Race, Jobs & The Economy
The latest monthly jobs report from the Bureau of Labor Statistics (BLS) provides important insights into the current state of the US labor market. In February 2023, there was an increase of 311,000 new jobs.
The simplest lessons from SVB: Weakened rules, too much risk
How To Protect Depositors from Bank Failures? Prevent Banks from Taking Big Risks While it would be appealing to have a clear, singular villain to blame, it took many actors and decisions to set up the conditions that led to three bank failures in the last few weeks. Banks, regulators, depositors and politicians all played a role. …
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Video: CRA Basics
Online Event Archive Recorded February 23, 2023 Banks have the capital to be a catalyst for change in your neighborhood and can be critical community partners. This presentation will cover how NCRC uses the Community Reinvestment Act (CRA) to secure community benefits agreements with banks and explore how CRA can be used to increase reinvestment …
Incorporating Race into the Illinois Community Reinvestment Act
February 28, 2023 Mr. Craig Cellini Rules Coordinator Illinois Department of Financial and Professional Regulation 329 West Washington, 3rd Floor Springfield, IL 62789 Via Email: Craig.Cellini@Illinois.gov RE: NCRC’s Written Testimony for the Bank Community Reinvestment Hearing on March 2, 2023 Code Citation: 38 Ill. Adm. Code 345 Dear Mr. Cellini: The National Community Reinvestment Coalition (NCRC), an association …
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2023 Advocacy Week Policy Agenda for the 118th Session of Congress
2023 Advocacy Week Agenda 118th Session of Congress Photo by: ©tonktiti – stock.adobe.com Investing in a Just Economy Our 2023 Advocacy Week Agenda serves to prepare attendees of NCRC Advocacy Week to meet with their members of Congress during our Just Economy Conference. It is a call to action on four core issues, discussed in …
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NCRC Submits Comments to the Appraisal Subcommittee About Tackling Discriminatory Home Appraisals in Response to its January 24th Hearing
(Download) February 8, 2023 Jim Park Executive Director Appraisal Subcommittee 1325 G Street Suite 500, NW Washington, DC 20005 appraisalbiashearing@asc.gov Dear Executive Director Park: The National Community Reinvestment Coalition appreciates the opportunity to submit written comments to the Federal Financial Institutions Examination Council’s Appraisal Subcommittee. We thank the Appraisal Subcommittee of the Federal Financial Institutions Examination …
Preventing Bluelining: NCRC’s Comment on the Federal Reserve’s Principles for Climate-Related Risk Management
(Download) February 6, 2023 Ann E. Misback Secretary, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue NW, Washington, DC 20551 regs.comments@federalreserve.gov RE: Federal Reserve Principles for Climate-Related Financial Risk Management for Large Financial Institutions, 87 Fed. Reg. 75267 Attention: Docket No. OP-1793 The National Community Reinvestment Coalition (NCRC) appreciates the opportunity …
Racial Wealth Snapshot: Immigration And The Racial Wealth Divide
There has been a steady increase in foreign-born immigrants throughout the decades. In 1980, foreign-born immigrants accounted for only 5% of the US population. According to the 2020 Current Population Survey (CPS), immigrant parents and their US-born children make up 85.7 million of the US population, or around 26% of the US population.
Columbia at 55: Creeping Segregation and Lack of Affordable Housing Threatens A Legacy of Black/White Integration
Columbia represented case study in a new era of desegregation for American housing in the 1960s. These efforts at desegregation focused on easing the division of Black and White residential neighborhoods. While there has been exponential growth of the Asian and Hispanic communities of Columbia during the past three decades, this report focuses on the economic status of the Black community since development.
Guidelines for Evaluating Account and Services Requests, Docket No. OP-1788
(Download) January 17, 2023 Ann E. Misback Secretary Board of Governors of the Federal Reserve System 20th and Constitution Avenue, NW Washington, DC 20551 RE: Guidelines for Evaluating Account and Services Requests, Docket No. OP-1788 Dear Secretary Misback: Thank you for the opportunity to provide comments on the Proposed Guidelines Evaluating Account and Services Requests. The …
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2023 Policy Agenda For The 118th Congress
2023 Policy Agenda For The 118th Session Of Congress DOWNLOAD FULL POLICY AGENDA Investing in a Just Economy For over 30 years, NCRC has worked to create a just economy. We believe capital of various forms must be engaged in building an equitable and fair economy. There is a legal obligation for banks and other …
NCRC and its Coalition Call on Regulators to Reform Bank Merger Reviews. All Mergers Must Result in Benefits for the Public
(Download) The Honorable Martin Gruenberg Acting Chair of the Board The Federal Deposit Insurance Corporation 550 17th Street, NW Washington, D.C. 20429 The Honorable Michael Hsu Acting Comptroller of the Currency Office of the Comptroller of the Currency 400 7th Street, SW Washington, D.C. 20219 The Honorable Michael Barr Vice Chair for Supervision Board of …
REDLINED: KeyBank Continues to Fail Black America Despite Its Commitments to Improve
KeyBank disregarded commitments to improve lending to Black homeowners and potential homeowners. Federal data shows KeyBank now ranks at the bottom among the 50 largest mortgage lenders in the nation in the percentage of its borrowers who are Black, live in majority-minority or LMI neighborhoods and are people of color.
Investing in Culturally-Significant Businesses and Community Growth
Arts and culture are an important component of overall quality of life for every person on earth. Access to cultural resources and connections – or the lack thereof – shapes many aspects of our nation’s society. It also influences economic outcomes, as economists who study the role of “human capital” in wealth-building and opportunity creation have identified.
Video: Democratizing Wealth Building to Help Close the Racial and Gender Gap
Online Event Archive Recorded November 15, 2022 Persistent racial and gender wealth gaps remain a major obstacle to building financial security for low- and moderate-income (LMI) households in the United States. How can we ensure that the financial system, and opportunities to build wealth, are developed to meet the needs of LMI people? Income alone …
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