New Dataset Empowers Researchers To Precisely Track The Effects Of Redlining Over Time
The HLD effectively bridges the gap between the different eras of HMDA data collection and clarifies it for researchers, using the same census tract boundaries to organize the information. This accessible format should open new doors for investigating the historical effects of redlining and disinvestment through new, geographic alignment across multiple decades of mortgage reporting. [Read more]
NCRC Hires Rosemary “Rose” Ramirez As Corporate Counsel And Director Of Compliance
Meet Rosemary “Rose” Ramirez, NCRC’s new Corporate Counsel and Director of Compliance. Rosemary will be instrumental in representing NCRC in all legal matters and ensuring the organization’s adherence to legal and regulatory standards while championing corporate integrity and ethical practices. [Read more]
NCRC Hires Eden Forsythe As Chief Policy Counsel
Eden came to NCRC after serving as the Deputy Staff Director for Policy and General Counsel at the House Select Committee on the Strategic Competition between the United States and China where she helped pass major bipartisan legislation and oversaw policy for committee Democrats on issues including trade, labor rights, human rights, supply chains and the transition to clean energy. [Read more]
Reports
Decades of Disinvestment: Historic Redlining and Mortgage
Lending Since 1981
Redlining was one of several practices and policies which were instrumental in the creation of existing patterns of residential segregation. Maps created by the Home Owners Loan Corporation (HOLC) 90 years ago document the federal government’s development of redlining which codified less-formal local practices of exclusion and lending discrimination, perpetuating and expanding segregation and inequality nationwide. Discriminatory lending practices predate HOLC. The roots of redlining stretch back to the enslavement and exploitation of African Americans over the centuries, and to the xenophobia of many Americans toward many immigrant groups. This history of economic and social injustice laid the groundwork for many of the disparities we see today. [Read more]
Field Notes
The Lone Wolf Of Fair Lending In San Diego County
By Jason Richardson
Dave’s commitment to social justice and economic equality is extensive. Starting as a supporter of economic justice and labor rights for migrant and seasonal farmworkers in 1968, he has been involved in numerous campaigns and organizations dedicated to defending the rights of the poor and marginalized. He volunteered for the late Alan Cranston’s campaigns for US Senate, supported various boycotts for workers’ rights, and was actively involved in the United Farm Workers’ movements alongside Cesar Chavez. [Read more]
NCRC CDF Entrepreneur Spotlight: Olive Gift Co.
By NCRC
This is part of a series of profiles showcasing the talented entrepreneurs of NCRC’s Community Development Fund.Olive Gift Co.is a women-owned business started by Michell Ratcliffe that provides gift-giving services. [Read more]
Views
June 5 FHFA Hearing Is Key Opportunity For Community Organizations To Influence Fannie Mae And Freddie Mac To Promote The Just Economy
By Josh Silver
The rigor and effectiveness of the equitable housing finance plans may depend on community input. Community groups should therefore ask hard questions at the upcoming June 5 hearing – in particular about whether each action has meaningful quantifiable goals that are improvements from past GSE purchasing volume and whether they increase lending to underserved populations in specific geographical areas. [Read more]
The CFPB Won Big At The Supreme Court — But The Fight Over Small Business Lending Discrimination Is Just Beginning
By Manan Shah
The underrepresentation of people of color in small business ownership is directly tied to racial wealth inequality. Personal savings were the most common source of start-up capital in a recent Small Business Administration (SBA) survey of entrepreneurs – and given the vast racial wealth divide in the US, non-White people are far less likely to have the money to act upon their business ideas. Recent Federal Reserve estimates suggest the median wealth is $44,900 for Black households and $61,600 for Latino households, while the median wealth is $285,000 for White households. [Read more]
NCRC Statement On Supreme Court CFPB Decision
By NCRC
“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]
Events
NCRC CDF’s Navigating Business Financing Webinar Series: Session 5: Strategies For Successful Loan Applications: From Presentation To Approval June 13, 10 am - 12 pm ET
Join NCRC CDF for an essential webinar where we’ll explain the loan application process and equip you with the tools for success.
This session is your roadmap to loan approval success. Learn how to showcase your business effectively, highlight strengths, and address potential weaknesses with confidence. Don’t miss this opportunity to avoid common pitfalls and gain invaluable insights from industry experts. [Register here]
Purpose-Driven Success: Uncovering Your Why for Professional and Personal Growth June 20, 2:30 pm ET
Join NCRC’s National Training Academy (NTA) for this training where participants will embark on a journey to discover their “why”—the core reason that drives their actions and decisions. Understanding your why is crucial for finding purpose and achieving true fulfillment in both personal and professional realms. [Register here]
In The News
Biden Says The Racial Wealth Gap Is Closing. The Reality Is More Complicated.
By Theodoric Meyer and Leigh Ann Caldwell, The Washington Post
When President Biden traveled to Philadelphia last week to kick off a new effort to win over Black voters, he boasted that the gulf in wealth between White and Black Americans had narrowed on his watch. “The racial wealth gap is the lowest it’s been in 20 years because of our efforts,” Biden said. [Read more]
Report Reveals Ongoing Impact of Redlining On Home Ownership
By Ebony McMorris, The Black Chronicle
A new report from the National Community Reinvestment Coalition reveals that race-based exclusion from home ownership persists despite the Fair Housing Act, which outlawed discriminatory lending practices 55 years ago. Analyzing 40 years of home Mortgage Disclosure Act data, the study shows redlined neighborhoods received 3,000 fewer mortgages than those rated as best by historic maps, even when accounting for market factors.
Utah Sees Wide Homeownership Gap Between White and Black Households
By Kim Bojórquez, Axios
Utah's homeownership rate is higher than the rest of the nation.
Yes, but: About 74% of white non-Hispanics own and occupy their homes, compared to 27% of Black households and about 54% of Latino households, per a University of Utah Kem C. Gardner Policy Institute report. [Read more]
A Worker-Owned Co-Op Is Giving Baltimore's Vacant Homes- And People- A Second Chance
By Hallie Miller, The Baltimore Banner
There’s no one-size-fits-all solution for when a city contains more than 13,000 vacant homes and some 20,000 empty lots.
Instead, Baltimore’s vast vacant housing landscape has ushered in waves of new ideas — and people, all hoping to slice off a piece of the pie. [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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