AdvisorNews: House Financial Services Committee Issues Report on LGBTQ Business Equal Credit Enforcement & Investment Act
One organization that was awarded was the National Community Reinvestment Coalition
Links to media coverage of NCRC.
To request an interview with NCRC experts, send a note to: media@ncrc.org.
One organization that was awarded was the National Community Reinvestment Coalition
A report released recently draws attention to an under-utilized program that, if scaled up, could meet tremendous demand for greater homeownership opportunities and begin to repair the damage of racist policies that have created housing inequity for decades. The report, authored by the Chicago Area Fair Housing Alliance (CAFHA), draws on interviews, surveys, and administrative records focused on the relatively unknown public housing authority homeownership program that is embedded within the better-known housing choice voucher (formerly known as Section 8) program.
“We cannot stand by and allow algorithms to resurrect old biases in new packages, or introduce new forms of discrimination hidden in proprietary code.” —National Community Reinvestment Coalition CEO Jesse Van Tol, joining fintechs PayPal, Square and others in a call for more guidance on how AI should be used in lending.
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Last year, the advocacy group National Community Reinvestment Coalition raised concerns about this trend after tallying up more than 13,000 closures, or 14% of all branches, between 2008 and 2020. It issued a report that noted that such closures often disproportionately impact rural, low-income, and minority communities where few branches might have existed in the first place.
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Senator Cory Booker (D-NJ), along with Rep. Lisa Blunt Rochester (D-DE) and Rep. Steven Horsford (D-NV) recently re-introduced The Break the Cycle of Violence Act in the 117th Congress.
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Director of Fair Lending at National Community Reinvestment Coalition Anneliese Lederer said that there were certain barriers that caused the PPP loan disparity, including a lack of existing relationships with banks, banks discouraging Black and Latinx people from applying for loans, inequality in outreach and an initial rule that did not allow people with criminal records or who had defaulted on student loans to benefit from the PPP program.
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Disagreements over phrases like “systemic racism” can make it difficult for opposing sides to notice when they share common values.
The Christian Science Monitor: What Does Systemic Racism Mean to You? Read More »
Six fintech companies and the National Community Reinvestment Coalition are asking the Consumer Financial Protection Bureau to provide guidance on how to use artificial intelligence in lending decisions without running afoul of fair-lending laws.
American Banker: Fintechs Seek CFPB Guidance on Making AI-Based Lending Fair Read More »
The legislation was supported by a wide array of stakeholder and consumer protection groups including: a bipartisan group of 25 State Attorneys Generals, Americans for Financial Reform, the Conference of State Bank Supervisors, the Faith for Just Lending Coalition, Center for Responsible Lending, National Consumer Law Center (on behalf of its low-income clients), Consumer Federation of America, the Military Officers Association of America, the Leadership Conference on Civil and Human Rights, the National Association of Consumer Advocates, the National Association of Federally-Insured Credit Unions, Appleseed Foundation, Consumer Action, National Community Reinvestment Coalition, UnidosUS, U.S. PIRG, and the Woodstock Institute.
Just recently, Wells Fargo announced that it selected City First Enterprises, ECDC Enterprise Development Group, Latino Economic Development Center, National Community Reinvestment Coalition, Washington Area Community Investment Fund to join Local Initiatives Support Corporation D.C. to receive grants from the fund.
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The repeal is supported by various stakeholders and consumer protection groups, including a bipartisan group of 25 State Attorneys Generals, the Conference of State Bank Supervisors, the Faith for Just Lending Coalition, Center for Responsible Lending, National Consumer Law Center, Consumer Federation of America, the Military Officers Association of America, the Leadership Conference on Civil and Human Rights, the National Association of Consumer Advocates, the National Association of Federally-Insured Credit Unions, Appleseed Foundation, Consumer Action, National Community Reinvestment Coalition, UnidosUS, U.S. PIRG, and the Woodstock Institute.
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The city has partnered up with the NCRC Housing Rehab Fund, LLC (NCRC HRF), known as GROWTH by NCRC, for the Oak Hill project, a multi-million dollar development to help low to moderate-income families become homeowners.
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“What we found out with unlimited data is it’s still limited because they slow your internet down,” Wilson said.
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“That’s a smoking gun,” said John Taylor, a fair lending advocate and head of the National Community Reinvestment Coalition. The NCRC has assisted WFAA in analyzing government loan data throughout the Banking Below 30 investigation.
Birmingham has given a green light to a $25 million deal with a national nonprofit that will build affordable homes in a historic neighborhood.
Birmingham Business Journal: Nonprofit Investing $25M to Build Homes in Ensley Read More »