Special Purpose Credit Programs Remain On Solid Legal Ground Despite Supreme Court’s Affirmative Action Decision
The Supreme Court’s recent affirmative action ruling is creating wider anxiety in the business community. Special Purpose Credit Programs are not in jeopardy.
Shelter Inflation, Black Unemployment and The Dual Competing Mandates of the Federal Reserve
Since March of 2022, the unemployment rate has stayed somewhere between 3.4% and 3.7%. The latest monthly report from the US Bureau of Labor Statistics (BLS) breaks this trend with the rate rising to 3.8%.
MISSED OPPORTUNITIES: Financial Institutions In New York City Discourage Prospective Small Business Applicants
NCRC conducted mystery shopper tests in 34 New York City bank branches to assess the state of small business lending after governments eased or eliminated most COVID-related business and personal behavior restrictions.
Report: New York Banks Treated White Small Business Owners Better Than Non-Whites
Minority-owned businesses and Black-owned businesses inquiring about small business loans faced racial discrimination in NCRC’s latest mystery-shopper test.
Video: Your Membership, Your Benefits: A Closer Look at NCRC Membership
Learn what resources, services, content, and networking opportunities your membership includes and how being a NCRC member can help you in your fight for a #JustEconomy. Members will share their tips for making the most of your membership and NCRC Membership staff will walk through NCRC’s newest member features.
Book Review: To Fight Segregation We Must First Build Community, Richard And Leah Rothstein Argue
A divided society can never be a harmonious one — so what can we do to fight segregation in our communities?
HEALTH EQUITY RESEARCH SPOTLIGHT: Medical Debt Makes People Live Sicker, Die Sooner
Owing someone money doesn’t just make a person’s life harder – it might also make it shorter, and it certainly makes it sicker.
Racial Wealth Snapshot: Asian Americans And The Racial Wealth Divide
Asian Americans are the fastest growing racial or ethnic group in the United States, and are predicted to be the nation’s largest immigrant group by 2050. Asian Americans are forecast to exceed the Hispanic share of the immigrant population and to make up 36% of all US immigrants by 2055.
NCRC To Banking Regulators: New Automated Valuation Model Technologies Must Not Affirm Historic Redlining
(Download) August 21, 2023 RE: Quality Control Standards for Automated Valuation Models: Docket ID OCC–2023–0002; FDIC RIN 3064–AE68; Federal Reserve Docket No. R–1807 and RIN No. 7100 AG60; Docket Number NCUA–2023–0019; FHFA RIN 2590–AA62; and CFPB–2023–0025 To Whom it May Concern: Thank you for the opportunity to comment on the use of automated valuation models
When Regulators Overhaul Bank Merger Rules, They Should Heed Key Lessons From NCRC’s Community Benefits Agreements
Biden officials want to strengthen bank merger review guidelines. Here’s what they can learn from NCRC’s work with banks.
SIXTY YEARS AFTER MLK’S ‘I HAVE A DREAM’ SPEECH, NEW REPORT PROJECTS OVER 500 YEARS TO ACHIEVE BLACK ECONOMIC EQUALITY
“STILL A DREAM: Over 500 Years to Black Economic Equality” Sixty years after Dr. Martin Luther King, Jr. gave his iconic “I Have a Dream” speech at the March on Washington for Jobs and Freedom, a new report lays bare the harsh reality of black economic inequality today in America. It reveals the sobering projection
STILL A DREAM: Over 500 Years To Black Economic Equality
A new report marks the 60th anniversary of the March on Washington with some sobering news — and some inspiring solutions.
DCWBC Women Entrepreneur Profile: Advanced Technology Solutions LLC
This is part of a series of profiles showcasing the talented entrepreneurs of NCRC’s DC Women’s Business Center. Advanced Technology Solutions LLC is a women-owned business started by Dionysianna Ala’ilima that provides IT consulting services. What kind of product or service do you sell? We provide IT consulting and field engineering services. Are you a
NCRC STATEMENT: Lawsuit Alleging KeyBank Misled Investors Should Not Surprise Anyone Who’s Paid Attention To The Bank’s Broken Promises To Communities
“The allegations in this new lawsuit…make me wonder: What else is KeyBank hiding?”
Victory: Figure Bank’s Withdrawn Charter Application Shows The Uninsured National Bank Idea Is Dead
Figure Bank’s decision to give up on seeking a charter for an uninsured national bank signals that fintechs are not going to be able to evade Community Reinvestment Act obligations.
Scholarship Opportunity: Become HUD Certified
Apply for a scholarship to attend NCRC’s in-person HUD Certification training August 14 to August 18, 2023, in Denver. To participate in the in-person training, attendees must apply for a scholarship. A new course from the National Community Reinvestment Coalition invites you to immerse yourself into the process of HUD housing counseling certification. The course,
Time to Change Bank Merger Reviews: NCRC Calls for New Rulemaking Process
(Download) July 31, 2023 The Honorable Martin Gruenberg Acting Chair of the Board The Federal Deposit Insurance Corporation 550 17th Street, NW Washington, D.C. 20429 The Honorable Michael Hsu Acting Comptroller of the Currency Office of the Comptroller of the Currency 400 7th Street, SW Washington, D.C. 20219 The Honorable Michael Barr Vice Chair for
NCRC STATEMENT: Figure Bank’s Decision To Abandon Pursuit Of A Federal Banking Charter Is Good News For Communities And Consumers
Figure Bank’s application for an OCC banking charter would have helped fintech companies crack the foundations of the Community Reinvestment Act.
Just Economy Regional: Mountain West Summit
Schedule Speaker Bios SPONSORS Main Menu Schedule Speaker Bios Sponsors JUST ECONOMY REGIONAL MOUNTAIN WEST summit REGISTER September 26-27 • Denver, Colorado JUST ECONOMY REGIONAL MOUNTAIN WEST summit REGISTER September 26-27 • Denver, Colorado Get A Fresh Perspective The summit will bring together housing and community development leaders; faith-based organizations and fair lending advocates; financial
Give A Warm Welcome To NCRC’s Newest Members
With more than 750 local, state and regional nonprofits, educational and faith-based institutions and government entities making up the National Community Reinvestment Coalitions’ (NCRC) 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 July were: If your organization
Letter to the FHFA on Tenant Protections for Enterprise-Backed Multifamily Properties
(Download) July 31, 2023 The Honorable Sandra Thompson Federal Housing Finance Agency Office of Multifamily Analytics and Policy 400 7th Street SW, 9th Floor Washington, D.C. 20219 RE: Federal Housing Finance Agency’s Request for Input on Multifamily Tenant Protections Dear Director Thompson: The National Community Reinvestment Coalition (NCRC) appreciates the opportunity to submit written comments to the
NCRC Statement On Latest Partisan Attack On CFPB’s Section 1071 Small Business Lending Rules
Small business owners deserve the clarity and confidence that the CFPB’s Section 1071 rules will bring to the market for small business loans.
Congressional Republicans Are Trying To Kill CFPB’s Section 1071 Small Business Lending Rules Before They Take Effect
Anyone who wants to build a more just economy should be aware of this tactic and ready to fight it – not just on Section 1071 but on other big pending reforms.
NCRC and Over 150 Organizations Unite in Support of Section 1071 of Dodd-Frank, Rejecting Congressional Repeal Efforts
(Download) July 25, 2023 The Honorable Patrick McHenry Chairman House Financial Services Committee 2134 Rayburn House Office Building Washington, DC 20515 The Honorable Sherrod Brown Chairman Senate Banking Committee 503 Hart Senate Office Building Washington, DC 20510 The Honorable Maxine Waters Ranking Member House Financial Services Committee 2221 Rayburn House Office Building Washington, DC 20515
How The Government’s New “FedNow” Immediate-Payment System Will Benefit Consumers And Banks Alike
The launch of FedNow marks a great accomplishment — But to realize the full potential of the faster payments system, more needs to be done.