On Our Radar

The New York Times, May 26, 2022, Gen Zers Are Buying Homes. Here’s Where They’re Looking. Rising mortgage rates and steep home prices have been particularly challenging for first-time buyers, especially young adults earning their first paychecks. Many are looking outside expensive metro areas to find more affordable homes in midsize cities, new research shows. […]

Reuters, May 25, 20222, Biden to issue police order on George Floyd death anniversary U.S. President Joe Biden will issue a broad executive order on Wednesday to reform federal and local policing on the second anniversary of the death of George Floyd, senior administration officials said. The order will direct all federal agencies to revise

CNN, May 23, 2022, Black buyers are getting squeezed out of the hot housing market The market is pricing out first-time homebuyers of all backgrounds, but Black buyers face even bigger barriers. Black applicants were denied home loans at a much higher rate than other groups, according to a Zillow analysis of data from the

NPR, May 23, 2022, Buffalo plagued by economic neglect, segregation long before shooting, residents say Buffalo is one of the most economically stunted cities in the nation. It is also one of the most segregated. A 2018 study from Buffalo’s Partnership for the Public Good described a wide, and growing, racial and socioeconomic chasm within

The Guardian, May 24, 2022, Baby formula shortage highlights inequality in US maternal support A little less than three-quarters of Black American and 76% of Native American and Alaska Native mothers initiate breastfeeding – rates lower than the national average. The reasons are complex, ranging from a lack of support from the beginning of a

American Banker, May 18, 2022, 5 states blazing new trails in financial services policy As Congress remains stalled on a wide range of issues, from cannabis banking to overdraft fees, some of the action has shifted to the states, where legislative dominance by one political party often makes it easier to enact change. In some

The Wall Street Journal, May 22, 2022, Small Businesses Lose Confidence in U.S. Economy Small businesses are flashing warning signs on the U.S. economy as inflation, supply-chain snarls, a shortage of workers and rising interest rates darken the outlook for entrepreneurs. Fifty-seven percent of small-business owners expect economic conditions in the U.S. to worsen in

Bloomberg, May 20, 2022, Black Caucus Ups Pressure on Biden to Cancel Student Debt “This is a crisis created through policy decisions, and we have a responsibility to address it head-on,” Black Caucus Chair Joyce Beatty said in a statement Friday. “Canceling student loan debt is one of the most impactful ways to address ongoing

Business Insider, May 21, 2022, A 36-year-old chess prodigy built a software to speedily buy homes from afar for big investors, beating out everyday buyers. Now he’s Atlanta’s top broker. A.J. Steigman sold more houses in Atlanta last year than any other broker — despite the fact that he lives in Florida and has no

CNN, May 23, 2022, A new billionaire has been minted nearly every day during the pandemic Much of the jump in wealth came in the first year of the pandemic. It then plateaued and has since dropped a bit, said Max Lawson, head of inequality policy at Oxfam. At the same time, Covid-19, growing inequality

The Wall Street Journal, May 18, 2022, Billions in School Covid-Relief Funds Remain Unspent U.S. school districts are struggling to spend billions of dollars in federal pandemic-relief money before the funding expires. Districts have yet to spend 93% of $122 billion sunk into the K-12 education system last year as part of the $1.9 trillion American

American Banker, May 18, 2022, Goldman Sachs report shows bank is losing senior Black women Goldman Sachs Group is losing its most powerful Black women, according to new data the firm released in a report on its website. The bank had 19 Black women among its executives and senior officials as of November 2021, the bank said,

The Wall Street Journal, May 18, 2022, Fed Nominee Michael Barr Has Pressed to Reverse Trump-Era Banking Policies Former Treasury Department official Michael Barr is expected to pursue tougher oversight of the financial system and reverse some Trump-era policies if he wins confirmation as the Federal Reserve’s top bank regulator. Mr. Barr, who worked in

The New York Times, May 18, 2022, US Soccer and Top Players Agree to Guarantee Equal Pay For the first time, soccer players representing the United States men’s and women’s national teams will receive the same pay and prize money, including at World Cups, under landmark agreements with the U.S. Soccer Federation that will end

American Banker, May 17, 2022, FDIC, CFPB target crypto firms that make false claims of deposit insurance The Federal Deposit Insurance Corp. adopted a rule Tuesday that outlines its authority to prohibit individuals and organizations from making misrepresentations about deposit insurance, or misusing the FDIC’s name or logo. Following the meeting, the Consumer Financial Protection Bureau