Mortgage lending in Detroit and Wayne County, Michigan.
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Just News
for September 27, 2024
News and views from the National Community Reinvestment Coalition. Find more at ncrc.org ([link removed] ) .
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Views
Neighboring Markets, Worlds Apart: Mortgage Lending In Detroit And Wayne County
By Jason Richardson
This creates a lending environment where White residents, despite their declining population share, have the largest access to financial resources and homeownership opportunities. Black, Hispanic, and Asian residents, on the other hand, remain on the fringes, struggling to secure the loans necessary to own a home. [Read more ([link removed] ) ]
News
NCRC Statement On New Bank Merger Rules From DOJ, OCC, And FDIC
By NCRC
"I welcome these moves to better protect the public from harmful mergers, as community advocates have long called for, by ensuring that the needs of everyday people are properly considered in these vital decisions. The regulators’ determination is facing a stark test in the proposed Capital One-Discover merger, which would harm consumers and low-income communities if allowed to proceed."[Read more ([link removed] ) ]
NCRC Launches Health Equity Investments Office Hours
By NCRC
Once a month, the National Community Reinvestment Coalition (NCRC) will hold Health Equity Investments Office Hours, a new series of live open discussions hosted by NCRC Director of Health Equity and Impact Devin Thompson ([link removed] ) . [Read more ([link removed] ) ]
Videos
Winning Strategies For CDFIs In Special Purpose Credit Programs
By NCRC
Join NCRC for Just Economy Conversations, a series of online discussions addressing America’s racial and socio-economic divides. Experts from NCRC and our network will share ideas and strategies to make a Just Economy a national priority and a local reality. The first in the series, “Winning Strategies for CDFIs in Special Purpose Credit Programs,” explored how SPCPs effectively address lending disparities. [Read more ([link removed] ) ]
Your Membership, Your Benefits: A Closer Look at NCRC Membership
By NCRC
Join us to learn what resources, services, content and networking opportunities your membership includes and how being a NCRC member can help you in your fight for a #JustEconomy. NCRC staff share tips for making the most of your membership and walk through NCRC’s newest member features. [Read more ([link removed] ) ]
Events
NCRC CDF Series II: Session 5: Building a Resilient Financial Infrastructure
October 3, 10 - 11 am ET
Join NCRC CDF for session 5 in the series, "Strategic Financial Management Beyond Funding." As your business evolves, it's crucial to have a resilient financial infrastructure. We'll cover risk mitigation, financial contingency planning, and the tools needed to weather economic uncertainties. [Register here ([link removed] ) ]
Health Equity Investments Office Hours
October 11, 10 - 11 am ET
Join NCRC’s Director of Health Equity and Impact Devin Thompson for one hour every month for Health Equity Investments Office Hours. A deep dive into a different topic each month focused on the intersections of community-led development, health justice and investor accountability. Hear about work that’s emerging from other cities, share your projects or learn about what’s worked to better align health sector investment to community-identified needs. [Register here ([link removed] ) ]
In The News
Gentrification Isn't Inevitable - It Can Hinge On How Residents View Their Neighborhood
By Elizabeth Korver-Glenn and Sarah Mayorga, The Conversation
For example, a study by the nonprofit National Community Reinvestment Coalition that examined neighborhood change from 2000 through 2013 found that most low- and moderate-income neighborhoods across the United States did not gentrify during that period. Just seven cities – New York, Los Angeles, Washington, Philadelphia, Baltimore, San Diego and Chicago – accounted for almost half of all neighborhood gentrification nationwide. [Read more ([link removed] ) ]
Industry Groups Criticise 'Opaque' US Bank M&A Rules
By Barbara Pianese, The Banker
National Community Reinvestment Coalition CEO Jesse Van Tol welcomed the move to better protect the public from “harmful mergers, as community advocates have long called for, by ensuring that the needs of everyday people are properly considered in these vital decisions”. [Read more ([link removed] ) ]
Capital One-Discover Deal Hits Roadblock in Bank Merger Overhaul
By Evan Weinberger and Justin Wise, Bloomberg Law
The Fed hasn’t officially changed its merger policy. But even without a formal change, the central bank may ultimately apply tougher standards than in the past, when critics say the federal banking agencies were too quick to approve deals. “Historically, the agencies changed merger review policy by approving or denying mergers,” said Jesse Van Tol, the president and CEO of the National Community Reinvestment Coalition and an opponent of the Capital One-Discover deal. [Read more ([link removed] ) ]
On Our Radar
Department Of Justice Sues Visa, Alleges The Card Issuer Monopolizes Debit Card Markets
By Mae Anderson, AP News
According to the DOJ’s complaint, 60% of debit transactions in the United States run on Visa’s debit network, allowing it to charge over $7 billion in fees each year for processing those transactions.
“We allege that Visa has unlawfully amassed the power to extract fees that far exceed what it could charge in a competitive market,” said Attorney General Merrick B. Garland in a statement. “Merchants and banks pass along those costs to consumers, either by raising prices or reducing quality or service. As a result, Visa’s unlawful conduct affects not just the price of one thing – but the price of nearly everything.” [Read more ([link removed] ) ]
JPMorgan To Open More Then 500 New Bank Branches Over Next Three Years
By Nupur Anand, Reuters
"Our branch network is one of the key reasons that customer open accounts with us and it has helped us attract deposits," Roberts said. "We really view our branches as a storefront for the entire company and it is an anchor for us to expand our relationship with customers as we aim to be their primary financial partner."
Marianne Lake, JPMorgan's CEO of consumer and community banking, said at an investor conference in December that the bank was continuing to invest in its branch network and had a less than 5% branch share in 17 of the top 50 markets where it is trying to expand. [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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