Race, Jobs, and the Economy November 2023 Update: Strong Economic Indicators For African Americans Yet Pessimism In Alleviating Racial Inequality
What can the November jobs report tell us about the future of racial economic inequality?
NCRC’s Guide To The 2023 Community Reinvestment Act Final Rule
A user’s guide to the new Community Reinvestment Act final rule: What’s new, what’s the same, and how will it affect you?
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Unprecedented Analysis Of Financial Needs In Indian Country Demands Change From Banks In Native American Community Development Investments
A new report maps severe financial neglect across Indian Country in the American southwest — and offers solutions.
Redlining The Reservation: The Brutal Cost Of Financial Services Inaccessibility In Native Communities
An unprecedented analysis maps the shape and depth of economic despair in the Native American southwest.
NCRC Statement: House Majority’s Doomed Vote Against Section 1071 Rules Is An Attack On Small Business
House Republicans’ doomed attempt to repeal section 1071 small business lending data rules is a pointless performance for their bank industry donors.
NCRC And First Citizens Announce $6.5 Billion Expansion Of Community Commitments In California And Massachusetts
The National Community Reinvestment Coalition (NCRC) and First Citizens Bank today announced an amendment to their previous community benefits agreement, extending the bank’s longstanding community support to Northern California and Massachusetts following its March acquisition of Silicon Valley Bank (SVB). The additional commitment, which recognizes pre-existing Silicon Valley Bank relationships, establishes a new $6.5 billion
The Racial Wealth Divide and Black Billionaires Across the Globe
As conversations regarding the rapid concentration of wealth dominate economic and political discourse, it’s worth analyzing the details of wealth within the billionaire class. However, little attention has been paid to billionaires of African descent. Twenty-four people of African descent have appeared in the Forbes billionaires list. People of African descent have historically been locked
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KeyBank’s Betrayal Of Black And Low-Income Homebuyers Continued In 2022
KeyBank continued its years-long retreat from promoting Black and low-income homeownership in 2022, an analysis of the most recent federal data on mortgage lending reveals. Black borrowers made up just 2.6% of the Cleveland-based bank’s home purchase mortgage lending in 2022, down from 3% the year prior. KeyBank has been pulling back from supporting Black
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The Racial Wealth Divide and US Black Billionaires
When the first Black billionaires emerged, most stemmed from the entertainment industry. In 2001, Black Entertainment Television cofounder Bob Johnson was the world’s wealthiest Black person with an estimated net worth of $1.6 billion. By 2021, Johnson’s estimated fortune had fallen by more than half – meaning he no longer appeared on annual magazine lists
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New Report On Federal Home Loan Banks Can Be Springboard To Much-Needed Reforms
A rich new federal report assessing the Federal Home Loan Bank (FHLB) system will help the public and policymakers achieve effective reforms to improve the FHLBs’ future performance, community advocates said Wednesday. “Government support is crucial in closing the racial homeownership divide, but the dollars deployed through the FHLB system are too often captured on
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Low Unemployment and Labor Victories Unlikely to Bridge Racial Wealth Inequality
Was the October jobs report good, bad, or just plain complicated?
Low Unemployment and Labor Victories Unlikely to Bridge Racial Wealth Inequality Read More »
Questions About The New CRA Rules? Join NCRC For A Conversation With Michael Barr, Martin Gruenberg And Michael Hsu
Federal Reserve Vice Chair for Supervision Michael Barr, FDIC Board Chairman Martin Gruenberg and Acting Comptroller of the Currency Michael Hsu will discuss the new Community Reinvestment Act (CRA) rules in a live conversation with National Community Reinvestment Coalition (NCRC) President and CEO Jesse Van Tol next Friday, November 3rd. Interested parties can register for
NCRC Statement On Final CRA Rules ReleaseÂ
In response to the release Tuesday of final interagency regulations overhauling implementation of the Community Reinvestment Act (CRA) for the first time in 28 years, National Community Reinvestment Coalition (NCRC) President and CEO Jesse Van Tol released the following statement: “This update is both long overdue and essential. Marginalized communities still suffer from a variety of
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The CFPB Wants To Put You Back In Charge Of Your Personal Financial Data
The CFPB thinks that your personal data should belong to you, not your bank.
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The Racial Wealth Divide and The First Black Billionaires
Who were the first Black billionaires, and how did they make their money?
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