Born as a fiercely independent agency meant to protect citizens, the Consumer Financial Protection Bureau has quickly been subsumed into the Trump administration. Banks, student-loan agencies and payday lenders are the winners.
Propublica: The CFPB’s declaration of dependence Read More »
Fifty years after the federal Fair Housing Act banned racial discrimination in lending, African Americans and Latinos continue to be routinely denied conventional mortgage loans at rates far higher than their white counterparts.
Reveal: For people of color, banks are shutting the door to homeownership Read More »
Millions of mortgage records analyzed by Reveal from The Center for Investigative Reporting show that the legacy of redlining persists.
Reveal: How we identified lending disparities in federal mortgage data Read More »
Lawmakers should reject a dangerous bill — scheduled for a House vote this week — that could make it easier for payday lenders to flourish.
Uphams Corner city officials, with the help of the community, are working to acquire properties and revitalize their city.
Boston Globe: How the city plans to beat gentrification in Uphams Corner Read More »
Trump’s budget proposal would cut billions from the social safety net while paving the way for broad work requirements for families receiving housing
Washington Post: Trump’s budget hits poor Americans the hardest Read More »
Wells Fargo & Co. Chief Executive Officer Tim Sloan said last year that a wholesale makeover of his board would be “crazy.” Well, now it’s happening.
Bloomberg: Wells Fargo CEO confronts board overhaul he once called ‘crazy’ Read More »
Analysis shows that the collision of these forces could trigger economic disruption far greater than we have experienced over the past 60 years.
Bain & Company: Labor 2030: The collision of demographics, automation and inequality Read More »
The National Community Reinvestment Coalition, joined by almost 500 national and local organizations, today sent a set of recommendations to Treasury Secretary Steve Mnuchin and Comptroller of the Currency Joseph M. Otting to strengthen the Community Reinvestment Act.
The troubling findings in the 2018 Prosperity Now Scorecard and report
Next Avenue: Prosperity in America? not for low-income people Read More »
The less money you have, the more you spend to just be able to use money.
There are 5.3 million Americans who are absolutely poor by global standards. This more than in Sierra Leone (3.2 million) or Nepal (2.5 million).
New York Times: The U.S. can no longer hide from its deep poverty problem Read More »
A number of civil rights and affordable housing groups, including NCRC, criticized the Fannie, Freddie reform bill as an “ill-conceived approach [that] places the risk on the backs of the hardworking families who already rescued the big banks.”
The Consumer Financial Protection Bureau stripped the Office of Fair Lending of its enforcement powers. John Taylor, President and CEO of the National Community Reinvestment Coalition said, “I am appalled to see one of the most effective offices within the CFPB stripped of responsibility to stop redlining, predatory lending, and other discriminatory behavior by financial firms.”
City lab attains draft of new HUD proposal to enforce work requirements and increase rent for millions receiving housing HUD.
City Lab: HUD may push new work requirements for public housing residents Read More »
