2024 Just Economy Conference Recap!
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Just News
for May 3, 2024
News and views from the National Community Reinvestment Coalition. Find more at ncrc.org ([link removed] ) .
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Announcements
NCRC Announces Dates For The 2025 Just Economy Conference
By NCRC
Mark your calendars now, because 2025 will be here before you know it, and you do NOT want to miss the national event for community, policy, government, business and foundation leaders working toward a just economy that not only promises but delivers to all Americans opportunities to build wealth and live well. [Read more ([link removed] ) ]
Views
Fair Housing Month: Three Local Stories To Keep An Eye On
By Gwendolyn Havern
Redlining refers to the discriminatory practices used to exclude minorities and immigrants from gaining access to financial services and assets by drawing maps that designated less-White neighborhoods “Hazardous.” The federal government would not insure a mortgage loan made in one of these red-tinted “Hazardous” map areas, thus making it impossible to get a home loan within those neighborhoods. Barred from homeownership and restricted to areas deemed hazardous by the federal government, many families of color were left with a lack of generational wealth or tangible assets to pass down to their children. [Read more ([link removed] ) ]
NCRC And 110 Organizations Urge Regulators To Block Capital One-Discover Merger In Detailed Comment Letter
By NCRC
“[T]his merger would reduce options for financially vulnerable customers and reduce the already limited competition on pricing for non-prime credit cards,” the National Community Reinvestment Coalition (NCRC) and 110 co-signers wrote in the letter ([link removed] ) . “Capital One is also an industry leader in filing debt collection civil suits [which] often create financial emergencies where customers are forced to let other bills go unpaid, further trapping them in a vicious cycle of debt.” [Read more ([link removed] ) ]
Recap: Highlights From The 2024 Just Economy Conference
By NCRC
From across the nation, 1,200 community development leaders, practitioners, policy makers, industry professionals and NCRC members gathered at the 2024 Just Economy Conference ([link removed] ) April 3-4 in Washington, DC. They made new connections and shared knowledge on banking mergers, community land trusts, responsible AI in lending and many other topics. [Read more ([link removed] ) ]
Videos
Video: Municipal Leaders On Public-Private Partnerships
By NCRC
Cincinnati Mayor Aftab Pureval, Houston’s District F City Councilwoman Tiffany Thomas, and Asahi Pompey, Global Head of Corporate Engagement and President of the Goldman Sachs Foundation will share how local policy and elected officials partner with financial and other anchor institutions such as hospitals, higher ed, and corporations to invest in affordable housing, scaling minority business enterprises through procurement and technical assistance, workforce development initiatives, and other programs that support equitable creation of wealth. [Watch ([link removed] ) here ([link removed] ) ]
Jesse Van Tol’s Keynote Speech At The 2024 Just Economy Conference
"Capital One is a bad actor. “Notorious” might be a better word. Because anyone who’s been paying attention to how Capital One moves for the past couple decades knows this is not a company that our communities can rely on. We saw that when Capital One bought ING Direct, a decade ago. It made a $180 billion ten-year commitment to communities, that wasn’t worth the paper it was printed on. ...The one part of the commitment that was good – a commitment to mortgage lending – turned out to be false promise, as Capital One abandoned the mortgage business just a few years later." [Read more ([link removed] ) ]
Events
NCRC CDF’s Navigating Business Financing Webinar Series: Session 3: Strategic Business Planning: Crafting Your Path to Success
May 3, 10 am ET
Join NCRC CDF for an engaging session where we’ll uncover essential strategies for business growth. Learn how to craft a compelling executive summary, set powerful business goals, and safeguard your business against risks. Discover the key role a strong business plan plays in securing the funding your business deserves. Plus, gain valuable insights on when it’s best to seize opportunities for expansion. [Register here ([link removed] ) ]
PCRG 14th Annual Community Development Summit
May 8, 10:00 am EDT - May 9, 6:00 pm EDT
Please join NCRC’s President and CEO Jesse Van Tol at the Pittsburgh Community Reinvestment Group’s (PCRG) 14th Annual Community Development Summit. Attendees will gain exposure to industry best practices and national trends, develop tactics to enhance the quality of life of those they serve and dive deeply into sessions that discuss how communities are creating cross-sector partnerships for lasting inclusive change and build Black wealth.[Register here ([link removed] ) ]
In The News
Soaring Housing Prices Around UC Campuses Signify A Contribution To Gentrification
By Sabrina Figueroa, The California Aggie
Olvera’s experience with housing is common among minorities. A study by the National Community Reinvestment Coalition found that the people most affected by gentrification and high housing prices were Black, Hispanic or Latinx. [Read more ([link removed] ) ]
Breaking The Cycle: Dismantling Systemic Barriers To Minority Funding
By J. Byron Brazier, Black News Portal
In particular, the decline of smaller community banks also hurts entrepreneurs. Community banks are more likely to lend to small businesses than larger banks, according to a National Community Reinvestment Coalition report. [Read More ([link removed] ) ]
On Our Radar
Why Hundreds Of US Banks May Be At Risk Of Failure
By Andrea Miller, CNBC
Consulting firm Klaros Group analyzed about 4,000 U.S. banks and found 282 banks face the dual threat of commercial real estate loans and potential losses tied to higher interest rates. [Read more ([link removed] ) ]
Affordable Housing Crisis Looms Large In Election
By Taylor Giorno, The Hill
A White House report released in March found that although incomes have doubled since 2000, housing prices have tripled, meaning the housing prices rose 50 percent faster than income over the past two decades. The median home price recently hit $383,725, a record high that’s up 5.2 percent from a year ago, according to the real estate company Redfin. [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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