In the News

Three out of every four neighborhoods that were redlined in the 1930s still struggle today, according to a 2018 study by the National Community Reinvestment Coalition.

A study conducted by the National Community Reinvestment Coalition in July found that Black business owners had a harder time securing coronavirus financial relief than white business owners.

A recent study by the National Community Reinvestment Coalition found a higher prevalence of Covid risk factors in neighborhoods historically subject to “redlining,” a practice of denying mortgages and other services to people in certain areas, largely based on race.

JPMorgan Chase “stands out to me in being a little ahead of the game,” compared with other firms, says Dedrick Asante-Muhammad, chief of race, wealth, and community at the National Community Reinvestment Coalition in Washington.

We are excited and proud to feature the following contributors in this series:..Anneliese Lederer, National Community Reinvestment Coalition

The Race and Ethnic Representation and Investment (RERI) framework, released by the National Community Reinvestment Coalition (NCRC), outlines a grading scale banks can use to measure their internal representation of different races and ethnicities.

n Wayne County, which includes Detroit, census tracts where more than half of the people are minorities contain 26% of the county’s bank branches while housing 45% of the county population, according to the National Community Reinvestment Coalition, a nonprofit focused on community wealth-building.

Industry critics say that reflects the need for banking agencies to toughen CRA standards. Bank examiners should expect the institutions they oversee to make strong commitments to help underserved communities during the pandemic, suggested Josh Silver, a senior adviser at the National Community Reinvestment Coalition, which focuses on ending discrimination in lending.

Sabrina Terry is the Director of Strategy and Development at the National Community Reinvestment Coalition, Jason Richardson is Director of Research at the National Community Reinvestment Coalition.

The OCC also addressed concerns that the National Community Reinvestment Coalition, acommunity advocacy organization, raised about SoFi’s plan for compliance with the low-incomelending requirements of the Community Reinvestment Act. While a comment letter signed by NCRC and other community groups had argued that this plan was insufficiently comprehensive,the agency said it “does not expect a bank to have a fully developed plan at this stage.”

n Wayne County, which includes Detroit, census tracts where more than half of the people are minorities contain 26% of the county’s bank branches while housing 45% of the county population, according to the National Community Reinvestment Coalition, a nonprofit focused on community wealth-building.

It’s hard to live in any lower-income neighborhood that is adjacent to or within a major city without being faced with the prospect of gentrification. According to the National Community Reinvestment Coalition, New York had one of the highest rates of gentrification and displaced black Americans between 2000 and 2013. Higher rents and property taxes—the hallmarks of gentrification—continue to price many Black and Latino people out of their neighborhoods.

A 2018 study by the National Community Reinvestment Coalition (NCRC) found that “while overt redlining is illegal today, having been prohibited under the Fair Housing Act of 1968, its enduring effect is still evident in the structure of U.S. cities.” Access to credit is “an underpinning of economic inclusion and wealth-building in the U.S.,” the report said.

Jesse Van Tol, CEO of the advocacy group National Community Reinvestment Coalition, has liaised with the Fed on CRA-related issues over the course of his 14 years with the organization. He notes that there has been a change in tone under the leadership of former Fed Chair Janet Yellen, and now Powell. “They are more focused than they ever have before on racial income inequality,” Van Tol told Yahoo Finance.