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CUToday: NAFCU Joins With Other Groups in Raising Concerns Over GSEs’ Preferred Stock Purchase Agreements

CUToday, April 7, 2021,  NAFCU Joins With Other Groups in Raising Concerns Over GSEs’ Preferred Stock Purchase Agreements

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).

In addition to NAFCU, the letter was signed by the Community Home Lenders Association, the Leadership Conference on Civil and Human Rights, the Independent Community Bankers of America, the National Community Reinvestment Coalition, the Community Mortgage Lenders of America, and the America’s Homeowner Alliance.

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Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

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