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Just News

for March 8, 2024

News and views from the National Community Reinvestment Coalition. Find more at ncrc.org ([link removed] ) .

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Announcements

NCRC Announces 3 Winners In #JustEconomy Spirit Contest

By NCRC

Congratulations to Carmen Velez, a Housing Counselor at Neighborhood Housing Services of South Florida in Miami; Joseph Williams, Managing Director at The Community Foundation for Greater New Haven in Connecticut; and Dr. Lee Davenport, a realtor and housing coach in Atlanta, Georgia, winners of NCRC's #JustEconomy Spirit Contest! [Read More ([link removed] ) ]

News

Regulators Should Block Capital One-Discover Merger, Advocacy Groups Write In Joint Letter

By NCRC

“The scale and scope of harms represented by this transaction are enormous,” the National Community Reinvestment Coalition, the American Economic Liberties Project, Public Citizen, Americans for Financial Reform and 18 other signers wrote in the letter ([link removed] ) . “The threat is grave, not just to the dynamism of the economy and the stability and competitiveness of the financial services sector, but to American businesses and the health of consumers across the country. Bank regulators, and, if necessary, the Justice Department, must deny it.” [Read More ([link removed] ) ]

Next Generation Of Community Development Leaders: Join NCRC For The Emerging Leaders Reception At The 2024 Just Economy Conference

By NCRC

The National Community Reinvestment Coalition (NCRC) invites young professionals to join us for the Emerging Leaders Reception, Wednesday, April 3, from 5 pm to 6 pm ET during the 2024 Just Economy Conference. The conference schedule includes an array of sessions on organizing, policy advocacy, community and economic development with leaders working towards a just economy. [Read More ([link removed] ) ]

National Community Reinvestment Coalition’s Community Development Fund A Finalist In Truist Foundation’s 2024 Inspire Awards

By NCRC

Truist Foundation is hosting a live stream event on Wednesday, April 24, 2024, to hear from the seven finalists, including NCRC CDF. Each finalist will be given the opportunity to pitch their innovative, tech-based solutions to a live audience, who will then be able to vote for their favorite innovation. Register now for your virtual front-row seat. Then prepare to cast your vote for NCRC CDF! [Read More ([link removed] ) ]

Views

The Racial Wealth Divide And Black Homeownership: New Data Show Small Gains, Deep Fragility

By Joseph Dean, NCRC

For most families, their home is the primary way they store and build wealth. The Black-White homeownership gap is therefore the primary driver of the Black-White racial wealth divide. NCRC has called for policymakers to set a target Black homeownership rate of 60% within the next 20 years. [Read More ([link removed] ) ]

Cash, Culture And Care: Navigating Dementia In An Indian American Family

By Monica Grover, NCRC

The Alzheimer’s Association describes dementia as “a general term for loss of memory, language, problem-solving and other thinking abilities that are severe enough to interfere with daily life.” Dementia is a global health crisis affecting nearly 55 million people. [Read More ([link removed] ) ]

NCRC And WSECU: Pioneering Collaborative Efforts For Community-Centric Financial Branches

By Jason Richardson and Catherine Petrusz

In a groundbreaking partnership, the National Community Reinvestment Coalition joined forces with the Washington State Employees Credit Union to identify the optimal location for a new branch in Tacoma, Washington. This collaboration underscores NCRC’s commitment to assisting financial institutions in establishing branches that not only thrive financially but also effectively meet the needs of low- and moderate-income communities. [Read More ([link removed] ) ]

Video

Redlining The Reservation

By NCRC

Citizens on tribal lands live starkly different lives from Americans living in other areas, with limited quality-of-life necessities like electricity, fresh water, sanitation and heating and cooling systems for housing. Learn how tribal areas have been cut out of the financial system, and what can be done about it in our webinar “Redlining the Reservation." [Read More ([link removed] ) ]

Events

The 5 Steps To Freedom: How Entrepreneurs Can Build The Business Of Their Dreams In Any Economy!

March 12, 11 am - 12 pm EDT

In today’s dynamic business landscape, entrepreneurs often face unique challenges. “The 5 Steps to Freedom” webinar offers a roadmap for success. Attendees will learn to envision their dream business, create a solid strategy, master marketing and branding, build strong customer relationships, and embrace adaptation and innovation. This interactive webinar provides actionable insights through engaging presentations and exercises. Participants will leave with the confidence and skills to thrive in any economic climate, making their entrepreneurial dreams a reality. [Register Here ([link removed] ) ]

Changes To The Community Reinvestment Act: An Opportunity For Asset Building Philanthropy

March 13, 1 pm ET

Join NCRC President and CEO Jesse Van Tol on Wednesday, March 13 from 1:00 pm – 2:00 pm ET at Asset Founders Network’s webinar, “Changes to the Community Reinvestment Act: An Opportunity for Asset Building Philanthropy,” to hear about how the impending changes to the Community Reinvestment Act (CRA) can enhance wealth-building initiatives for low- and moderate-income communities. [Register Here ([link removed] ) ]

In The News

Credit Card Lenders Are Getting Rich Off Your Late Fees

By Katya Schwenk, Jacobin

“It is very difficult to imagine how federal regulators could allow Capital One to buy Discover given the requirement that mergers benefit the public as well as insiders,” said Jesse Van Tol, the president of the National Community Reinvestment Coalition, in a statement following the merger’s announcement. [Read More ([link removed] ) ]

First Financial Bank And NCRC Announce $2.4 Billion Community Benefits Agreement

By Building Indiana Business

First Financial Bank has entered into a new $2.4 billion, five-year Community Benefits Agreement with the National Community Reinvestment Coalition and related partner organizations, establishing goals for lending and investments to low- and moderate-income clients and census tracts. The new agreement follows the successful conclusion of First Financial’s previous CBA, during which it achieved 192 percent of its $1.75 billion goal in lending and investments for 2018-2023. [Read More ([link removed] ) ]

On Our Radar

Native Entrepreneurs Face Credit-Access Challenges

By Ava LaPlante and Laurel Wheeler, Federal Reserve Bank of Minneapolis

In 2022, the most recent year for which SBCS data are available, Native representation in the survey data was the highest it has ever been, at 405 out of 13,910 respondents, or nearly 3% of the total sample. For the first time, SBCS reports were able to include American Indian or Alaska Native-owned businesses in analyses that were broken down by demographic categories. And during the survey questionnaire’s development, the Center for Indian Country Development (CICD) had the opportunity to add a module that would specifically explore the credit experiences of Native-owned small businesses. [Read More ([link removed] ) ]

Waters Says Affordable Housing Is Critical To Fighting Inflation

By Megan Leonhardt, Barron's

In her opening remarks in Wednesday’s hearing, Waters said that while she’s pleased about the progress the Fed has made in bringing down inflation, the U.S. is “not out of the woods yet.” She specifically called out housing as an area of concern. “Until we address the underlying housing supply shortage, Americans will continue to pay an increasing share of their income on housing, the affordability crisis will worsen and inflation will remain too high,” Waters said. [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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