NCRC ([link removed] )
Just News
for March 22, 2024
News and views from the National Community Reinvestment Coalition. Find more at ncrc.org ([link removed] ) .
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Announcements
Federal Banking Regulators At The 2024 Just Economy Conference
Register now to be sure you hear Michael J. Hsu, Acting Comptroller of the Currency, Michael S. Barr, Vice Chair for Supervision of the Board of Governors of the Federal Reserve System, Martin Gruenberg, Chairman of the Board of Directors of the FDIC, and Rohit Chopra, Director of the CFPB, live at the 2024 Just Economy Conference! [Register now ([link removed] ) ]
News
NCRC Statement: Capital One Merger Filing Is A Polite Way Of Saying 'Please Let Us Exploit More Desperate Americans'
By NCRC
“Capital One is already the largest subprime credit card lender in the country. Its business model is built on using data analysis to identify the people most likely to slip into revolving debt and then pushing products on them that will deepen their financial distress. Credit cards can be an important tool for individuals and families to gain momentum toward building wealth – but only if they are responsibly tailored to promote financial stability. Capital One has been successful because it designs its subprime credit business to do the opposite. That’s why roughly half its net income comes from interest and fee revenue from lower-income cardholders." [Read More ([link removed] ) ]
NCRC Awarded Largest HUD Housing Counseling Training And Services Grant
By NCRC
The National Community Reinvestment Coalition was one of seven nonprofits to be awarded a grant from the US Department of Housing and Urban Development to provide training and education for current and prospective HUD-Certified housing counselors. NCRC was awarded $578,416.92. [Read More ([link removed] ) ]
Views
Loss Of Medicaid Coverage Disproportionately Impacted People Of Color
By Devin Thompson
The large-scale and racially inequitable disenrollment process scrutinized in the JAMA study is therefore worrying on a variety of levels. One of the most alarming aspects of the disenrollment process is its impact on individuals struggling with mental health or substance misuse comorbidities. Shockingly, those with these health issues were 50% more likely to lose Medicaid coverage in this “unwinding” of COVID-era policy than their counterparts without such conditions. This creates a critical gap in care for individuals with some of the highest mortality rates, leaving them without necessary medical support precisely when they need it most. [Read More ([link removed] ) ]
Joint Statement In Support Of CFPD 1033 Rulemaking
By NCRC
As a group, we have found agreement that the proposed Section 1033 rulemaking has the potential to improve the quality of financial services available to consumers, including low-income and underserved consumers, if consumer privacy and data control rights are sufficiently protected. To that end, we offer three areas of consensus that we identified, for CFPB’s consideration. [Read more ([link removed] ) ]
Events
NCRC CDF's Navigating Business Financing Webinar Series: Session 1: Accessing Business Capital: Navigating Funding Options
March 22, 10 am ET
Are you prepared to elevate your business? Join us for an engaging webinar featuring Lucretia Freeman-Buster, a former banker and small business expert, as she demystifies the intricacies of business financing. Whether you’re an aspiring entrepreneur or an experience business owner, this session is designed to equip you with the knowledge and resources necessary to effectively navigate different funding opportunities. [Register Here ([link removed] ) ]
2024 Prosperity Indiana Summit
April 9-10
Please join NCRC President and CEO Jesse Van Tol at the 2024 Prosperity Indiana Summit. This in-person summit is the premier community economic development conference in Indiana and your chance to join affordable housing developers, nonprofit service providers, policymakers, local units of government, and financial institutions in creating equitable and attainable housing for all Hoosiers. [Register Here ([link removed] ) ]
NCRC CDF's Navigating Business Financing Webinar Series: Session 2: Understanding Financial Statements: A Comprehensive Guide
April 16
Join NCRC CDF for an enlightening webinar where we will delve into financial statements and provide you with the tools necessary to comprehend your business’s financial well-being. [Register Here ([link removed] ) ]
In The News
Exclusive: CapOne Tells Regulators Discover Deal Will Boost Competition And Stability
By Michelle Price, Reuters
"This is a key test of the federal merger review framework," said Jesse Van Tol, CEO of the National Community Reinvestment Coalition, an influential community lending advocacy group which opposes the deal. [Read More ([link removed] ) ]
TD Bank Launches $20 Billion Community Impact Plan To Empower Underserved Communities
By TD Bank, Tampa Bay Times
TD Bank ([link removed] ) 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, will target communities across TD Bank's US presence in 15 states and Washington, DC. [Read more ([link removed] ) ]
On Our Radar
'Modern-Day Redlining': Research Investigates Wall Street-Backed Rental Market
By Sara Savat, Phys.org
Carol Camp Yeakey, the Marshall S. Snow Professor of Arts & Sciences and founding director of Washington University in St. Louis's Center on Urban Research & Public Policy, is leading a two-year national study to examine the surge of corporate investors in the single-family rental (SFR) market and the implications for renters, especially marginalized communities of color. [Read More ([link removed] ) ]
DOJ Escalates Price-Fixing Probe On Housing Market
By Josh Sisco, Politico
The Justice Department is expanding its probe of the rental housing market, opening a criminal investigation of a top developer of property pricing software and some of its customers, according to four people with knowledge of the matter. The DOJ is looking into the possibility that RealPage is facilitating price-fixing among some of the large residential property owners and management firms that use the company’s product, according to the people, who were granted anonymity to discuss a confidential matter. [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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