Entrepreneurship is not a successful venture without the right tools. One of these tools is access to credit – the money needed to start a business, expand or deal with ebbs and flows in revenue.
The following are principles of reform; if the agencies contradict or contravene these principles, we will oppose any additional regulatory changes just as we have opposed the OCC final rule. Reforming CRA must not become a pretext for relaxing CRA.
Principles for CRA Reform: Strengthen Communities, Exams and Accountability Read More »
In a previous article, I described how some big issues on reforming the Community Reinvestment Act (CRA) exposed a considerable difference of views among community groups and the banking industry. However, there was some convergence of views on a series of other important issues, including performance measures and ratings categories. On these issues, the remaining differences appear to be manageable.Â
Federal Reserve Board Chair Jerome Powell, U.S. Senators Elizabeth Warren and Sherrod Brown, and Pulitzer Prize-winning journalist Nikole Hannah-Jones will be featured speakers at the 2021 Just Economy Conference, which will be held online beginning May 3.
Overrepresentation in consumer-facing jobs, poverty and lack of wealth are all aspects that put women of color in high levels of physical and financial danger during the COVID-19 pandemic.Â
Women of Color, Wealth and COVID-19 Read More »
Over the coming weeks, we’ll publish essays from NCRC staff, members, local leaders and national partners who can give a voice to the concerns, issues and solutions for women, specifically Black, indigenous and women of color, who have been living through and managing this health and economic crisis for the past year.Â
This month, we celebrate the stories of women entrepreneurs in D.C. A rich entrepreneurial environment and small business assistance organizations contribute to their success, but the real story begins with the women who set out to solve problems.
Celebrating Women’s History Month With 30 Women Founders in Washington, D.C. Read More »
When banks promote outreach to marginalized groups, while granting loans to organizations that openly discriminate against these same groups, it sends a mixed message to their communities. These messages can be avoided with proper research.
Banks Shouldn’t finance LGBTQ+ discrimination Read More »
From 2012-2018, big banks got bigger, and 8,872 local branches closed. But in most counties, small business lending was still dominated by banks with branches within the community.
Reading the comment letters from industry and community groups regarding the Federal Reserve Board’s (board) Advanced Notice of Proposed Rulemaking on the Community Reinvestment Act (CRA), I am reminded of the childhood tale of the “Little Engine that Could,”
The National Community Reinvestment Coalition has hired Juan Leyton as Director of Organizing. He will lead teams responsible for local campaigns and collaborations with NCRC members in communities nationwide.
NCRC Hires Juan Leyton as New Director of Organizing Read More »
The new tool will be available to the general public for a month, then become an exclusive service for NCRC members.
NCRC launches interactive tool to explore local lending patterns Read More »
Today, the U.S. House of Representatives passed the American Rescue Plan – the new $1.9 trillion stimulus package passed earlier this week in the Senate, and championed by President Biden, who is expected to sign the bill Friday.
NCRC applauds passage of the American Rescue Plan Read More »
Today, the U.S. Senate confirmed Marcia L. Fudge as Secretary of the U.S. Department of Housing and Urban Development (HUD).
NCRC Applauds Confirmation of Marcia L. Fudge to Head of HUD Read More »
Today, the Consumer Financial Protection Bureau (CFPB) announced that the principles from the landmark U.S. Supreme Court case Bostock v. Clayton County that provide protection against discrimination based on sexual orientation or gender identity also apply to the Equal Credit Opportunity Act (ECOA).
