Philadelphia has been one of the most rapidly gentrifying metro areas in the nation. A recent study by NCRC found that between 2000 and 2013, 57 neighborhoods in Philadelphia showed signs of residential gentrification. This includes the influx of large numbers of college-educated residents, booming property values, and rising incomes. Mapping these neighborhoods shows the […]
Philadelphia and the rapid gentrification of downtown Read More »
To understand why some parts of Philadelphia continue to struggle to attract investment in businesses it is critical to know about the city’s history of redlining and segregation. “Redlining” was the practice of barring lending in certain areas of cities based not just on the physical factors of the neighborhood and its housing stock, but
Philadelphia and business disinvestment Read More »
At the national level, disparities in the proportion of minority-owned and white-owned businesses have been narrowing over time. A 2012 survey of business owners indicated that while nearly 71% of businesses were white-owned, black and Hispanic entrepreneurship increased from 7.1% and 8.3% in 2007, to 9.5% and 12.2%, respectively. Unfortunately, the number of black and
Minority entrepreneurship in Philadelphia Read More »
For years, advocates have known that the Community Reinvestment Act, or CRA, helps low and moderate income communities gain access to financial services, loans, and community development investments that would otherwise be unavailable. Since 1996, over $2 trillion in community development, mortgage, and business loans were made by banks obligated to invest in their communities
What the Community Reinvestment Act means to lending in Philadelphia Read More »
WASHINGTON, D.C. – Today, Senator Elizabeth Warren announced a new bill tackling discriminatory lending, Community Reinvestment Act modernization, affordable homeownership and relief for families still recovering from the Great Recession. Jesse Van Tol, CEO of the National Community Reinvestment Coalition (www.ncrc.org), made the following statement: “Senator Warren is proposing a bold vision for addressing financial
Senator Warren proposes new vision for affordable housing and economic opportunity Read More »
Some members of the NCRC family are preparing for Hurricane Florence and its aftermath. Others will be available to offer assistance to those hit hardest. We’ve created some disaster preparedness suggestions for our members. We will continue to update this page. For individuals: 7 things to do before Florence arrives Know where your gas shut
Preparing for Hurricane Florence Read More »
WASHINGTON, D.C. – Today the House Financial Services Committee Chairman, Jeb Hensarling (R-TX), unveiled a bipartisan bill to reform the government-sponsored housing enterprises (GSEs). In a press release, Hensarling vowed to end the conservatorship of Fannie Mae and Freddie Mac by winding them down completely. Hensarling’s press statement fails to mention any efforts to tackle
It’s time to end GSE conservatorship, but not their affordability goals. Read More »
WASHINGTON, D.C. – A new forecast projects that changes to the Community Reinvestment Act could reduce lending in lower-income communities up to $105 billion dollars in the next five years. The forecast by researchers at the National Community Reinvestment Coalition comes as the Trump administration considers ideas pushed by banks to change enforcement of the
On August 28, the Office of the Comptroller of the Currency (OCC) issued an Advance Notice of Proposed Rulemaking (ANPR) concerning the Community Reinvestment Act (CRA). The ANPR does not propose specific changes to the regulation implementing CRA. Instead, the OCC describes concepts or frameworks for changing CRA and poses several questions regarding the effectiveness
NCRC analysis of the advanced notice of proposed rulemaking (ANPR) Read More »
NCRC used data collected under the Community Reinvestment Act (CRA) and the Home Mortgage Disclosure Act (HMDA) for the years 2012 through 2016 to calculate the sum of loan amounts made during this period for every census tract in the United States. Building upon the work of research in academia and the Federal Reserve, we
Living Longer: We Need Age-Friendly Banking Like most institutions, the American banking system must evolve to meet current needs. Although we all age, and although people on average are living longer and healthier lives, our society has yet to adjust for this substantial demographic shift. Age-Friendly Banking is a set of recommendations that NCRC has
Charting the future course of Age-Friendly Banking Read More »
WASHINGTON, D.C. – Today, The Office of the Comptroller of the Currency (OCC) released an Advanced Notice of Proposed Rulemaking to change how banks are tested for compliance with the Community Reinvestment Act (CRA). The 1977 law requires banks serve the needs of all communities in which they are chartered to do business. The OCC
August 20, 2018 Regulations Division, Office of General Counsel Rules Docket Clerk Department of Housing and Urban Development 451 Seventh Street SW, Room 10276 Washington, D.C. 20410-0001 Re: Docket No. FR-6111-A-01 Advanced Notice of Proposed Rulemaking Reconsideration of HUD’s Implementation of Fair Housing Act’s Disparate Impact Standard Dear Assistant Secretary Farias: On behalf of
Disparate impact reconsideration comments Read More »
The idea behind the one ratio is that it will immediately signal to banks whether they are in compliance with CRA and can reasonably expect to pass their next CRA exam.
The one big CRA fight over the one ratio Read More »
My daughter will be attending college near Charlotte, North Carolina, in the fall. As part of her orientation, the college asks all incoming freshmen to read a common book. This year, the book was Color and Character by North Carolina historian Pamela Grundy, a story about the struggle for integration and educational equity in Charlotte, North
An old American struggle, always new Read More »
