Call For 2024 Just Economy Conference Session Ideas
Today, October 20, is the last day to submit your session ideas for the 2024 Just Economy Conference! What do you want to talk about? Whose voices do you want to include? What new ideas, best practices or insights can you share? [Submit now]
Press Releases
New Federal Datasets Are An Important Step Forward In Understanding Appraisal Bias
By NCRC
“Nobody should have to worry that decades of hard work to set their children up for a better life might get derailed by one unaccountable actor erroneously undervaluing their home when it’s time to sell,” said Jesse Van Tol, President and CEO of the National Community Reinvestment Coalition. [Read more]
NCRC, CRL And AFR Blast Senate Democrats For Betraying Small Business Owners With Vote To Rescind Section 1071
By NCRC
From NCRC President and CEO Jesse Van Tol: “It’s disturbing to see Senators Tester, King, Hickenlooper, Sinema and Manchin betray small business borrowers by putting their names on this cynical and absurd maneuver. The only people on earth who benefit from killing Section 1071 are bankers who would rather not get caught discriminating against non-White, non-male small business owners." [Read more]
Views
The CFPB Wants To Put You Back In Charge Of Your Personal Financial Data
By Adam Rust
The Consumer Financial Protection Bureau on Thursday proposed its new Section 1033 data rule. When finalized, the proposed rule will return power to consumers by giving them control over the use of their personal financial data. By clarifying how consumers can assert their rights over the collection, use and sharing of their personal financial data, Section 1033 will level the playing field between American households, banks and Big Tech. [Read more]
TransUnion Faces Big Fine As Regulators Heed NCRC Call For Fairness In Tenant Screening
By NCRC
NCRC and other groups have urged regulators to take action against unjust tenant screening practices. A $20 million enforcement action against TransUnion is a good start. [Read more]
The Racial Wealth Divide And The First Black Billionaires
By Dedrick Asante-Muhammad and Eddie Gray
The beginning of a new millennium was also the year that the Forbes list first had Black billionaires. In 2001, Robert L. Johnson and Michael Lee-Chin became the first people of African descent to clear the billion-dollar wealth mark. Out of 538 total persons or families to make the magazine’s much-watched annual list that year, Johnson ranked #312 with a net worth of $1.6 billion and Lee-Chin ranked #490 with a net worth of $1 billion. Each man’s story provides some insight into the types of assets that build and maintain wealth. [Read more]
Field Notes
Give A Warm Welcome To NCRC’s Newest Members
By NCRC
New organizational members in September were: Atlanta Land Trust, Atlanta, Georgia; Amplify Equity, Inc., Elmira, New York; and Minorities Allied Lenders, Inc., Pennsauken, New Jersey. [Read more]
What California Is Doing To Address Its Housing Needs
By Benjamin Selman
California is currently facing an affordable housing crisis. According to a recent report by the California Housing Partnership, the state needs to build 1.2 million affordable homes to meet the needs of low-income renters. To address the housing crisis, various policies have been enacted to either increase the supply of new housing or preserve the existing affordable housing. [Read more]
Events
Casita Coalition: 2023 Build The Middle National Housing Convening
November 2-4
NCRC’s Chief of Community Finance and Mobility Marisa Calderon will be speaking at Casita Coalition’s inaugural policy convening. Calderon will be speaking in the session titled “Creating the Financial Ecosystem: Breaking Down the Barriers Necessary to Ensure Liquidity and Wide Availability of Financial Products for Everyday Families.” [Register]
Wolters Kluwer: CRA And Fair Lending Colloquium
November 12, 8 am ET – November 15, 5 pm ET
Join NCRC President and CEO Jesse Van Tol as he provides the keynote address for Wolters Kluwer’s 27th Annual CRA and Fair Lending Colloquium, to be held in Austin, TX, at the JW Marriott. [Register]
In the News
New York Faces Bank Branch Exodus: Major Institutions Continue Closures
By Ash Jurberg, Newsbreak
Major banks continue to push customers toward online banking as they close locations across the United States. CNBC reports that "according to the National Community Reinvestment Coalition, one-third of the branches closed from 2017 to 2021 occurred in areas that were predominately lower-income and minority areas." [Read more]
On Our Radar
Home Sales On Track For Slowest Year Since Housing Bust
By Nicole Friedman, Wall Street Journal
The highest mortgage rates in 23 years are dragging down home sales to their lowest levels since the subprime crisis period.
Sales of previously owned homes in 2023 are expected to dwindle to a rate not seen since at least 2011, when the US population was smaller and the country was still recovering from one of the worst housing crises ever, according to many economist forecasts. [Read more]
Impacts Of Housing Discrimination On Economic Opportunity
By Nathan Denzin, PBS Wisconsin
Historical and current housing discrimination by race in rental and real estate markets have diminished opportunities for Black Wisconsinites to build generational wealth and create new businesses. [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! [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 and share the pledge 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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