NCRC urges emergency support for mortgage servicers

The Honorable Steven Mnuchin Secretary U.S. Department of the Treasury 1500 Pennsylvania Avenue NW Washington, D.C. 20220 The Honorable Jerome H. Powell Chairman Board of Governors of the Federal Reserve System 20th Street NW & Constitution Avenue NW Washington, D.C. 20551 The Honorable Jelena McWilliams Chairman Federal Deposit Insurance Corporation 550 17th Street NW Washington, […]

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Markets dominated by large banks see small number of PPP loans

Markets dominated by large banks see small number of PPP loans Last update: April 20,2020 In states where community banks (deposits of $10 billion or less) held more deposits, businesses were more likely to receive Payroll Protection Program (PPP) loan funding.  In states where larger banks dominated the market, businesses received fewer PPP loans and

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Removal of the Affirmatively Furthering Fair Housing Rule, COVID-19 and the Dangers to the Lives of African Americans

The poor implementation of affirmatively furthering fair housing (AFFH) has taken a significant toll on the health of African Americans. Therefore, we need to make communities equal to allow all Americans to have a healthy life and a chance to survive after this.

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Italy Enters Phase 2 of the COVID-19 Response – What Does this Mean for Social Determinants of Health?

Multiple measures in the enormous “Cure Italy” bill, including earning supplements and unemployment benefits for all workers, even the self-employed, special funds for businesses, babysitting vouchers and parental leave for those with young children, tax, loan and mortgage delays, a freeze on firings and emergency nutrition funds for citizens, will be in place until August.

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In Response to Groups’ Demand, OCC Releases Log of Comptroller Otting’s Calls With Bank Execs on Gutting of Anti-Redlining Rules

Administration Filed Log on the Last Day of the CRA Comment Period, Continues to Withhold Key Details and Substance of Communications from the Public. Democracy Forward, Community Development Orgs Call Out OCC’s Hollow Claims to Accountability, File Request for Full Records.

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Yahoo Finance: Philanthropic Leaders Call on Regulators to Delay Changes to the Community Reinvestment Act Amid Coronavirus Pandemic

Presidents’ Council on Impact Investing asks regulators to “immediately suspend efforts that could severely undermine the CRA and rob communities of desperately needed support”

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The Kresge Foundation: Mission, Money & Markets: Changes to Little-Known Banking Law Could Suck Billions Out of Poorer Communities

There is no doubt that the rule changes proposed by the government would diminish the effectiveness of a law that was desperately needed when it was enacted and which remains essential to ensure banks meet the credit needs of all communities where they take deposits, not just the wealthy ones.

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NBC News: Gender Economist Katica Roy: If We Don’t Act Fast, Women Will Bear the Brunt of the Financial Crisis Caused By Coronavirus

Nationally, 71% of households with children rely on women’s income for their economic well-being. The wage gap puts them at an even greater disadvantage when financial crises hit, says Roy in this op/ed.

NBC News: Gender Economist Katica Roy: If We Don’t Act Fast, Women Will Bear the Brunt of the Financial Crisis Caused By Coronavirus Read More »

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