Strengthening and expanding the reach of the Community Reinvestment Act and duties to serve throughout the financial sector has to be at the forefront of policy questions about racial equity, the racial wealth gap and expanding financial inclusion for lower income communities.
A late move by the Trump administration would stop enforcement of protections against discriminatory practices that have a “disparate impact” on protected groups.
Fueling Black business growth is broader than just providing capital. It will require leaders in financial institutions, philanthropy, government, corporations, and investors to align and collaborate towards a clear set of goals that address systemic barriers. From supportive policy to representative leadership, it is critical that we work together to build the economy that reflects America’s promise.
The “gentrification-industrial complex” isn’t who anti-growth progressives think it is.
A new law will stop the suspension of driver’s licenses when New Yorkers fail to pay fines, though the governor weakened the legislation before signing it.
It’s not only billionaires that are the problem.
The agency letter concludes a national bank or federal savings association may validate, store, and record payments transactions by serving as a node on an INVN.
JPMorgan Chase “stands out to me in being a little ahead of the game,” compared with other firms, says Dedrick Asante-Muhammad, chief of race, wealth, and community at the National Community Reinvestment Coalition in Washington.
We are excited and proud to feature the following contributors in this series:..Anneliese Lederer, National Community Reinvestment Coalition
The Race and Ethnic Representation and Investment (RERI) framework, released by the National Community Reinvestment Coalition (NCRC), outlines a grading scale banks can use to measure their internal representation of different races and ethnicities.
it’s clear that more than FHA is needed to increase minority homeownership. So it’s not surprising that the new legislation is supported by a broad spectrum of the housing industry, from the Mortgage Bankers Association to the National Community Reinvestment Coalition.
A 2018 study by the National Community Reinvestment Coalition found that “while overt redlining is illegal today, having been prohibited under the Fair Housing Act of 1968, its enduring effect is still evident in the structure of U.S. cities.”
Researchers affiliated with the National Community Reinvestment Coalition sent “mystery shoppers” to banks in the Washington, D.C., area in April and May. They found that white applicants — white men in particular — were significantly more likely to be encouraged to apply for Paycheck Protection Program loans than Black applicants with slightly better financial profiles.
The report by the National Community Reinvestment Coalition shows that life expectancies vary in Rochester by about five years between redlined and high-rated neighborhoods, according to government classifications dating from the 1930s.