Eighty years after the Home Owners Loan Corporation (HOLC) formally drew its redlining maps, those neighborhoods are still high minority population areas with the highest rates of vacancy in their metropolitan areas.
In the ten years from March 2010 through March 2020, there was a net loss of 11,820 branches in the US, an average of 98.5 per month. Since the pandemic reached our shores in March 2020, 4,025 branches have closed — an average of 201 branch closures per month. This was beyond our prediction and calls into question the future of bank branches as the principal conduit for access to financial services.
Since the inception of the mid-20th century Civil Rights era and the implementation of racially blind laws such as the Community Reinvestment Act, we can point to little progress in bridging wealth and homeownership disparities.
From November 1, 2020, to December 14, 2020, NCRC conducted multi-layered matched-
pair tests of 22 different financial institutions. The purpose of this study was to examine the
role of socio-economic status (SES), specifically perceived education, on the interactions
between race and treatment in the small business pre-application arena.
This paper examines shifts in the market share of banks and nonbank financial institutions in important product markets. Banks are covered by the Community Reinvestment Act (CRA) which requires them to serve all communities, including low- and moderate-income (LMI) ones. Nonbanks, in contrast, do not have this obligation.
It is time for regulators to incorporate an explicit focus on race in core CRA regulations and examination procedures. This should and can be done in a manner that complements, and does not in any way supplant, the longstanding focus on LMI.
From October 23, 2020, to December 29, 2020, the National Community Reinvestment Coalition (NCRC) surveyed small business owners in nine Metropolitan Statistical Areas (MSA). The data collected in the survey provided insight into accessing capital for small businesses as this program had fewer entry barriers than traditional loan products.
HMDA is a crucial tool for the public and local leaders to monitor the mortgage market and ensure lenders are not redlining in their communities.
DC Women’s Business Center surveyed 274 small business owners in the D.C. metro area to learn how the COVID-19 pandemic and economic downturn affected their businesses.
Addressing the Needs of Black-Owned Businesses and Entrepreneurs Photo: © Andrey Popov via stock.adobe.com A follow-up report on the impacts of COVID-19 on entrepreneurship in Piedmont, North Carolina. Authors: Dedrick Asante-Muhammad, Chief of Membership, Policy and Equity at NCRCJamie Buell, Coordinator of Racial Economic Equity at NCRCTalib Graves-Manns, Co-Founder of Partners in Equity NCWilson Lester, Co-Founder …
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This brief explores the potential for Landis, a lease-to-own homeownership company, to make homeownership more accessible for African Americans.
The pandemic and rapid social changes brought many challenges for a group of Black business owners in Washington, D.C., and Baltimore, but even so they emphasized the role of their businesses in maintaining the cultural vibrancy of their communities.
Black America was in an economic crisis before COVID-19, and recovery for Black-owned businesses will require solutions to the economic preconditions that made success and wealth accumulation so difficult to achieve before the pandemic, a new report found.
Relationships Matter: Small Business and Bank Branch Locations — Key Takeaways The number of banks and bank branches has declined significantly since 2009. Local branches are still crucial to small business lending. Small business lending is increasingly dominated by the largest lending institutions. Smaller institutions are disappearing as they merge or are bought out by …
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DOWNLOAD Overview: A radical increase in Black homeownership is needed to see progress in bridging Black and White homeownership and wealth inequality. One of the defining factors of economic well-being for individuals and families is household net worth or wealth, but not all families are equal. Decades of racial injustice and economic inequality have led …
60% Black Homeownership: A Radical Goal for Black Wealth Development Read More »
