NCRC Statement: House Majority’s Doomed Vote Against Section 1071 Rules Is An Attack On Small Business
House Republicans’ doomed attempt to repeal section 1071 small business lending data rules is a pointless performance for their bank industry donors.
Video: Fintech Innovations for Entrepreneurs
Online Event Archive Recorded November 14, 2023 Can smart applications of financial technology give small businesses a competitive edge? Check out innovative products that allow small businesses to more efficiently manage capital flow and to provide valuable benefits to their employees with minimal cost. Hear from the entrepreneurs behind these products directly, and consider how
2024 Just Economy Conference: Registration Now Open
Registration for the 2024 Just Economy Conference is now open! We are so excited to invite you to join us in person from April 2-4 in Washington, DC! The Just Economy Conference is the leading national conference for economic and social justice. Don’t miss your chance to join activists, elected officials, policymakers, community leaders, civil
Contradictions in the fair housing movement
Seen in the The Journal of Urban History: an article about contradictory ideologies in the fair housing movement, by NCRC senior policy advisor Nichole Nelson. “While the National Committee Against Discrimination in Housing (NCDH) supported ending racial discrimination in the housing market by lobbying for state and local fair housing laws and the federal Fair
Comment on SBA Proposed Rule on Criminal Justice Reviews for the SBA Business Loan Programs
Download November 14, 2023 Dianna Seaborn, Director Office of Financial Assistance U.S. Small Business Administration 409 3rd Street SW Washington, DC 20416 RE:      RIN 3245-AI03, 2023-19183, Criminal Justice Reviews for the U.S. Small Business Administration’s Business Loan Programs and Surety Bond Guaranty Program, Dear Director Seaborn: The undersigned organizations appreciate the opportunity to comment on the
NCRC And First Citizens Announce $6.5 Billion Expansion Of Community Commitments In California And Massachusetts
The National Community Reinvestment Coalition (NCRC) and First Citizens Bank today announced an amendment to their previous community benefits agreement, extending the bank’s longstanding community support to Northern California and Massachusetts following its March acquisition of Silicon Valley Bank (SVB). The additional commitment, which recognizes pre-existing Silicon Valley Bank relationships, establishes a new $6.5 billion
The Racial Wealth Divide and Black Billionaires Across the Globe
As conversations regarding the rapid concentration of wealth dominate economic and political discourse, it’s worth analyzing the details of wealth within the billionaire class. However, little attention has been paid to billionaires of African descent. Twenty-four people of African descent have appeared in the Forbes billionaires list. People of African descent have historically been locked
KeyBank’s Betrayal Of Black And Low-Income Homebuyers Continued In 2022
KeyBank continued its years-long retreat from promoting Black and low-income homeownership in 2022, an analysis of the most recent federal data on mortgage lending reveals. Black borrowers made up just 2.6% of the Cleveland-based bank’s home purchase mortgage lending in 2022, down from 3% the year prior. KeyBank has been pulling back from supporting Black
The Racial Wealth Divide and US Black Billionaires
When the first Black billionaires emerged, most stemmed from the entertainment industry. In 2001, Black Entertainment Television cofounder Bob Johnson was the world’s wealthiest Black person with an estimated net worth of $1.6 billion. By 2021, Johnson’s estimated fortune had fallen by more than half – meaning he no longer appeared on annual magazine lists
New Report On Federal Home Loan Banks Can Be Springboard To Much-Needed Reforms
A rich new federal report assessing the Federal Home Loan Bank (FHLB) system will help the public and policymakers achieve effective reforms to improve the FHLBs’ future performance, community advocates said Wednesday. “Government support is crucial in closing the racial homeownership divide, but the dollars deployed through the FHLB system are too often captured on
Video: The New Community Reinvestment Act Rule: What’s In It And What Will It Mean
Online Event Archive Recorded November 3, 2023 Acting Comptroller of the Currency Michael Hsu, Chairman of the FDIC’s Board of Directors Martin Gruenberg and Federal Reserve Vice Chair for Supervision Michael Barr joined NCRC President and CEO Jesse Van Tol to discuss the new Community Reinvestment Act (CRA) rules. Speakers: Michael Hsu, Acting Comptroller
Low Unemployment and Labor Victories Unlikely to Bridge Racial Wealth Inequality
Was the October jobs report good, bad, or just plain complicated?
Give A Warm Welcome To NCRC’s Newest Members
NCRC’s membership spans more than 700 local, state and regional nonprofits, educational and faith-based institutions and government entities across the nation. Welcome to our new organizational members in October: View a map of all our members. If your organization isn’t yet a member, check out the options here. And if your organization is ineligible, you
Questions About The New CRA Rules? Join NCRC For A Conversation With Michael Barr, Martin Gruenberg And Michael Hsu
Federal Reserve Vice Chair for Supervision Michael Barr, FDIC Board Chairman Martin Gruenberg and Acting Comptroller of the Currency Michael Hsu will discuss the new Community Reinvestment Act (CRA) rules in a live conversation with National Community Reinvestment Coalition (NCRC) President and CEO Jesse Van Tol next Friday, November 3rd. Interested parties can register for
NCRC Statement On Final CRA Rules ReleaseÂ
In response to the release Tuesday of final interagency regulations overhauling implementation of the Community Reinvestment Act (CRA) for the first time in 28 years, National Community Reinvestment Coalition (NCRC) President and CEO Jesse Van Tol released the following statement: “This update is both long overdue and essential. Marginalized communities still suffer from a variety of
The CFPB Wants To Put You Back In Charge Of Your Personal Financial Data
The CFPB thinks that your personal data should belong to you, not your bank.
What California Is Doing To Address Its Housing Needs
California is in the midst of an affordable housing crisis, necessitating 1.2 million affordable homes. To combat this, they’ve adopted various policies, including density bonuses, zoning reform, and streamlined construction processes.
The Racial Wealth Divide and The First Black Billionaires
Who were the first Black billionaires, and how did they make their money?
NCRC, CRL And AFR Blast Senate Democrats For Betraying Small Business Owners With Vote To Rescind Section 1071
Sens. Manchin, Sinema, Tester, Hickenlooper and King voted against their constituents’ best interests on Wednesday.
New Federal Datasets Are An Important Step Forward In Understanding Appraisal Bias
Appraisal bias and other forms of racial discrimination can only be addressed when there is clear, consistent and thorough data to work from.
Give A Warm Welcome To NCRC’s Newest Members
With more than 700 local, state and regional nonprofits, educational and faith-based institutions and government entities making up the National Community Reinvestment Coalitions (NCRC)’s membership, it can be hard for new members to feel instantly connected. Let’s fix that by giving them a warm NCRC welcome! New organizational members in September were: If your organization
TransUnion Faces Big Fine As Regulators Heed NCRC Call For Fairness In Tenant Screening
The CFPB and FTC are fining TransUnion $20 million for tenants rights violations.
NCRC Applauds OCC for Intentions to Survey Trust in Banking, Calls for an Inclusive Sample of End-Users and a Focus on How Banking is Changing
(Download) October 10th, 2023 Chief Counsel’s Office Attention: Comment Processing Office of the Comptroller of the Currency 400 7th St. SW Suite 3E-218 Washington, DC 20219 RE: Trust in Banking Survey; Docket ID OCC-2023-0003 Dear Honorable Acting Comptroller Hsu: Thank you for the opportunity to comment on how the Office of the Comptroller will develop
NCRC Praises White House Action On Junk Fees
The Biden-Harris effort to protect consumers from junk fees is also good for legitimate businesses.
Hispanic Workers See Some Warning Signs In An Overall Good Jobs Report
Race, Jobs, and the Economy October 2023 Update September 15th through October 15th is Hispanic Heritage Month. As noted in our Latino Racial Wealth Snapshot, almost 19% of Americans are Hispanic and while their population has almost doubled in number since 2020 they remain far less wealthy than non-Hispanic White Americans. From college attainment to homeownership to income, Hispanics