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The NCRC Housing Rehab Fund, LLC (NCRC HRF) announced today completion of phase one of the Franklin County affordable housing initiative designed to increase home ownership for low- and moderate-income Ohio residents.
I applaud President Biden for signing four executive orders today that will help advance the goal of racial equity. The order directing HUD to address the nation’s long history of systemic racism in housing is of particular importance to us. Acknowledging the federal government’s role in perpetuating segregation, including the lasting impacts of redlining, is essential to addressing America’s ever growing racial wealth divide.
The confirmation of Janet Yellen is an important first step on the road to economic recovery.
Senate Confirms Janet Yellen as Treasury Secretary Read More »
Jenn Jones, Chief of Membership and Policy at the National Community Reinvestment Coalition, today was appointed Chief of Staff at the U.S. Department of Housing and Urban Development (HUD).
NCRC executive Jenn Jones appointed chief of staff at HUD Read More »
Woodlawn Pointe Project in South Chicago’s Historical Neighborhood Designed to Help Reverse Long-Term Impacts of Discriminatory Redlining Practices
Congratulations to President Joe Biden and to Kamala Harris, who today achieved many firsts as Vice President of the United States: Black, South Asian, woman and mom.
The NCRC Housing Rehab Fund (GROWTH) and the Benedict-Allen Community Development Corporation today announced the completion of eight new affordable homes north of the Benedict College campus in downtown Columbia, South Carolina.
By using a different metric – loans per one thousand people – the National Community Reinvestment Coalition (NCRC) in a recent paper was able to identify smaller states and metropolitan areas that are underserved by traditional banks but are better served by branchless banks.
NCRC Recommends New Way to Establish CRA Assessment Areas for Branchless Banks Read More »
Today, the National Community Reinvestment Coalition (NCRC) announced a new $5 million grant program funded by Morgan Stanley to help its member organizations recover and rebuild from the coronavirus pandemic.Â
“Rohit Chopra will be a champion for fair lending and a renewed commitment to ending abusive practices in the financial market,” said NCRC CEO Jesse Van Tol.
The package represents a down payment for a just recovery that will prevent evictions, protect small businesses and provide additional direct payments to millions of families facing continued financial distress as a result of this global pandemic and economic crisis. The package also provides additional funding for Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs), lenders who can put capital to work in low-income communities and communities of color when and where they need it most.
This week, the Federal Deposit Insurance Corporation (FDIC) announced a final rule on industrial banks and industrial loan companies (ILCs), allowing nonbank parent companies to apply for and receive ILC charters, enabling these lenders to make loans across the country with narrow and insufficient community reinvestment obligations.
Yesterday, the National Community Reinvestment Coalition (NCRC) and 49 other community organizations responded to a Consumer Financial Protection Bureau (CFPB) proposal to move forward with a ten-year old requirement to collect application and approval data on loans made to small businesses — an important first step to preventing discrimination in loans made to woman-owned businesses and businesses owned by people of color.
There was a 5.13% loss of bank branches across the United States from 2017 through the third quarter of 2020, a new analysis found.Â
Bank branch closures continue at alarming pace Read More »
The government’s flawed COVID relief program underscored the need for equity in small business financing, and for stronger enforcement of fair lending laws.
PPP data shows loans flowed mostly to businesses in wealthy White communities Read More »
