House Republicans’ doomed attempt to repeal section 1071 small business lending data rules is a pointless performance for their bank industry donors.
The National Community Reinvestment Coalition (NCRC) and First Citizens Bank today announced an amendment to their previous community benefits agreement, extending the bank’s longstanding community support to Northern California and Massachusetts following its March acquisition of Silicon Valley Bank (SVB). The additional commitment, which recognizes pre-existing Silicon Valley Bank relationships, establishes a new $6.5 billion
As conversations regarding the rapid concentration of wealth dominate economic and political discourse, it’s worth analyzing the details of wealth within the billionaire class. However, little attention has been paid to billionaires of African descent. Twenty-four people of African descent have appeared in the Forbes billionaires list. People of African descent have historically been locked
The Racial Wealth Divide and Black Billionaires Across the Globe Read More »
KeyBank continued its years-long retreat from promoting Black and low-income homeownership in 2022, an analysis of the most recent federal data on mortgage lending reveals. Black borrowers made up just 2.6% of the Cleveland-based bank’s home purchase mortgage lending in 2022, down from 3% the year prior. KeyBank has been pulling back from supporting Black
KeyBank’s Betrayal Of Black And Low-Income Homebuyers Continued In 2022 Read More »
When the first Black billionaires emerged, most stemmed from the entertainment industry. In 2001, Black Entertainment Television cofounder Bob Johnson was the world’s wealthiest Black person with an estimated net worth of $1.6 billion. By 2021, Johnson’s estimated fortune had fallen by more than half – meaning he no longer appeared on annual magazine lists
The Racial Wealth Divide and US Black Billionaires Read More »
Was the October jobs report good, bad, or just plain complicated?
Low Unemployment and Labor Victories Unlikely to Bridge Racial Wealth Inequality Read More »
In response to the release Tuesday of final interagency regulations overhauling implementation of the Community Reinvestment Act (CRA) for the first time in 28 years, National Community Reinvestment Coalition (NCRC) President and CEO Jesse Van Tol released the following statement: “This update is both long overdue and essential. Marginalized communities still suffer from a variety of
NCRC Statement On Final CRA Rules Release Read More »
The CFPB thinks that your personal data should belong to you, not your bank.
The CFPB Wants To Put You Back In Charge Of Your Personal Financial Data Read More »
Who were the first Black billionaires, and how did they make their money?
The Racial Wealth Divide and The First Black Billionaires Read More »
Sens. Manchin, Sinema, Tester, Hickenlooper and King voted against their constituents’ best interests on Wednesday.
Appraisal bias and other forms of racial discrimination can only be addressed when there is clear, consistent and thorough data to work from.
New Federal Datasets Are An Important Step Forward In Understanding Appraisal Bias Read More »
The CFPB and FTC are fining TransUnion $20 million for tenants rights violations.
TransUnion Faces Big Fine As Regulators Heed NCRC Call For Fairness In Tenant Screening Read More »
Race, Jobs, and the Economy October 2023 Update September 15th through October 15th is Hispanic Heritage Month. As noted in our Latino Racial Wealth Snapshot, almost 19% of Americans are Hispanic and while their population has almost doubled in number since 2020 they remain far less wealthy than non-Hispanic White Americans. From college attainment to homeownership to income, Hispanics
Hispanic Workers See Some Warning Signs In An Overall Good Jobs Report Read More »
Five fintechs express support for the Consumer Financial Protection Bureau ahead of the CFPB’s Supreme Court case.
New racial wealth snapshots on the AAPI and Latino communities demonstrate the wide diversity of economic experiences facing members of those groups.
