NCRC

American Banker, May 17, 2022, FDIC, CFPB target crypto firms that make false claims of deposit insurance The Federal Deposit Insurance Corp. adopted a rule Tuesday that outlines its authority to prohibit individuals and organizations from making misrepresentations about deposit insurance, or misusing the FDIC’s name or logo. Following the meeting, the Consumer Financial Protection Bureau […]

The New Yorker, May 15, 2022, American Racism and the Buffalo Shooting On Saturday, in the parking lot of a neighborhood grocery store, an eighteen-year-old armed with a semi-automatic assault rifle, the N-word emblazoned on its front sight, began shooting. Shots cracked in the air, piercing through an unusually warm eighty-degree spring afternoon in Buffalo,

Defender News Service, May 15, 2022, Report: America’s major cities pricing out Black residents At the onset of the pandemic, there wasn’t a single state, region, or county in America where a full-time worker earning the minimum wage could afford a two-bedroom rental home, and nearly half of Black and Latinx renters (and more than a

The White House, May 16, 2022, President Biden Announces New Actions to Ease the Burden of Housing Costs As President Biden said last week, tackling inflation is his top economic priority. Today, President Biden is releasing a Housing Supply Action Plan to ease the burden of housing costs over time, by boosting the supply of

Fortune, May 10, 2022, Student loan forgiveness is the overlooked remedy that could help close the racial wealth gap Joe Biden has canceled more student loan debt than any other U.S. president, forgiving $16 billion in federal student loans for targeted groups such as disabled borrowers, and students who were defrauded by their institutions. Since April, Biden

American Banker, May 6, 2022, CFPB reiterates skepticism of AI in fair-lending report The Consumer Financial Protection Bureau reiterated its skepticism of machine learning and predictive analytics in a fair-lending report issued Friday that shows an increase in actions against redlining and discriminatory practices. The CFPB said financial services will be increasingly shaped by predictive

The Wall Street Journal, May 9, 2022, Fed Rate Hikes Are Good for Banks—Unless They End in a Recession Higher rates are supposed to help bank stocks, but they haven’t this year. The Federal Reserve has raised rates twice since March in a bid to curb inflation and hinted that more increases are on the way. But

The Boston Globe, May 7, 2022, Priced out of the city, Black Bostonians are finding their dream homes on the South Shore The outmigration of thousands of Boston’s Black residents, observers say, also means the loss of the culture and community they carry with them. And it presents a challenge for city leaders: How to

American Banker, May 4, 2022, Big-bank CEOs warn of recession risk The CEOs of three large U.S. banks are raising concerns about a possible recession, saying the Federal Reserve has a tricky job ahead in combating inflation without sparking a downturn. JPMorgan Chase’s Jamie Dimon, Bank of America’s Brian Moynihan and Morgan Stanley’s James Gorman

NPR, May 2, 2022, A US pediatricians’ group is trying to eliminate race-based medical guidance For years, pediatricians have followed flawed guidelines linking race to risks for urinary infections and newborn jaundice. In a new policy announced Monday, the American Academy of Pediatrics said it is putting all its guidance under the microscope to eliminate

Bloomberg, May 2, 2022, What Does Affordable Housing Do to Nearby Property Values? Concerns about what happens to the property values of existing residents when affordable housing is built nearby are a common feature of battles over new housing in U.S. cities. But this time, Alexandria’s director of housing, Helen McIlvaine, decided to look for some Alexandria-specific answers.

Politico, May 2, 2022, Supreme Court has voted to overturn abortion rights, draft opinion shows The Supreme Court has voted to strike down the landmark Roe v. Wade decision, according to an initial draft majority opinion written by Justice Samuel Alito circulated inside the court and obtained by POLITICO. The draft opinion is a full-throated, unflinching repudiation of the

AP News, April 29, 2022, Redfin settles lawsuit alleging housing discrimination Fair housing advocates on Friday announced a settlement agreement to resolve a lawsuit against real estate brokerage Redfin that will expand housing opportunities for consumers in communities of color in numerous major cities. Under the agreement, Seattle-based Redfin will change its minimum housing price