U.S. Opportunity Zones and gentrified neighborhoods

U.S. Opportunity Zones and gentrified neighborhoods NCRC has found that 69% of neighborhoods that gentrified between 2000 and 2017 are either an Opportunity Zone or they are adjacent to one. For more information on NCRC’s work on gentrification and displacement see our report here. For more information on Opportunity Zones see the following websites: https://www.irs.gov/newsroom/opportunity-zones-frequently-asked-questions […]

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Bank branches are still essential for small business communities

Bank branches matter. Countering the overwhelming messaging from many banks and even some regulators, the National Community Reinvestment Coalition (NCRC) has published several reports over the years that detail how much branches still matter for consumers and communities, even in 2019. Just look at the number of branches that banks opened in the last year, and it is clear that they also know the value of a physical outpost in the community they want to serve.

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Small business lending data is the iceberg in our economic ocean

In September 2018, the Federal Deposit Insurance Corporation (FDIC) released the results of a survey of 1,200 banks on small business lending in America. It found that small business lending is threatened by the decline of smaller banks and the reduction of bank branches in many communities. But just as revealing was what the survey didn’t find. More information that would be essential for policy and regulatory decisions remains concealed, invisible to the public.

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American neighborhood change in the 21st Century

Downtown areas in many economically vibrant and changing cities across the United States are being rapidly gentrified, according to a new study by the University of Minnesota School of Law. The study, “American Neighborhood Change in the 21st Century: Gentrification and Decline,” also found that neighborhoods in the inner-ring suburbs of these same cities, built […]

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Home lending to LMI borrowers and communities by banks compared to non-banks

Introduction As the federal bank agencies consider Community Reinvestment Act (CRA) reform, data on the patterns of lending to low- and moderate-income (LMI) borrowers and neighborhoods will help inform needed changes. For example, if non-banks not covered by CRA were found to be making significantly higher percentages of loans to LMI borrowers or neighborhoods than […]

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The CFPB’s consumer complaint database tells a story about our economy we need to hear

There is a little known public database of complaints about financial institutions that is garnering a lot of criticism from some banks and regulators. Despite this criticism, highly valuable information can be gleaned from these complaints that can help banks and other financial institutions better serve their customers. In 2010, when the Dodd-Frank Wall Street […]

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Canada is having a housing crash that should serve as a warning to the US

The entire Canadian housing and mortgage market has dropped off a financial cliff, which should pose as a warning for the U.S. as we talk about reforming our Government-Sponsored Enterprise (GSE) system. In 2008, when the U.S. was entering a full housing market crash, Canada took several steps to disguise the exposure of Canadian households. […]

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Philadelphia and the rapid gentrification of downtown

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 […]

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Minority entrepreneurship in Philadelphia

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 […]

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What the Community Reinvestment Act means to lending in Philadelphia

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 […]

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NCRC forecast: Weakening the Community Reinvestment Act would reduce lending by hundreds of billions of dollars

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 […]

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The importance of CRA assessment areas and bank branches

In 1977, Congress enacted the Community Reinvestment Act (CRA) and required federal bank agencies to assess the record of banks in meeting needs for credit and banking services in communities in which banks are chartered. The federal bank agencies responded by creating CRA examinations that assessed banks’ performance in geographical areas containing bank branches and […]

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