NCRC Hires Adam Rust as New Senior Policy Advisor on Digital Banking, Consumer Lending

The National Community Reinvestment Coalition has added a new senior policy advisor to its Membership and Policy team. 

Adam Rust will lead NCRC’s policy agenda in digital banking and consumer lending. He will also be a vital player in the organization’s primary mission to defend the Community Reinvestment Act.

Rust, based in North Carolina, was recently Director of Research at Reinvestment Partners, an advocacy and community development non-profit organization and NCRC member organization. He has authored numerous publications on consumer finance, payments, and mortgage lending and led a project to facilitate a socially-responsible enterprise that migrated over one thousand workers to FDIC-insured bank accounts.

“At a time when underserved neighborhoods and communities of color face so many challenges, we’re expanding our team to both understand and drive innovations in financial services,” said Jenn Jones, NCRC’s Chief of Membership and Policy. “Adam’s knowledge of fintechs and financial policy will help NCRC lead the movement for a Just Economy.”

“I am excited to join NCRC’s policy team at the forefront of the fight for a Just Economy,” Rust said.  “In my role as Senior Policy Advisor, I will build NCRC’s agenda for fintech and consumer credit. Digital banking presents the promise of convenience and speed, but I reject the idea that consumers have to accept compromises to their safety and security to use them. Although most fintech companies are generally much smaller than even a mid-sized bank, they represent the frontier of tomorrow’s economy, so now is the time to assert the needs of consumers into this marketplace.”

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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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