NCRC ([link removed] )
Just News
for January 26, 2024
News and views from the National Community Reinvestment Coalition. Find more at ncrc.org ([link removed] ) .
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Announcements
NCRC Merch Store Now Open
By NCRC
NCRC’s new web shop offers T-shirts, hoodies, baseball caps, travel mugs and other items for the whole family – and a way for our friends and fans to show their support for a Just Economy. [Read more ([link removed] ) ]
Views
Analysis: New CRA Rule’s Improvements To Public Engagement Systems Do Not Go Far Enough
By Josh Silver, NCRC
The Community Reinvestment Act’s central goal of remediating economic injustice cannot be effectively achieved without ample and direct input from the people CRA is meant to help. When regulators overhauled CRA rules in 2023, one of the most important pieces of the puzzle was how to improve public engagement with banks and the federal bank agencies to help fulfill the law’s mandate that banks serve community needs. There is no better way for banks to figure out how to serve community needs than consulting the community in a sustained and thorough manner. CRA must establish a regular and thoughtful process for dialogue among the stakeholders. [Read More ([link removed] ) ]
Analysis: How Community Groups Can Use The New FTC-DOJ Merger Guidelines To Advance The Just Economy
By Josh Silver, NCRC
In mid-December of 2023, the Department of Justice (DOJ) and the Federal Trade Commission (FTC) released updated merger guidelines concerning the agencies’ antitrust analysis. The agencies developed several guidelines that help them determine when mergers substantially lessen competition, create monopolies and harm consumer welfare by raising prices and decreasing the quality of service. The Sherman and Clayton Acts prohibit mergers with significant anti-competitive impacts. [Read more ([link removed] ) ]
MLK Would Have Been 95 This Year. Let’s Make His Dream A Reality.
By Dedrick Asante-Muhammad and Chuck Collins, NCRC
Just over 60 years ago, in his famous “I Have A Dream” speech at the 1963 March on Washington, King declared: “We refuse to believe that there are insufficient funds in the great vaults of opportunity of this nation. And so we’ve come to cash this check, a check that will give us upon demand the riches of freedom and the security of justice.” [Read more ([link removed] ) ]
News
NCRC, Old National Announce $1.2 Billion Addendum To Increase Community Growth Plan To $9.5 Billion
By NCRC
NCRC and Old National Bancorp today announced a $1.2 billion addendum to the bank’s existing $8.3 billion Community Growth Plan. The agreement builds on the bank’s long-standing commitment to supporting historically underserved and economically-disadvantaged individuals, families and communities, and on NCRC’s ongoing work to ensure all bank mergers feature a clear and specific benefit to those living in affected service areas. [Read more ([link removed] ) ]
NCRC Statement On CFPB Overdraft Rule
By NCRC
“Steep overdraft fees are effectively a penalty for not being rich enough to never worry about whether you moved enough money into your checking account before you swiped your debit card at the grocery. I’m glad to see the CFPB put forth this rule to curb the abusive excesses of what should be a much more modest guardrail for the industry," said NCRC President and CEO Jesse Van Tol. [Read more ([link removed] ) ]
Events
2024 Just Economy Conference: Registration Now Open
By NCRC
We are so excited to invite you to join us in person from April 2-4 in Washington, DC. The super early bird tickets won't last much longer. Register today and save! [Register here ([link removed] ) ]
Habitat For Humanity’s 2024 Affiliate Conference
Habitat for Humanity’s 2024 Affiliate Conference is March 4-7 in Atlanta, Georgia. NCRC’s Senior Policy Advisor Kevin Hill will be speaking on the panel, “The Community Reinvestment Act (CRA): What is it? How Can Affiliates Use It to Increase Production?” [Register here ([link removed] ) ]
Fast Track To Certification
Live Virtual Learning | Monday, February 26 through Friday, March 1, 6 pm to 9 pm ET
Embark on an exciting journey to conquer the HUD Housing Counseling Exam! Say goodbye to mundane study sessions and hello to a vibrant virtual experience designed to make learning engaging and effective. Join a community of housing counselors for a collaborative exploration of the six core exam topics, where peer discussions and interactive activities will turn your exam preparation into an exhilarating adventure. Don't just study – immerse yourself in a dynamic learning environment that sparks curiosity and fuels success! [Register Here ([link removed] ) ]
In The News
TD Bank Targets $20 Billion To Spark Economic Opportunities For Low- And Moderate-Income, Diverse, And Underserved Communities Across 15 States And Washington, D.C.
By Martha A. Gaston, TD Stories
TD Bank, America's Most Convenient Bank®, today announced a three-year Community Impact Plan that will provide an estimated $20 billion supporting lending, philanthropy, banking access and other activities for the benefit of diverse and underserved communities. This strategy, developed with insight from the National Community Reinvestment Coalition (NCRC), will target communities across TD Bank's U.S. presence in 15 states and Washington, D.C.[Read more ([link removed] ) ]
Old National Bank To Spend $1.2 Billion More On Community Growth Plan
By Joseph S. Pete, The Times of Northwest Indiana
“Supporting and strengthening the assemblies that Old National serves is a strategic priority and a defining characteristic of our Old National culture,” said Old National CEO Jim Ryan. “We are excited for this opportunity to expand on our existing partnership with the National Community Reinvestment Coalition and increase the positive impact of our Community Growth Plan.” [Read more ([link removed] ) ]
On Our Radar
Housing Is Now Unaffordable For A Record Half Of All U.S. Renters, Study Finds
By Jennifer Ludden, NPR
More such households and many others also now struggle to pay rent, according to a newly released report from the Joint Center for Housing Studies of Harvard University. It finds that in 2022, as rents spiked during the COVID-19 pandemic, a record half of U.S. renters paid more than 30% of their income for rent and utilities. Nearly half of those people were severely cost-burdened, paying more than 50% of their income. [Read more ([link removed] ) ]
Vermont Becomes Latest State To Propose Wealth Taxes
By David W. Chen, The New York Times
One proposal in Vermont would tax people with more than $10 million in net worth on their capital gains, even if the gains have not yet been realized. Another would add a 3 percent marginal tax on individual incomes exceeding $500,000 a year — a measure that supporters contend could pump $98 million, or almost 5 percent of the annual budget, into the state’s coffers. [Read more ([link removed] ) ]
Resources
Work And Meet At The Just Economy Club
It's a DC hub for 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 ([link removed] ) ]
Learning & Training Hub
Register for NCRC's catalog of professional development courses for community development leaders. [Learn ([link removed] ) more ([link removed] ) ]
Research And Reports
We have an extensive library of research and reports that dates back many years! [View all ([link removed] ) ]
Racial Wealth Snapshots
Browse our catalog of socioeconomic briefs. [View all ([link removed] ) ]
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 ([link removed] ) ]
Member Hub
NCRC members: Don't forget you have access to our member hub ([link removed] ) ! Learn more about membership here ([link removed] ) . You can join as an organization or an individual ([link removed] ) .
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 ([link removed] ) ]
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