In the News

Learn to budget for a home and repairs so you have some money left over

With over half of American adults now at least partially vaccinated, many of us are beginning to imagine a future beyond the pandemic. But for the many small businesses that didn’t survive, there’s no “after.”

Last week Unites States Senators reintroduced the American Housing and Economic Mobility Act to help bring down costs for renters and buyers, level the playing field so working families everywhere can find a decent place to live at a decent price, reduce exclusionary zoning laws, and take a step towards addressing the effects of decades of housing discrimination on communities of color.

A report released by the Department of Metropolitan Development and a national nonprofit recommends the city enact policies such as making the new rent assistance program permanent and supporting the development of community land trusts to prevent displacement.

The Black-white wealth gap has widened over the past decade-plus: The typical Black household currently has less than a quarter (23.3%) of the wealth of a typical white household, down from more than a third (34.6%) before the Great Recession.

“You can’t call it anything but redlining: public sector reinforcing private-sector discrimination.”

The OCC today granted conditional approval for a national trust bank charter to New York-based Paxos National Trust. Paxos—a cryptocurrency firm that proposed to provide “a range of services associated with digital assets” including custody services—will operate as an non-depository trust bank.

The move toward expanded digital services, pressures arising from the pandemic and a desire to cut costs has led to thousands of bank branches to close on both sides of the Atlantic, a pattern that seems irreversible to many observers.

Bicameral Legislation Would Produce Nearly 3 Million New Housing Units, Reduce Rents by 10% with No Deficit Impact; Bill Marks Important Step to Address the Racial Wealth Gap and Reduce Exclusionary Zoning Laws

A 2019 report by the National Community Reinvestment Coalition identified Washington as the nation’s most intensely gentrified city between the years 2000 and 2013, finding at least 20,000 Black residents had been displaced.

NAFCU has joined with several other trade groups in repeating concerns to the Treasury Department and Federal Housing Finance Agency (FHFA) over recent amendments to the government-sponsored enterprises’ (GSEs) Preferred Stock Purchase Agreements (PSPAs).

Andy Hill discovered he was house poor soon after he bought his first home in 2004.

A District of Columbia federal judge now has arguments from both sides in the dispute over whether a new rule changing how mortgage data is collected is “arbitrary and capricious.”

Set against the backdrop of 1950s Los Angeles, the first season of THEM, subtitled Covenant, examines the impact of discriminatory housing practices like restrictive covenants and redlining that actively shut out minority communities from majority-white areas.

ABA Banking Journal, January 19,2021, Your Fair and Responsible Banking Program in 2021 and Beyond Here are ways for compliance professionals to promote equity and financial inclusion while building a robust fair lending program and demonstrating compliance. In July 2020, a study was released by the National Community Reinvestment Coalition regarding Paycheck Protection Program loans that