In its own letter, the National Community Reinvestment Coalition said Oportun’s debt collection practices “fall short of the expectations of a CDFI, and certainly a CDFI seeking a national bank charter.”
The National Community Reinvestment Coalition and the California Reinvestment Coalition have standing to sue the OCC over Community Reinvestment Act (CRA) regulations issued in May.
Bloomberg Law: Community Groups’ Suit Over Trump Anti-Redlining Rules to Proceed Read More »
Increased awareness was especially important in 2020 because COVID-19 disproportionately impacted the Black business community.
5280: Will Support for Black-Owned Businesses Continue in 2021? Read More »
New research from the National Community Reinvestment Coalition (NCRC) found that Black and Latino small business owners had less access to those options than White small business owners.
MENAFN: Inequity In Access To Loan Modifications Read More »
Some new research from National Coalition for Community Reinvestment (NCRC) appears to validate some of the fears of many loan advocates amid coronavirus-related recovery efforts: inequality in access to useful banking services.
Underserved small businesses — primarily Black, Latinx, Asians and women-owned, who already face significant challenges accessing responsible capital — will have an even bigger struggle to access capital to help them weather the storm that is COVID-19.
American Banker: ‘The second way’ to close the wealth gap Read More »
In the past decade, Black women in the US have been setting up their own businesses at a historically fast rate. In Newark, too.
NJ Spotlight News: Self-made Black women: The new faces of small business in Newark Read More »
The National Community Reinvestment Coalition, a nonprofit based in Washington, D.C., conducted a “mystery shopper” study between April and late May and found white borrowers were given far better treatment and leniency at 13 out of 17 banks.
U.S. Magistrate Judge Kandis Westmore wrote on Friday that the National Community Reinvestment Coalition (NCRC) and another group had standing to challenge the regulations that changed how banks can comply with the Community Reinvestment Act, agreeing that the rule would harm community lending advocates.
Reuters: OCC must face lawsuit over relaxed anti-discrimination rule Read More »
A late move by the Trump administration would stop enforcement of protections against discriminatory practices that have a “disparate impact” on protected groups.
Fueling Black business growth is broader than just providing capital. It will require leaders in financial institutions, philanthropy, government, corporations, and investors to align and collaborate towards a clear set of goals that address systemic barriers. From supportive policy to representative leadership, it is critical that we work together to build the economy that reflects America’s promise.
Brookings: To expand the economy, invest in Black businesses Read More »
The “gentrification-industrial complex” isn’t who anti-growth progressives think it is.
The Atlantic: The Pandemic Disproved Urban Progressives’ Theory About Gentrification Read More »
A new law will stop the suspension of driver’s licenses when New Yorkers fail to pay fines, though the governor weakened the legislation before signing it.
The Appeal: New York Ends A Punishment That Traps People In Poverty Read More »
It’s not only billionaires that are the problem.
Bloomberg: For Corrosive Inequality, Look to the Upper Middle Class Read More »
The agency letter concludes a national bank or federal savings association may validate, store, and record payments transactions by serving as a node on an INVN.
