“This new advance notice of proposed rulemaking appears to ask the kinds of questions that you might ask if you were trying to water down a rule,” says Jesse Van Tol, CEO of the National Community Reinvestment Coalition, a nonprofit that promotes fair practices in lending and housing. “Are there loopholes that should be provided? Is the rule burdensome?”
CityLab: How HUD Could Reverse Course on Racial Discrimination Read More »
“By eliminating affordable housing goals from the conventional mortgage market, lenders can choose to loan only to the well-heeled rich and ignore everybody still working their way up the economic ladder,”- Jesse Van Tol on Fannie, Freddie reform plan.
Only a fraction of the pledges for Ferguson reached the neediest parts of town. All the corporate goodwill – and millions in investments — were not enough to overcome a long legacy of racial discrimination and economic exclusion. Residents of Canfield Green, where Brown was shot and killed, say they feel abandoned.
The recommendation to abolish affordable housing goals would be disastrous for young Americans and the working class.
HUD appears to be thinking about how to create loopholes to avoid findings of disparate impact, a standard that says discrimination, regardless of intent, is illegal.
The Trump administration reconsiders the disparate impact rule Read More »
Joseph Otting, comptroller of the currency, is leading an effort to revamp the Community Reinvestment Act, which penalizes banks that discriminate against borrowers.
George Orwell was no banker, but if you applied his words to the current debate on the Community Reinvestment Act, he was correct: “The most effective way to destroy a people is to deny and obliterate their own understanding of their history.”
American Banker: Before modernizing CRA, consider its history Read More »
Juneteenth is the oldest known US celebration of the end of slavery. African-Americans and others mark the anniversary much like the Fourth of July, with parties, picnics and gatherings with family and friends. Here’s a look at Juneteenth, also called Emancipation Day, by the numbers:
CNN: Juneteenth: By the numbers Read More »
A black man has been president of the United States. So why, then, do so many find it hard to believe that a black woman owns a yarn shop in brownstone Brooklyn?
New York Times: A revival of black business, and pride, in Brooklyn Read More »
The city, which is preparing to release its first progress report on its effort, declined to share detailed data about the jobs it has created so far. But a coalition of labor and community groups says one obvious need has emerged: They say the city needs to do more to connect people in the city’s poorest neighborhoods to the new jobs.
New York Times: 100,000 New jobs for New York: will enough go to poorer workers? Read More »
After the vote, the Americans for Prosperity crew celebrated its victory at the Nashville Palace, a country music venue. “I knew we were going to win,” Ms. Venable said. “But I wasn’t taking my foot off the gas for a second.”
A new report reveals rising rents and surging inequality — and it’s only going to get worse.
Huffington Post: America’s housing crisis is a ticking time bomb Read More »
President Trump has yet to formally name Kathy Kraninger as his choice to head the Consumer Financial Protection Bureau, but her nomination is already in trouble — and that may be just fine with the White House.
American Banker: Trump’s CFPB choice faces uphill battle — and that’s part of the plan Read More »
President Trump has yet to formally name Kathy Kraninger as his choice to head the Consumer Financial Protection Bureau, but her nomination is already in trouble. That may be just fine with the White House.
American Banker: Trump’s CFPB choice faces uphill battle — and that’s part of the plan Read More »
Presentation at the 2018 Just Economy Conference. by Preservation of Affordable Housing, Inc. Session Title: Can we Preserve Affordable Housing in Gentrifying Neighborhoods ? Fintechs and the big banks are redefining the “small dollar” loan in an effort to reach unbanked and underbanked communities. Advocates must understand these products and understand how they compare to “small
Slides: Can we Preserve Affordable Housing in Gentrifying Neighborhoods Read More »
