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Just News

for June 14, 2024

News and views from the National Community Reinvestment Coalition. Find more at ncrc.org ([link removed] ) .

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Announcements

Applications Now Open For The NCRC Fellowship For Equitable Development

The NCRC Fellowship for Equitable Development offers a unique opportunity for fellows to gain hands-on experience, kickstart their professional development and contribute to innovative projects. In return, organizations benefit from the fresh perspectives and talent of these fellows, enabling them to tackle ambitious initiatives they otherwise may not have been able to accomplish. [Read More ([link removed] ) ]

Views

“Weathering” And The Effects Of Racism On Public Health

By Devin Thompson

The emotional and psychological effects of discrimination are familiar to anyone who’s ever been treated differently because of who they are. The damage that stress can do to the human brain has been widely understood for decades. Research on how living in poverty has similar effects on the human brain to pulling an all-nighter every night has received widespread coverage over the past decade. [Read more ([link removed] ) ]

An Anxious Economy: A Mid-Year Race Jobs and the Economy Update

By Joseph Dean

The unemployment rate for most demographic groups changed little from April to May, except for Black male workers. Black men’s experience of the job market continued its recent erratic pattern from month ([link removed] ) to month, rising from 5.2% to 6.4% – far above the levels observed last winter ([link removed] ) . This jump caused the unemployment rate for Black workers to increase from 5.6% to 6.1%. [Read more ([link removed] ) ]

News

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 ([link removed] ) ]

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 ([link removed] ) ]

Reports

Decades of Disinvestment: Historic Redlining and Mortgage

Lending Since 1981

Fifty-five years after Congress outlawed using discriminatory maps to guide mortgage lending, race-based exclusion from homeownership is still a de facto reality. Lenders continue to reinforce patterns of structural racism in formerly redlined neighborhoods, regardless of local market dynamics. [Read more ([link removed] ) ]

Field Notes

The Lone Wolf Of Fair Lending In San Diego County

By Jason Richardson

Dave Oddo’s relentless pursuit of fairness in mortgage lending began with a revelation — a newspaper headline in 1977 that unveiled the stark reality of redlining in San Diego County. Forming the San Diego Coalition Against Redlining, his mission was clear: to expose and eradicate the insidious practice that sidelined entire communities based on race and income. [Read more ([link removed] ) ]

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. ([link removed] ) is a women-owned business started by Michell Ratcliffe that provides gift-giving services. [Read more ([link removed] ) ]

Events

Remaking the Economy: How Policy Can Help Tenants Purchase Their Homes

June 20, 2:00pm ET

How can tenants purchase their homes and what do policies that advance that goal look like at the local level? In this webinar conversation, a coproduction of NPQ and Shelterforce, panelists look at how “opportunity to purchase” laws work in cities like Washington, DC and San Francisco, campaigns that are underway to put similar laws into effect in other cities, and how tenants have organized to deal with the resistance they encounter. [Register here ([link removed] ) ]

Purpose-Driven Success: Uncovering Your Why for Professional and Personal Growth

June 24, 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 ([link removed] ) ]

In The News

Coffee, Sculptures And Financial Advice. Banks Try To Make New Branches Less Intimidating

By Ken Sweet, AP News

It seemed like the fate of the bank branch was sealed when the technological gains during the pandemic made it possible to buy a home or car without interacting physically with another human being. The U.S. banking industry is estimated to have closed roughly 4,000 branches since 2020, according to the National Community Reinvestment Coalition. [Read more ([link removed] ) ]

Powerlist + Banks Keep Shedding Branches

By Garrett Andrews and Christen McCurdy, Oregon Business

Around the country, the nation’s largest banks — Bank of America, US Bank, Capital One, Wells Fargo — are rapidly closing locations. In 2023, 2,454 branches closed, according to S&P Global Market Intelligence. Since 2009 the number of branches in the U.S. has shrunk by more than one-fifth. This year more than 400 have closed in the U.S. Wells Fargo is moving the fastest, with 88 closure filings so far in 2024, according to The Wall Street Journal. See our story here. [Read more ([link removed] ) ]

On Our Radar

Homes Have Popped Up On The National Mall - Showing They Can Be Built Fast And Cheap

By Laurel Wamsley, NPR

On the wide open, grassy space on the National Mall, halfway between the U.S. Capitol and the Washington Monument, a temporary village has sprouted up in recent days. Several tiny houses line the paths, and workers assemble what looks like an instant log cabin. A few manufactured homes are clustered near the Smithsonian Castle. This is the Innovative Housing Showcase, staged by the U.S. Department of Housing and Urban Development (HUD), a public event running June 7-9. [Read more ([link removed] ) ]

The Wealth Gap Between Homeowners And Renters Has Reached A Historic High

By Jung Hyun Choi and Amalie Zinn, Urban Institute

Homes are often families’ largest assets and one of the most effective ways to build wealth, but countless news stories and studies detail just how out of reach homeownership has become. What does that mean for the wealth gap between owners and renters? [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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