The current housing crisis could get messy quickly, but fixing it shouldn’t be complicated, if Congress intervenes.
The Atlantic: A Lot of Americans Are About to Lose Their Homes Read More »
A comparison with global development indicators suggests that Americans of different races inhabit all but separate countries.
Bloomberg Opinion: ‘E Pluribus Unum’ Is a Cruel Mirage Read More »
“I think the idea of, ‘We’ll just go ahead and let branches abandon our cities’ — I think we’d regret that on the back end of this,” he told the Financial Times.
Banking Dive: Don’t use coronavirus as excuse to close branches, OCC says Read More »
At least six investigations into discriminatory mortgage loan “redlining” have been halted or stalled — against staff recommendations — under the Trump administration’s Office of the Comptroller of the Currency.
ProPublica: Trump Financial Regulator Quietly Shelved Discrimination Probes Into Lenders Read More »
4.9 million
That’s how many PPP loans have been approved so far, according to data from the Small Business Administration, from a pool of 5,461 lenders. All together, those loans were worth $521 billion.
Forbes: Here’s What Was Inside The Government’s Massive PPP Data Dump Read More »
The fundamental American ideal is that every individual is entitled to “life, liberty, and the pursuit of happiness.” But the fullness of the American Dream has remained persistently elusive for generations of Black Americans.
Many big lenders are not openly willing to make loans to new customers through the Federal Reserve’s program for midsize businesses
New York Times: Big Banks Aren’t Embracing Fed’s Main Street Loan Program Read More »
Using a match-paired testing technique where White and Black borrowers discussed the same loan at the same Washington-area bank, the National Community Reinvestment Coalition and a team of academics found that Black applicants received discriminatory treatment 43% of the time.
Bloomberg Law: Coronavirus Stimulus Loans Face Fair Lending Scrutiny From CFPB Read More »
A recent study from the National Community Reinvestment Coalition shows that lending discrimination played a role in the distribution of PPP funds.
TAP Into: Payroll Protection Program Funds Went to Support Over 9,500 Jobs in Newark Read More »
As part of a study by the National Community Reinvestment Coalition, a nonprofit in Washington, D.C., university researchers sent pairs of potential borrowers with almost identical credit and asset characteristics to multiple Washington-area banks to ask about coronavirus relief; the only significant difference between the borrowers was their race.
It was conducted by the National Community Reinvestment Coalition, a nonprofit in Washington, in partnership with researchers from universities in Utah and New Jersey.
Community groups like the National Community Reinvestment Coalition, the California Reinvestment Coalition and legal oversight group Democracy Forward agree that the administration has been keen on gutting the CRA.
Banker & Tradesman: OCC’s ‘Fix’ Weakens Anti-Redlining Law Read More »
A recent study by the National Community Reinvestment Coalition found that White applicants were more likely to be encouraged than Black applicants when applying for loans.
Stella Adams, a housing advocate and retired chief of equity and inclusion for the National Community Reinvestment Coalition in Durham, North Carolina, called for “reparations in the form of affirmatively fair housing actions that would increase Black homeownership, through soft seconds on loans, allowing tenant ownership of multifamily housing, enforcing Section 3, and supporting local Black businesses through contracts and grants.“
A study released Wednesday by the National Community Reinvestment Coalition on the PPP, criticized using banks as the conduits for the loans and that African Americans with similar or better financial profiles than whites were still less likely to be approved for the funds.
Breitbart: Mnuchin, Carranza take fire during House hearing on PPP Read More »
