In the News

Shelterforce, March 24, 2022, Say It With Your Chest: Race Matters in Lending For decades, the federal Equal Credit Opportunity Act has allowed banks to offer special mortgage programs specifically for “disadvantaged” homebuyers. The law creates an exception to anti-discrimination rules so banks can boost their lending to people of color and other underserved groups […]

The Final Call, March 23, 2022, Redlining’s legacy endures as 45 million Americans breathe polluted air: Study More than half a century after the official end of discriminatory redlining, 45 million people across the United States—overwhelmingly in communities of color—are exposed to elevated levels of illness-inducing air pollution, a study published March 9 affirmed. Although redlining

Miami Herald, March 24, 2022, PPP loans were made to be forgiven. In heavily Black areas like South Florida, many aren’t Researchers at the National Community Reinvestment Coalition, which advocates for better financial and housing access for minorities and underserved groups, sent white and Black borrowers with similar financial profiles to banks to inquire about

Federal Reserve Bank of Richmond, March 2022, Revisiting the Community Reinvestment Act A key question was how to best define bank assessment areas so that they do not reflect illegal discrimination or arbitrarily exclude LMI census tracts. Some community advocates favor a broadening of assessment areas. “This is a huge area,” says Josh Silver of

The Center for Public Integrity, March 22, 2022, How can we close our racial wealth gap? The same dynamics play out in the credit-score system that affects our ability to get a loan or rent an apartment. “A credit score kind of bakes in the racial wealth divide to begin with,” said Jesse Van Tol,

American Banker, March 23, 2022, Why Truist is working on a new community investment pledge NCRC has been encouraging banks to renew their community benefit agreements “whether they are merging or not,” the group’s CEO, Jesse Van Tol, said in an email. “Several of our bank partners — including Truist — have proactively approached us

AL.com, March 22, 2022, What the Black homeownership gap looks like across Alabama What’s more concerning is the gap is widening. According to the 2020 National Community Reinvestment Coalition Home Mortgage Report, home loan originations to majority-minority neighborhoods declined to 18.5% in that year from 19.1% just two years prior. January 2022 data also shows

eMarketer, March 23, 2022, Philadelphia advances toward creating a public bank The study also pointed to a national trend of biased treatment of Black applicants: National Community Reinvestment Coalition reports show they received more questions than white borrowers with the same or fewer qualifications, and were given fewer details about products.

ABC 17 News, March 22, 2022, The Black homeownership gap in Kansas City According to the 2020 National Community Reinvestment Coalition Home Mortgage Report, home loan originations to majority-minority neighborhoods declined to 18.5% in that year from 19.1% just two years prior…According to the NCRC report data, a significant percentage of loan paperwork has lacked

VitalLaw, March 21, 2022, Advocacy groups ask Congress to hold hearing on Google’s crypto intentions A coalition of 17 national advocacy groups, including Better Markets, the National Community Reinvestment Coalition, and Public Citizen, has asked the House of Representatives Financial Services Committee to hold a hearing on Google’s plans to enter the cryptocurrency and digital

Business Wire, March 18, 2022, Manna Backs Proposed $10 million Black Homeownership Fund in Mayor Bowser’s FY 2023 DC Budget In 2014, Manna received national acclaim from the National Community Reinvestment Coalition (NCRC). NCRC awarded Manna the James Rouse Award for national achievement in a major US urban center. Over the past 40 years Manna

Yellowhammer News, March 20, 2022, Birmingham Mayor Woodfin, public-private partnership deliver affordable homeownership The ceremony was the culmination of an objective by Mayor Randall Woodfin to revitalize Birmingham communities through affordable homeownership. It was made possible by a $25 million public-private partnership between the city of Birmingham and the NCRC Housing Rehab Fund, also known

Al, March 17, 2022, Mayor Woodfin cuts ribbon on new homes in Ensley funded by American Rescue Plan The City of Birmingham and GROWTH signed a development deal that began with building 27 affordable new homes in the historic Belview Heights community of Birmingham, Alabama. “The City of Birmingham’s commitment to neighborhood revitalization remains strong,

Bham Now, March 17, 2022, GROWTH by NCRC is breaking ground + barriers through affordable housing This month, Birmingham, local Augustus Payne, is able to become a first-time homeowner after a $25M revitalization plan between GROWTH by NCRC and the City of Birmingham to provide affordable housing. Keep reading to find out exactly how this was able

The Birmingham Times, March 18, 2022, Birmingham Mayor Woodfin, public-private partnership deliver affordable homeownership Three new homeowners are looking forward to getting the keys to their homes after a ribbon-cutting Thursday at the newly developed Oak Hill area of Belview Heights in Ensley. The ceremony was the culmination of an objective by Mayor Randall Woodfin