A new approach to bank ratings would generate billions more for neighborhoods reeling from the pandemic
This white paper describes NCRC’s suggested rating system and discusses our forecasts of increased dollars for LMI neighborhoods.
NCRC condemns CFPB move to gut payday loan restrictions
Today, the Consumer Financial Protection Bureau (CFPB) issued a small-dollar loan final rule that will strip away protections that had been the hallmark of the original 2017 rule.
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Are All Americans Equal?
Most people are aware of the ongoing economic inequality suffered by the majority of Americans and disproportionately for African Americans. African Americans’ net wealth in the U.S. is 1/10 of that of their fellow White citizens. The COVID–19 virus, the current economic recession and national protests have made many of us think deeper about whether
Are All Americans Equal? Read More »
Advancing Corporate Commitment to Racial Economic Justice
Corporations across the country are pledging action and millions of dollars of investment into “racial justice” causes, yet there has been very little movement in one of the easiest areas to make advancement: racial and ethnic representation and procurement by corporations.
Advancing Corporate Commitment to Racial Economic Justice Read More »
Young scholar starts at the intersection of residential segregation and health
As a 16 year old Gen Z scholar from Long Island, Perrino chose to study the health impacts of government sanctioned segregation for a project in her science research course.
Young scholar starts at the intersection of residential segregation and health Read More »
“Redlining” and health indicators: Decisions made 80 years ago have health consequences today
The consequences of redlining are often thought of in terms of economic opportunity and segregation, but these consequences extend far beyond the boundaries of socioeconomic inequality and into the realm of health disparities.
Trump threatens to “end” an anti-segregation rule that’s already crumbling under his administration
In a tweet yesterday, President Trump threatened a vital piece of the 1968 Fair Housing Act (FHA). The 2015 Affirmatively Furthering Fair Housing (AFFH) rule finally addressed and strengthened the FHA requirement that the government do something to end housing discrimination and segregation.
Climatewire: Disaster loans foster disparities in Black communities
“Part of their overall function as a government agency is to promote minority entrepreneurship. You’d think under all their programs they’d want to know the basic demography of their borrowers,” said Bruce Mitchell, a senior research analyst at the National Community Reinvestment Coalition.
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Philanthropy News Digest: White supremacy is the pre-existing condition: eight solutions to ensure economic recovery reduces the racial wealth gap
The impacts of the COVID-19 pandemic have exacerbated the concentration of wealth in the United States, and emergency measures as well as structural change are urgently needed to address the widening racial wealth gap, a report from Inequality.org, a project of the Institute for Policy Studies, and the National Community Reinvestment Coalition, argues.
Roll Call: House rejects OCC change to bank discrimination rule
Even if the joint resolution dies in the Senate as expected, the rule change won’t be completely in the clear: The National Community Reinvestment Coalition is suing to block it, saying the OCC didn’t provide enough consideration to public feedback.
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The Monroe News: First Merchants unveils community benefits plan
“This commitment provides (the bank) an opportunity to increase its Community Reinvestment Act activity, and to redirect it to where it is needed most,” said Jesse Van Tol, NRCR CEO. “This is how the (act) should work.”
The Monroe News: First Merchants unveils community benefits plan Read More »
Washington Post: What Racial Inequality Means When You Go to the Bank
According to a 2018 study by the National Community Reinvestment Coalition, the economic and racial segregation caused by redlining persists today: 74% of the neighborhoods the federal government deemed “hazardous” to lend to nearly a century ago are low to moderate income today, and 64% of them are minority neighborhoods.
Washington Post: What Racial Inequality Means When You Go to the Bank Read More »
The Economist: African-American businesses need more than “buy black” campaigns
A “mystery shopper” test at 32 bank branches in Los Angeles, carried out by the National Community Reinvestment Coalition, a membership organisation for small businesses, found white customers were given subtly better customer service—for example, being told more about available products and their costs. Black applicants were asked to provide more information.
The Economist: African-American businesses need more than “buy black” campaigns Read More »
Medium: “The Playing Field is Not Level:” Support for Black-Owned Businesses in the East Bay
The National Community Reinvestment Coalition (NCRC), found a racial disparity and bias in small business lending from banks in their 2008–2016 study, leaving minority business owners more vulnerable to the already economically devastating pandemic by having less access to credit and funding.
Banking Dive: Community groups sue OCC over anti-redlining revamp
The National Community Reinvestment Coalition (NCRC) and the California Reinvestment Coalition (CRC) filed a lawsuit against the Office of the Comptroller of the Currency (OCC) on Thursday over its revamp of the Community Reinvestment Act (CRA), a 1977 anti-redlining law that governs lending in low-income neighborhoods.
Banking Dive: Community groups sue OCC over anti-redlining revamp Read More »