Jesse Van Tol’s Keynote Speech At The 2024 Just Economy Conference
"So I stand before you today to make an announcement, right here at the conference – an agreement to resolve our concerns with KeyBank. And this is a big deal. Today, NCRC and KeyBank are announcing a $25 million agreement to work together to ensure greater levels of investment in minority and underserved communities." [Read more]
Check Out Our Newest Annual Impact Report For 2023
In 2023 NCRC made a material, life-changing difference to hundreds of individuals and families, reached and informed millions and yielded $11.1 billion in commitments from banks for lending, investments and philanthropy that will strengthen entire communities across the nation. [Read more]
Views
The Job Market For College Graduates Remains Strong But Uncertainties Persist
By Joseph Dean, NCRC
In this edition of our Race, Jobs and the Economy series we analyze the labor market overall with a focus on college graduates. Only 20% of those between 18 and 29 believe economic conditions are ‘excellent’ or ‘good’. [Read more]
Videos
CFPB Director Rohit Chopra At The 2024 Just Economy Conference
By NCRC
"We see so many individual towns, cities, communities, have dealt with the harms inflicted by the creep of consolidation across the banking sector. And so many of you, local groups, have attempted to step up to fill the void. You go up there, you negotiate agreements with emerging banks, you sometimes know, you won’t be able to stop the merger, but you use your voices, your relationships and your own community organizing to convince banks to come to the table, and have some semblance of basic service and provision of credit to those who you represent." [Watch here]
Vice Chair Of The Federal Reserve Michael Barr Sits Down With Politico Reporter Victoria Guida At The 2024 Just Economy Conference
By NCRC
"Well, as you suggested, I'm not going to comment on the lawsuit. But I do think it's really important to understand how important the Community Reinvestment Act is, and can be, for communities all over the country. All the organizations in this room, I know that you've been working on it firsthand for many, many decades." [Watch here]
OCC Acting Comptroller Michael Hsu At The 2024 Just Economy Conference
By NCRC
"Ensuring that the federal banking system is free of discrimination is a part of our mission and critical to safeguarding trust in banks. That’s why we are committed to continuing to strengthen our supervision of fair lending, especially as banking practices and technologies change." [Watch here]
FDIC Chairman Martin Gruenberg At The 2024 Just Economy Conference
By NCRC
"Most federal statutes, frankly, in the consumer area, try to prevent banks from doing bad things. CRA is about encouraging banks to do good things, to do business and serve all the communities in which they are engaged. And I think this new rule, as I indicated in my speech is fundamentally, fundamentally about adapting CRA to the rapidly changing nature of the banking business. It was essential in order to make CRA relevant for the next generation to do this rule." [Watch here]
News
NCRC And KeyBank To Renew Their Relationship
By NCRC
NCRC and KeyBank have a long history of working together to promote access to credit. However, in recent years, NCRC has raised concerns about KeyBank’s lending in minority and underserved communities and whether it has kept its promise to be a leader in inclusive home mortgage lending. NCRC’s reports have focused on certain metropolitan areas, including Philadelphia, New York, Hartford, Bridgeport, and New Haven. KeyBank disputes NCRC’s reports, but values its relationship with NCRC and is committed to serving all communities within its footprint. [Read more]
Events
The Congressional Hispanic Caucus Institute's Capital Hill Policy Briefing Series
April 14, 4 pm ET
Join NCRC’s Senior Policy Advisor Kevin Hill at The Congressional Hispanic Caucus Institute’s Capital Hill Policy Briefing Series on April 15 at 4 pm ET. Hill will be speaking on the panel, “Combating the 21st Century Wealth Gap: Examining the Community Reinvestment Act.” [Register here]
NCRC CDF's Navigating Business Financing Webinar Series: Session 2: Understanding Financial Statements: A Comprehensive Guide
April 16, 10 am - 12 pm ET
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]
Remaking The Economy: How To Change Our Stories About The Economy?
April 17, 2 - 3:30 pm ET
What are the stories that we need to tell to better understand our economy, and lay the groundwork for building a more inclusive, democratic world? Storytelling—the construction of spoken or written accounts of a series of events that we tell each other to understand our world—offers critical tools to build movements, upend myths that hold us back, and construct cultures that can sustain a democratic economy. [Register here]
In The News
KeyBank Restores Partnership With National Community Reinvestment Coalition
By Jeremy Noble, Crain's Cleveland Business
The partnership, announced last week during the NCRC’s 2024 Just Economy Conference, features $25 million in financial commitments by the Cleveland-based lender intended to support home ownership and includes an $8 million grant to NCRC itself.[Read more]
Barr: Fed Is Taking 'Thoughtful Approach' To Basel III Rules
By Flávia Furlan Nunes, Housingwire
“We gave the public extra time to comment on the rule because it was really complex. We’re analyzing those comments,” Barr said Wednesday afternoon during a conference hosted by the National Community Reinvestment Coalition in Washington, DC. “I expect them to make adjustments to the final rule. I think it will be a good, strong rule when it’s done.”[Read more]
On Our Radar
It's Time To End The Quiet Cruelty Of Property Taxes
By Andrew W. Kahrl, The New York Times
In theory, the property tax would seem to be an eminently fair one: The higher the value of your property, the more you pay. The problem with this system is that the tax is administered by local officials who enjoy a remarkable degree of autonomy and that tax rates are typically based on the collective wealth of a given community. This results in wealthy communities enjoying lower effective tax rates while generating more tax revenues; at the same time, poorer ones are forced to tax property at higher effective rates while generating less in return. As such, property assessments have been manipulated throughout our nation’s history to ensure that valuable property is taxed the least relative to its worth and that the wealthiest places will always have more resources than poorer ones. [Read More]
Half of Americans Struggling To Afford Housing, Survey Finds
By Khristopher J. Brooks, CBS News
About half of homeowners and renters said they have periodically struggled this year to afford their mortgage payment or rent, according to a recent survey from online real estate broker Redfin. To keep up with their housing payments, some homeowners and renters report selling their belongings, picking up overtime shifts, canceling vacations, working a second job and even skipping meals. [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]
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