The National Community Reinvestment Coalition (NCRC) and Santander Holdings USA, Inc. (Santander US) today announced the bank’s latest Community Plan, a three-year commitment of $4.6 billion in community reinvestment and $9 billion in sustainable finance, on behalf of Santander’s businesses across the United States, which will provide broad commitments for community development for affordable housing, small business, sustainable finance and supplier diversity, as well as $100 million in charitable giving and 100,000 employee volunteer hours.[Read more]
NCRC Statement: New Affordable Housing Legislation From Maxine Waters Deserves A Floor Vote
By NCRC
“These new proposals that would invest a combined $250 billion in affordable housing and down-payment support are appropriate steps toward lightening the impossible burdens working-class Americans face,” NCRC President and CEO Jesse Van Tol said. “These bills are an opportunity for congressional leadership to show that both parties view affordable housing as a national priority.” [Read more]
Research
A Maryland CRA Law Would Marshall Considerable Resources For Increasing Racial Equity And Reinvestment
Josh Silver, NCRC
Maryland’s state motto is strong deeds but gentle words. This maxim is a good way to approach the need for Maryland to enact a state Community Reinvestment Act (CRA). The strong deeds would be significant increases in loans, investments and services in communities of color and modest-income neighborhoods across the state – in both urban and rural areas. The gentle words would be the law’s carefully balanced incentives which are not overly punitive or onerous but nonetheless provide effective motivation for banks and non-bank financial institutions to better serve overlooked communities. [Read more]
Views
Understanding The Dire Economic And Health Inequities Facing Transgender Americans
By Magdalena Mysliwiec, NCRC
In recognition of Pride Month this June, this piece details the special threats to health equity that haunt the transgender community. [Read more]
Don’t Fear The Data: Why The Lawsuit To Repeal Section 1071 Is Wrong
By Kevin Hill, NCRC
Banking industry leaders are suing to dismantle a crucial new data collection effort designed to root out discrimination in small business lending. Their facts are wrong. Their motives are suspect. And the public should understand the mischaracterizations that undergird their lawsuit. [Read more]
Events
Fast Track To HUD Housing Counsellor Certification
June 26 – June 30, 9 pm - 6 pm ET
Preparing for the HUD Housing Counseling Exam can be daunting when tackling it on your own. Research shows that working together in a collaborative environment allows individuals to learn the material better than when working alone. Join other housing counselors in this virtual experience where peer discussion, exploration of the six core topics on the exam, and interactive activities will stimulate all learning styles. [Register here]
Remaking the Economy: Tenant Organizing In Unexpected Places
July 12, 2 pm - 3:30 pm ET
Spurred in part by COVID and by a growing housing affordability crisis, tenant organizing is picking up in not just expected places like New York, but in mid-sized cities like Austin and Baltimore, and even smaller cities like Louisville, Kentucky, and Portland, Maine. In this 90-minute webinar, cosponsored and co-moderated by NPQ and Shelterforce, tenant activists will share their stories, both in direct organizing and policy advocacy. [Register here]
In the News
A Maryland Community Reinvestment Act Needed To Invest In Underserved Communities
By William J. Ford, Maryland Matters
Another statute passed by Congress in 1977 was the Community Reinvestment Act (CRA), which is meant to ensure banks and other financial institutions meet investment needs in the low- and moderate-income communities around them. But two groups — Economic Action Maryland and the National Community Reinvestment Coalition — released reports this month advocating for a statewide community reinvestment act in Maryland, that they say would help increase homeownership and other financial lending opportunities for residents and business owners, especially people of color. [Read more]
Santander US Unveils New Community Plan
By Caroline Connolly, Business Wire
Santander Holdings USA, Inc. (“Santander US”) today announced its latest Community Plan, a three-year commitment of $4.6 billion in community reinvestment and $9 billion in sustainable finance, on behalf of Santander’s businesses across the United States, which will provide broad commitments for community development for affordable housing, small business, and supplier diversity, as well as $100 million in charitable giving and 100,000 employee volunteer hours. [Read more]
On Our Radar
Water Contamination In Black Communities Doesn’t Stop At Flint Or Jackson
By Kimberly Adamsand Sarah Leeson, Market Place
Adam Mahoney, a national climate and environment reporter, claims, "I mean, I think it goes back to residential segregation, redlining and just the fact that, you know, Black and Brown folks, low-income people, have been relegated to be concentrated in our country’s toxic corridors; the places that don’t have, you know, financial support, the places where these industrial companies set up business and have been polluting for decades." [Read more]
Maxine Waters Proposes Billions To Expand Low-Income Housing
By Debra Kamin, The New York Times
Representative Maxine Waters of California introduced a package of three bills on Wednesday aimed at narrowing the country’s racial wealth gap. Ms. Waters is seeking $100 billion in direct assistance to first-time home buyers; more than $150 billion in fair and affordable housing investments; and the expansion of the housing voucher program, commonly known as Section 8, into a federal entitlement that is accessible to every American family that qualifies.
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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