“We need to radically shift the architecture of economic policy that replicates inequality by only rewarding people with wealth,” Perry says.
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According to a state audit, Mississippi allowed tens of millions of dollars in federal anti-poverty funds to be used in ways that did little or nothing to help the poor.
Trump effort to let banks off the hook would be huge step backwards.
CommonWealth Magazine: It’s no time to weaken the Community Reinvestment Act Read More »
Nonprofit groups led by black and Latino directors lag behind peers with white leaders, but two leading philanthropic organizations hope to change that.
“Combine that with the increasing income segregation that we’re seeing, and you have a picture of an economic opportunity crisis that was bad while the tape was playing. Now the tape has run out, and it’s poised to get significantly worse,” he added.
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Silver and others said more targeted CRA investments can have a bigger impact in the middle of a crisis.
Recessions are always racist. This one could be catastrophic.
Vox: The Near-Certainty of a Black Depression Read More »
“The last foreclosure crisis was a slow-moving train; the impact in terms of people was over the course of several years,” said Jesse Van Tol, chief executive of the National Community Reinvestment Coalition, a research and advocacy coalition of 600 community organizations. “Whereas the current moment, it’s all happening pretty quickly, 25 million, 30 million unemployed in a manner of a few weeks.”
Some of Lamb’s notable work includes a former partnership with the National Community Reinvestment Coalition, which was a $30 billion community commitment that focused on access to capital for small businesses, first-time homeownership, and educational opportunities for underserved communities and people of color.
More than half of Latino families live one crisis away from financial disaster and wouldn’t be able to cover basic expenses for three months in the event of an economic burden, according to the National Community Reinvestment Coalition, a nonprofit targeting discrimination in lending, housing and business practices.
“We expect the additional PPP funding will run out of money just as quickly as the first round — if not sooner — and it’s only going to reach very small and minority-owned businesses if the Small Business Administration makes that a priority,” Jesse Van Tol, CEO of National Community Reinvestment Coalition said in a statement.
“Congress should have gone further and required that, but it didn’t. If the SBA doesn’t explicitly prioritize micro-businesses and minority-owned businesses, it’s likely that bigger companies will once again dominate the program while the smallest businesses are once again left out.”
“The severity of this disease in the African American community is a crisis within a crisis,” Wisconsin Gov. Tony Evers, a Democrat, said Friday.
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We’re three months into 2020 — yet this is how long American women must work into the year to earn the same salary as men did in 2019.
CNN Business: Today Is Equal Pay Day for Women and It’s Not a Day to Celebrate Read More »
There is no doubt that the rule changes proposed by the government would diminish the effectiveness of a law that was desperately needed when it was enacted and which remains essential to ensure banks meet the credit needs of all communities where they take deposits, not just the wealthy ones.
Nationally, 71% of households with children rely on women’s income for their economic well-being. The wage gap puts them at an even greater disadvantage when financial crises hit, says Roy in this op/ed.
