“It’s always nice to see the courts get something right – especially in this tawdry circumstance where payday loan predators sought to wriggle out of basic oversight using absurd distortions of law and fact. But this vindication of the CFPB’s existence and funding structure is especially meaningful because of its positive repercussions all across our economy." [Read more]
Better Data Needed to Dismantle The 'Model Minority' Myth About Asian Americans: Race, Jobs And The Economy April 2024 Update
By Joseph Dean and Manan Shah
The BLS reports that the economy added 175,000 jobs in April, well below the average of 242,000 over the last 12 months. This is accompanied by a slight increase in the unemployment rate to 3.9 percent, which the BLS notes has stayed between 3.7 percent and 3.9 percent since August 2023. These dips will be welcomed by the Federal Reserve, which sees a cooling economy as an asset in its fight against inflation. But they are disappointing for many job seekers and households. [Read more]
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]
Events
NCRC CDF’s Navigating Business Financing Webinar Series: Session 4: Building Credit and Navigating Credit Reports: Strategies for Success May 21, 10 am ET
Join NCRC CDF for a dynamic webinar where we’ll explain the process of credit evaluation. Learn how lenders assess your creditworthiness, decode credit reports, and master strategies to boost your credit score. Explore effective tactics to overcome existing credit hurdles and position your business for loan success.
Partnering for Stronger Communities Series: Part 1: Bridging Healthcare and Community Development for a Just Economy May 28, 2 pm ET
Join NCRC’s National Training Academy (NTA) for a compelling webinar tailored for community and economic development professionals, where we explore the dynamic relationship between health systems and community development in fostering a just economy. Discover how the growth of the healthcare sector offers opportunities for strategic partnerships that benefit your organization, hospitals and the communities you serve. [Register here]
In The News
Supreme Court Sides With The Consumer Financial Protection Bureau, Spurning A Conservative Attack
By Mark Sherman, The Associated Press
Jesse Van Tol, president and CEO of the National Community Reinvestment Coalition, said the decision upholding the consumer bureau’s funding structure would have positive effects across the U.S. economy. [Read more]
Will New Rules for the Road Emerge for Bank Mergers?
By Steve Dubb, NPQ
"The [proposed] Capital One-Discover merger is a terrible, horrible, no good, very bad idea," Jesse Van Tol, CEO, National Community Reinvestment Coalition, conference keynote address, April 3, 2024. [Read more]
On Our Radar
Are Home Prices Still Rising? See How Prices Have Changed In Your Area.
By Kevin Schaul and Rachel Lerman, The Washington Post
ince 2019, home prices have surged 54 percent. In the last year, prices increased 5.8 percent — a more steady rise after the volatile years of the early pandemic, according to a Washington Post analysis of home value data from the mortgage technology division of Intercontinental Exchange (ICE). But high interest rates, low inventory and years of price jumps continue to challenge Americansbuying homes. [Read more]
Banks Have Given Almost $7 Trillion To Fossil Fuel Firms Since Paris Deal, Report Reveals By Damien Gayle, The Guardian
In 2016, after talks in Paris, 196 countries signed an agreement to limit global heating as a result of carbon emissions to at most 2C above preindustrial levels, with an ideal limit of 1.5C to prevent the worst impacts of a drastically changed climate.[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]
.png?width=400&upscale=true&name=NCRC%20color%20FINAL%20(1).png)