“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.
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.”
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:
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?
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.
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.”