KeyBank’s New Racial Equity Audit Contradicts Its Initial Denials Of Redlining And Other Lending Failures In Black Communities
By NCRC
Damning evidence of potential redlining by KeyBank will receive an independent audit, the Cleveland-based lender announced Thursday, to address civil rights and racial equity concerns the bank previously attempted to deflect using misleading data that inaccurately portrays their lending behavior. [Read more]
Views
Partnering For Health Equity At The 2023 Just Economy Conference
By Magdalena Mysliwiec
A person’s health is inseparable from their ability to live well and participate fully in their communities. For centuries, conventional wisdom held that individual health was primarily determined by individual behavior. But in recent years, it has become clear that health goes far beyond personal choices and genetic codes. Our health is strongly influenced by social, environmental and behavioral factors, which drive up to 80% of health outcomes. [Read more]
2022 HMDA Data: Unraveling The Impact Of Rising Interest Rates On Homebuyers And Lenders In 2022
By Jason Richardson
Home lending to non-wealthy borrowers plummeted. Owners who missed out on pandemic-era refinance opportunities scrambled to find other ways to capitalize their homes. [Read more]
Research
Race, Jobs & The Economy Update: Record-Breaking Black Unemployment Levels Reach A New Low
By Dedrick Asante-Muhammad, Jason Richardson and Joseph Dean
The gap between Black and White employment, now at a record low of 1.6 percentage points, highlights progress in addressing economic inequality. [Read more]
Field Notes
DCWBC Women Entrepreneur Profile: Kids and Culture, LLC Profile
By NCRC
This is part of a series of profiles showcasing the talented entrepreneurs of NCRC’s DC Women’s Business Center. Kids and Culture, LLC is a women-owned business started in 2010 by Jania Otey that provides cultural education, programs, classes, camps and cookbooks for kids. [Read more]
Events
2023 Fair Lending Forum
May 15, 8:00 am EDT - May 17, 5:00 pm EDT
Join NCRC President and CEO Jesse Van Tol at the 2023 Fair Lending Forum in Washington, DC, where you’ll connect with like-minded peers, engage in thought-provoking discussion, and take deep dives into critical conversations that matter. You’ll also network and do business with industry thought leaders including government regulators, lenders, compliance professionals and more.
Section 1071 Webinar: New Data For Small Business Lending
May 18, 1:30 pm - 2:30 pm ET
Join us for an overview of the new rule’s features, how it will be implemented, its strengths and weaknesses and items that are still open for consideration by the CFPB. We hope to see you there! [Register here]
In the News
KeyBank Named 'Worst Lender For Black Borrowers' Will Undergo 'Racial Equity Audit'
By Swapna Venugopal Ramaswamy, USA Today
KeyBank, which was ranked the worst lender for Black borrowers among the nation's 50 largest mortgage lenders by a national nonprofit, will conduct a racial equity audit, the bank announced. [Read more]
National Gathering Looks To Address Root Causes Of Inequality
By Steve Dubb, Non Profit Quarterly
“We know that redlining and segregation was not just a phenomenon that has to do with banks,” Jesse Van Tol, CEO of the National Community Reinvestment Coalition, said. “Institutional racism means that many institutions were implicated in the creation of the system that we have today—governmental, academic, corporate, and medical institutions alike.”[Read more]
On Our Radar
Crackdown On Predatory Green Loans
By Lee Harris, The Prospect The Consumer Financial Protection Bureau has proposed rules forcing a program that offers loans for energy efficiency upgrades to confirm a borrower’s ability to repay. [Read more]
HUD Announces More Than $837 Million From President Biden's Investing In America Agenda To Improve Housing Quality And Reduce Energy Costs For Underserved Communities
By HUD
The US Department of Housing and Urban Development (HUD) announced the availability of new funding through the Green and Resilient Retrofit Program (GRRP) to reduce greenhouse gas emissions and improve the energy and water efficiency and climate resilience of HUD-assisted multifamily properties serving low-income residents. [Read more]
Resources
Work And Meet At The Just Economy Club It's aDC hubfor nonprofits and the social sector, around the corner from the White House. Move your team into a private office or host your meetings and events or hang out in the lounge. [Read more]
Learning & Training Hub Register for NCRC's catalog of professional development courses for community development leaders. [Learn more]
Research And Reports We have an extensive library of research and reports that dates back many years; now available in one convenient location! [View all]
Racial Wealth Snapshots Browse our catalog of socioeconomic briefs and infographics. [View all]
Sign And Share The Just Economy Pledge America should not only promise but deliver to all Americans opportunities to build wealth and live well. Sign the pledge and share it to help us expand the movement for a Just Economy. [Sign and Share]
Fair Lending Tool Use our interactive tool to produce a report on mortgages, small business lending and bank branch networks for any city, county or metro area in the nation. [Access the tool here]
TreasureCRA Keep up and catch up on plans to strengthen the Community Reinvestment Act. [Read more]
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