Public Books: The Big Picture: America’s real estate developer in chief

A native of Queens, Donald Trump was the son and heir to Fred Trump, a scrappy and ruthless developer of housing for New York’s white working and middle class. An outer-borough nativist and one-time Klan supporter, the senior Trump profited mightily from the federal government’s massive intervention in the real estate industry, which began in the Great Depression. His fortune was premised on strict racial segregation, a process whose legacies still shape the geography of urban and suburban America.

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Comment Letter on Public Dissemination of HMDA Data

November 22, 2017 Docket No. CFPB-2017-0025 Monica Jackson Office of the Executive Secretary Consumer Financial Protection Bureau 1700 G. St. NW Washington, DC 20552   Dear Ms. Jackson: The undersigned organizations appreciate that the Consumer Financial Protection Bureau (CFPB) carefully applied the balancing test in determining which of the new Home Mortgage Disclosure Act (HMDA) […]

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Next City: “Mystery Shopper” Experiment Reveals Racial Gap in Small Business Lending

Earlier this year, in a large metropolitan area of the eastern United States, two men walked into the same bank branch on the same day, each at different times of the day.

They each came in with nearly identical business backgrounds and strong credit histories, and they each asked about a small business loan of $60,000-$70,000 to expand their business and to possibly hire a part-time employee. There were some key differences, like each man’s name and their company names — and their race.

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The Intercept: Wall Street Wants to Kill the Agency Protecting Americans From Financial Scams

The CFPB has emerged as that rare beast — a fast-moving agency that actually chalks up wins for average Americans. Industry’s answer has been a multimillion dollar, multi-front battle to discredit and defang the bureau, a war declared even before the enemy officially existed. Attacking the CFPB has become a growth industry in Washington. Hyperbolic, relentless, often scorchingly personal — it’s a campaign that more often than not resembles a street fight. Now the agency is vulnerable and soon to be in the hands of a Trump appointee.

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Senate plan helps banks, not the economy

Senate Banking Chairman Mike Crapo (R-Idaho) released the text of bipartisan “Economic Growth” legislation, which rolls back valuable fair lending requirements and protections from the dangerous banking practices that led to the 2008 financial crisis.

“This legislation will grow economic inequality rather than our economy, as its name suggests” said John Taylor, President and CEO of the National Community Reinvestment Coalition. “In the midst of several financial scandals, politicians on both sides of the aisle have again proven that their allegiances to Wall Street far surpass their promises to Main Street.”

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House passes $5.5 trillion tax reform bill

“I am especially concerned by the new limitations placed on the housing sector in this tax reform, which will make it more difficult to expand our supply of affordable housing in the midst of a housing crisis. If the Senate cannot stop this terrible legislation, then they need to find another job,” said John Taylor, NCRC’s President and CEO.

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