Americans older than 60 are the fastest-growing group of college loan debtors — the vast majority of them borrowing for others — a consumer agency says.
The New York Times: Retired, or Hoping to Be, and Saddled with Student Loans Read More »
Since the Great Recession, the gap between the Black and White homeownership rates in the United States has increased to its highest level in 50 years, from 28.1 percentage points in 2010 to 30.1 percentage points in 2017.
Urban Wire: Breaking Down the Black-White Homeownership Gap Read More »
Economic plans like Mike Bloomberg’s assume that boosting Black homeownership and entrepreneurs will close racial wealth gaps. New research suggests it won’t.
City Lab: Why Black Businesses and Homeownership Won’t Close the Wealth Gap Read More »
On March 3, the Supreme Court will hear Seila Law v. CFPB, which asks whether the president is allowed to fire the head of the Consumer Financial Protection Bureau (CFPB) at will. That question may seem minor and esoteric, but the stakes underlying Seila Law are enormous.
“The proposal is so fundamentally flawed it really needs a rethink,” said Jesse Van Tol, chief executive of the National Community Reinvestment Coalition, an advocacy group.
Picture this: under the proposed regulations, a bank that invests in upgrading an athletic stadium located in a low- and moderate-income census tract, as long as it is in one of the Trump Administration’s “opportunity zones,” will get CRA credit.
It’s getting harder to be considered wealthy in the District of Columbia. In 2019, the percentage of D.C. residents reporting at least $100,001 in personal income hit an all-time high.
“When local branches close, those relationships are lost, resulting in the loss of credit that local businesses need to thrive,” said Jason Richardson, Director of Research and Evaluation at the National Community Reinvestment Coalition.
The Financial Branch: 5 Reasons to Think Twice Before Closing Branches Read More »
“We all agree there needed to be a list. The problem is what the (Office of the Comptroller of the Currency) has put on that list,” said Jesse Van Tol, CEO of the National Community Reinvestment Coalition, an umbrella group for dozens of community groups trying to get banks to do more work in low-income neighborhoods.
Associated Press: Crucial Bank Law Softened Under Trump Proposal Read More »
Boyle Heights has indeed been experiencing rapid gentrification, which some attribute to the influx of upwardly mobile Latinx artists and professionals, including some who grew up there.
The Atlantic: Gentefied: The Netflix Show That Makes Gentrification Personal Read More »
The traditional stepping stones to the chief executive position are jobs responsible for the bottom line—such as head of division—and those roles are still overwhelmingly filled by men.
The Wall Street Journal; Where Are All the Women CEOs? Read More »
When Elon Musk secured $1.3 billion from Nevada in 2014 to open a gigantic battery plant, Jeff Bezos noticed. In meetings, the Amazon.com Inc. chief expressed envy for how Musk had pitted five Western states against one another in a bidding war for thousands of manufacturing jobs; he wondered why Amazon was okay with accepting comparatively trifling incentives.
Bloomberg: Behind Amazon’s HQ2 Fiasco: Jeff Bezos Was Jealous of Elon Musk Read More »
Your credit score can determine whether you can buy a car, get certain jobs or rent an apartment. It’s a big deal. And so is this: Credit scores for many Americans are about to change — even if they don’t do anything.
NPR: FICO Is About To Change Credit Scores. Here’s Why it Matters Read More »
The gap between rich and poor in America is the worst it’s been in more than a half century.
The Trump proposal aims to broaden the definition of what constitutes a bank’s community — taking into account that online banking now exists — while broadening the types of loans and services that would qualify under CRA.
The Washington Post: Crucial Bank Law Softened Under Trump Proposal Read More »
