The Economic Reality of Asian Americans, Including Intragroup Differences
Demystifying blanket assumptions regarding the economic status of Asian Americans is key in understanding the large disparities that live within the group, and can help reduce intra-group inequalities.Â
New HMDA Data Reveals Racial Disparities in Older Adult Lending
NCRC’s new report, Mortgages and Older Adults After COVID-19, used this new information to highlight trends in homebuying, aging in place and use of home equity.
Racial Wealth Snapshot: Asian Americans and the Racial Wealth Divide
Download Infographic Introduction Asian Americans are the fastest growing racial group in the United States, and are predicted to be the nation’s largest immigrant group in 50 years.[1] Asian American is a racial category that includes Americans who are from or whose relatives are from a diverse group of countries: China, Korea, Japan, India, Pakistan,
Racial Health and Economic Disparities are Two Sides of the Same Coin
COVID-19 continues to aggravate deeply embedded inequalities. We need bold policy solutions aimed at bridging the racial wealth divide now more than ever.
Senate Banking Committee Highlights CRA in Oversight Hearing of Federal Banking Regulators
Members of the Senate Banking Committee today questioned why, in the middle of the COVID-19 crisis, bank regulators are moving forward with proposed changes to the Community Reinvestment Act (CRA) that would cripple COVID-19 recovery efforts in low- and moderate-income communities and communities of color.
Retired or Working, Coronavirus Likely to Doubly Hit Older Americans
COVID-19 is more likely to harm elderly adults. They are also more vulnerable to the economic downturn brought on by the pandemic. In an April data brief, the National Council on Aging (NCOA) studied wealth and income data on adults above the age of 60 throughout the Great Recession. The brief found significant correlations between
NCRC Urges Senate Committee to Pressure OCC, FDIC to Drop Proposed Changes to CRA
On Tuesday, May 12, 2020, the Senate Committee on Banking, Housing and Urban Affairs is scheduled to conduct a virtual hearing on the oversight of financial regulators, with testimony from Office of the Comptroller of Currency’s (OCC) Comptroller Joseph Otting and Federal Deposit Insurance Corporation Chairman Jelena McWilliams.
Mortgages and Older Adults after COVID-19
Key Findings 30% of mortgages in 2018 went to older adults. 67% of older adults who took out mortgages were refinancing their homes and 68% of those used the mortgage to access the equity in their homes. Older borrowers were Whiter than younger borrowers. As with younger borrowers, there are racial disparities in interest rates
How Participatory Budgeting can create affordable housing and a just economy
Participatory budgeting (PB) is a democratic process in which community members decide together how to spend part of a public budget.
Our Interconnected Health: Part 2
Given the connections between health and other sectors outlined in Part 1, multi-sector community partnerships and cross-sector policy efforts are key – both to addressing the spread of COVID-19 and its far-reaching consequences, as well as to improving the health of individuals and communities more broadly.Â
Celebrating Older Americans Month During COVID-19
When president John F. Kennedy designated the month of May as the first Older Americans Month in 1963 (originally called Senior Citizens Month), many older adults across the country lived in poverty, which was partly the impetus for the designation. Additionally, the designation sought to bring awareness to the needs and supports for the well-being
Universities: Don’t leave your students behind
In the wake of the current public health crisis, universities have a responsibility to ensure that every student is housing-secure after losing access to on-campus housing.Â
Our Interconnected Health: Part 1
COVID-19 has thrown many things we in public health have long been working on into stark relief for a broader audience: the importance of sufficient public health funding; the role of our physical and social surroundings in determining our health; how policies, systems and environments contribute to health inequities; and (perhaps the most visceral realization) how interconnected we all are – as individuals, communities, organizations and sectors – when it comes to health and well-being.Â
NCRC comment on OCC licensing and merger applications
April 28, 2020 RE: Docket ID OCC-2019-0024 To Whom it May Concern: The National Community Reinvestment Coalition (NCRC), an association of 600 community-based organizations dedicated to increasing access to affordable and safe banking products in traditionally underserved communities, opposes the Office of the Comptroller of the Currency’s (OCC’s) proposed changes to its licensing manual that describes procedures
How Will CRA Resources be Targeted to Fight COVID-19?
If the agencies do not clarify who can benefit, bank activities under CRA may not end up focused on low- and moderate-income (LMI) communities, including communities of color devastated by COVID-19. Â
CFPB, FHFA Establish New Borrower Protection Program to Respond to COVID-19 Pandemic
This month, the Consumer Financial Protection Bureau (CFPB) and the Federal Housing Finance Agency (FHFA) announced the new Borrower Protection Program that streamlines consumer protection oversight of mortgage servicers through new data and information sharing between the program sponsors as they respond to the coronavirus pandemic.
Blen Tilahun
Staff Accountant btilahun@ncrc.org 202.383.7701
Mental Health, Financial Health and Banking During COVID-19
Dealing with the current global pandemic isn’t easy for anyone, but for people with mental illness, who are more likely than others to be poor and struggling financially, it is likely even harder.
NCRC: The New CARES Act Doesn’t Care Enough
Today, the House of Representatives joined the Senate and passed a $484 billion emergency relief bill, including a $321 billion infusion for the Paycheck Protection Program, the small business rescue fund that ran out of money last week.
When Americans Need Safe Shelter The Most, Some Will Be Turned Away Because Of Their Gender Identity
The COVID-19 crisis has increased America’s already considerable need for safe, accessible shelters. So this seems as good a time as any to point out that many domestic violence shelters and homeless shelters will flat-out reject potential residents for being transgender and/or non-binary – or place them in separate, isolated housing.
Zo Amani
CRA Coordinator zamani@ncrc.org 202-464-2726 Zo Amani is the CRA Coordinator at NCRC. Prior to joining NCRC, Zo worked at the Board of Governors of the Federal Reserve System, where he supported the Board’s HR analytics and workforce planning functions. Additionally, he provided policy support for the Board’s Community Reinvestment Act modernization efforts and volunteered with
Comments on Proposed CRA Rule: Pause and Go Back to Drawing Board
An update is needed but not one that is hastily implemented and would weaken the law in a misguided effort to simplify and clarify CRA rules.Â
NCRC, Prosperity Now Call on Congress, Trump Administration for Additional Relief Efforts
Even as the Trump Administration and Congress take important but limited steps in a fourth stimulus bill to replenish funding for the Payroll Protection Program, much more must be on the table in the coming weeks for U.S. households, including homeowners, renters and the nation’s smallest enterprises, to not only prop up the U.S. economy but to ensure a reasonable economic recovery.
NCRC Applauds Senate for Passage of Second PPP bill
Yesterday, the Senate passed a second Payment Protection Program (PPP) bill that will provide an additional $484 billion for small business aid, hospital funding and more testing for COVID-19.Â
CFPB Provides Advice, Guidance on COVID-19 Resources
In a confusing and scary time, the CFPB is a source for unbiased and informed information on a variety of financial hurdles that families can expect to face in the coming months.