In the News

Money Scoop, July 27, 2023, Too little, too late Also worth noting: The National Community Reinvestment Coalition found that there is a major gender wealth disparity among Black adults in the US, even though both Black men and Black women have significantly lower median wealth than their white counterparts. For context, single white men have a […]

WortFM, July 26, 2023, Repairing The Racial Wealth Inequality Divide Chief of Race, Wealth and Community for the National Community Reinvestment Coalition, Dedrick Asante-Muhammad talks about the foundations of wealth inequality from when early settlers needed cheap labor, thus creating racial inequality to justify enslavement of workers. His recent report, “From Affirmative Action To Reparations:

Housing Wire, July 26, 2023, Homelessness is not an unsolvable problem While many people think mental health issues are a main driver of homelessness, Marisa Calderon, chief of community finance and mobility at the National Community Reinvestment Coalition and executive director at the NCRC Community Development Fund, said in an interview with HousingWire that homelessness is increasingly

NonProfit Quarterly, July 26, 2023, Containing Gentrification: A Story from the Nation’s Capital Gentrification is a complex and sensitive issue facing residents in many US cities. In Washington, DC, the gentrification process has been extraordinarily pronounced—with metro neighborhoods showing among the greatest level of resident displacement of any US city. A 2019 study by NCRC found that between

Social Policy, July 21, 2023, Community Benefits Agreements at the Forefront of Anti-Gentrification Initiatives If gentrification is the bogeyman in today’s community development advocacy circles, community benefit agreements (CBAs) appear to be the elixir, or at least one of them. Gentrification, of course, is little more than the current name for a process of uneven

Orlando Business Journal, July 14, 2023, Bank of America sells closed branch in Orlando as news breaks of national $250M payout Bank of America has sold one of its closed branches in south Orlando. The Charlotte, North Carolina-based bank (NYSE: BAC) sold a 3.67-acre property with a 6,331-square-foot branch at 2293 W. Sand Lake Road

Gothamist, July 10, 2023, What if NYC had its own public bank? There are billions of reasons to consider it, report says. New York City is missing out on thousands of new affordable apartments and billions of dollars in local investments without a publicly owned bank to deposit its cash, according to an analysis by

The Epoch Times, July 7, 2023, IN-DEPTH: Bank Branch Closures Leave Vacant Buildings, Inconvenienced Customers 9 percent of all branch locations in the United States closed between 2017 and 2021, according to a report (pdf) by the National Community Reinvestment Coalition (NCRC). It amounts to a loss of about 7,500 brick-and-mortar locations. The branch closure

Orlando Business Journal, July 4, 2023, These banks have closed the most Central Florida branches so far this year the National Community Reinvestment Coalition tracked over 9,882 bank branches that have closed nationwide over the past five years, including 2,457 bank branches during 2021-22. Why this matters:Banks have changed how they approach branches as more

American Banker, June 21, 2023, Santander US unveils three-year community benefits plan Santander US committed $13.6 billion this week to community reinvestment and sustainable finance initiatives. The bank’s community benefits plan was developed in partnership with the National Community Reinvestment Coalition and more than 30 local organizations. It was not created in connection with efforts

American Banker, June 12, 2023, PayPal swoops into lending markets that banks abandoned PayPal and its rivals may be targeting areas previously served by community banks, but large banks have also been deemphasizing branches. Bank branches in general have had a net decline from more than 100,000 in 2009 to about 80,000 in 2022. And Self Financial reports that branches are

Bloomberg, June 12, 2023, Reforms to Home Appraisal Bias Target Algorithms and Tech National Community Reinvestment Coalition President Jesse Van Tol said in a press statement that the new AVM rule was “welcome news.” “As the financial industry experiments with powerful tools at the bleeding edge of technology’s new reach, our government has a duty