Calabria, speculation has intensified about the administration’s pick to run the Federal Housing Finance Agency and therefore chart a new path for the mortgage giants Fannie Mae and Freddie Mac.
American Banker: 7 Candidates to Lead Fannie and Freddie’s Regulator Read More »
A report from the National Community Reinvestment Coalition shows that 13,000 bank branches closed in the U.S. between 2008 and 2020 — or 14% of all branches.
Sun Herald: Hancock Whitney is Closing Multiple Bank Branches Across South Mississippi Read More »
