The government’s flawed COVID relief program underscored the need for equity in small business financing, and for stronger enforcement of fair lending laws.
PPP data shows loans flowed mostly to businesses in wealthy White communities Read More »
The government’s flawed COVID relief program underscored the need for equity in small business financing, and for stronger enforcement of fair lending laws.
NCRC Paycheck Protection Plan Preliminary Analysis Read More »
As the pandemic continues, the challenges small businesses and entrepreneurs face are heightened. Adjusting to a new normal proves to be most challenging for minority-owned businesses.
What do women entrepreneurs need in today’s business climate? Read More »
Yesterday, the Office of the Comptroller of the Currency (OCC) released a proposed rule for establishing the Community Reinvestment Act (CRA) evaluation measure thresholds, retail lending distribution test thresholds, and community development minimums under the general performance standards set forth in the agency’s 2020 final rule.
NCRC statement on OCC’s Proposed CRA Thresholds Read More »
Latino borrowers paid substantially higher closing costs and interest rates for home purchase loans compared to non-Hispanic White borrowers, according to a new report from the National Community Reinvestment Coalition (NCRC) and UnidosUS.
Home lending data reveals discrepancies in Latino mortgage lending Read More »
On Wednesday, the Federal Housing Finance Agency (FHFA) released a final Capital rule for the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. The rule requires the GSEs to maintain tier 1 capital in excess of 4%.
NCRC statement on FHFA final rule for Enterprise (GSEs) Regulatory Capital Framework Read More »
Despite published evidence and widespread media coverage of discrimination in the Paycheck Protection Program (PPP) bank loan application process, a second round of tests over the summer showed discrimination continued.
More tests and more signs of discrimination in PPP lending by banks Read More »
Minority-owned businesses are vital to economic growth, but discriminatory lending hinders access to credit.
Small Businesses of Color Matter Too Read More »
The pandemic has triggered the start of what might become a new round of “white flight” in some of the highest cost cities.
COVID-19 is speeding up white flight: Now is the time to invest in affordable housing Read More »
Some bank executives claim a limited pool of Black talent to recruit from, but the problem is in large part due to insular recruitment practices.
Why BLM Solidarity Requires Banks To Address Diversity And Inclusion Issues Read More »
On Tuesday, the Office of the Comptroller of the Currency (OCC) granted a conditional approval to Social Finance, Inc. to create a nationally chartered bank called SoFi Bank despite opposition from national community groups, including the National Community Reinvestment Coalition (NCRC).
OCC grants preliminary charter application for Social Finance, Inc., despite opposition Read More »
In a final rule issued Tuesday, the Office of the Comptroller of the Currency sanctioned high-cost lending arrangements between state-licensed non-banks and national banks. As a result, payday lenders and others charging triple-digit interest rates will be able to conduct business in states where high-cost lending is prohibited by state law.
OCC’s new True Lender rule opens the door to more abusive lending Read More »
Although active employment rates in North Carolina’s small businesses dropped broadly during the first six months of the COVID-19 pandemic, by the end of August the rate had returned to pre-COVID levels for White entrepreneurs, but was still down by 62% for Black business owners, a new study shows. The study, from the National Community
Today, the United States District Court of Massachusetts found in favor of the Massachusetts Fair Housing Center and Housing Works, Inc. and issued a preliminary injunction to postpone the start date of the U.S. Department of Housing and Urban Development’s (HUD) new disparate impact rule, which had been finalized by the agency in September.
In about 400 pages, “From Here To Equality” reviews the political history of the Black reparations movement, the effects of slavery on the nation’s development and the ongoing failure of the country to take action to bridge racial economic inequality. It also outlines a program for Black reparations.
Economic Reparations: the Path “From Here to Equality” Read More »
