The National Community Reinvestment Coalition found that weakening CRA would result in a loss of 10-20% in the volume of loans made in low- and moderate-income census tracts. In Minnesota, that would mean up to a $1.9 billion decrease in lending to small businesses and home purchases over five years.
The plan was drafted in cooperation with the National Community Reinvestment Coalition, an association of more than 600 community-based organizations that promotes access to essential banking services, affordable housing, entrepreneurship, job creation and vibrant communities.
Loans that are eligible for Community Reinvestment Act credit totaled billions of dollars in investment across Ohio from 2009-2018, according to the National Community Reinvestment Coalition.
“The agencies would lessen the public accountability of banks to their communities by enacting performance measures on CRA exams that would be complex and opaque while at the same time over-simplifying how to measure bank’s responsiveness to local needs,” the NCRC said.
The maps distinctly show neighborhoods where black populations have left and where white people have moved in.
A few banks are satisfied with the proposal, but “they’re in the very small minority,” said one industry official.
Politico: Bank-friendly regulator troubles lenders with redlining law rewrite Read More »
The U.S. economy of recent decades has eroded, rather than reinforced, the American model of thriving, self-sufficient families. In the decades to come, we will need to do better.
American Affairs: The Cost of Thriving Read More »
How the “intellectual giant” behind the study of the racial wealth gap has shaped the 2020 policy debate
Mother Jones: Is It Race or Class? Darrick Hamilton Showed Bernie the Answer. Read More »
If these offices prove successful, campaign officials say they may also open similar spaces aimed at Latinos and veterans and other targeted voter groups.
NPR: Seeking Black Voters, Trump Campaign To Open Offices In 15 Black Communities Read More »
Data gathered by the nonpartisan association the National Community Reinvestment Coalition in 2014 identified major barriers to women- and minority-owned small businesses lending.
Unless there is a significant change in either the public funding for the census, or the public’s willingness to fill out these forms, it is likely that millions of dollars in federal funding will be misallocated.
The Guardian: How the US census misses people of color – and why it’s so harmful Read More »
Eligible people struggle to maintain their case status for critical safety net services, often due to administrative hurdles and poor communication. Code for America piloted text message reminders to support Louisianians, which helped clients avoid costly churn. Text messages are an underrated, efficient solution for human service agencies to meet client expectations and improve case outcomes.
Code for America: Cell Phones as a Safety Net Lifeline Read More »
Section 1981 of the Civil Rights Act of 1866 protects contractual rights on the basis of race. According to the U.S. Equal Employment Opportunity Commission (EEOC), this encompasses “all contractual aspects of the employment relationship, such as hiring, discharge and the terms and conditions of employment.”
An innovative effort to achieve health equity brings locals to the discussion table.
U.S. News: In Rhode Island, Health Equity Zones Offer Communities a Voice Read More »
The celebrated French economist is back with an ambitious and optimistic work of social science, which argues that inequality always relies on ideology.
