Check out NCRC's 2024 Race, Jobs, and Economy update.

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Just News

for October 11, 2024

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

For continuous updates, follow us on Twitter ([link removed] ) , FB ([link removed] ) , LinkedIn, ([link removed] ) I ([link removed] ) G ([link removed] ) and Tiktok ([link removed] ) .

Announcements

CRA Birthday Social Storm

By NCRC

Next Tuesday, October 15, NCRC will host a #ProtectCRA Social Storm all day across all social media platforms. We hope you and your organization can join us by sharing #ProtectCRA messages with your networks and on your social media channels. Here are some sample messages and graphics ([link removed] ) you can use.

Views

Credit Card Monopolies Are Exploiting Small Businesses. Here’s What The Feds Are Doing About It.

By Manan Shah and Lauren Wolters

Credit card processing fees have been a problem for small businesses for many years. These fees, also known as interchange fees or swipe fees, are paid by the merchant’s bank to a cardholder’s bank when a customer uses their card to make a purchase. Small businesses are especially affected by credit and debit card swipe fees that cut deep into their costs due to their small volume of sales ([link removed] .) . [Read more ([link removed] ) ]

October Surprise? 2024 Race, Jobs, And The Economy Update

By Joseph Dean

In September, consumer sentiment had its biggest drop since 2021 as consumers became more pessimistic about the labor market, business conditions and future income growth. The top concern among households remains prices. October could see a spike in oil prices as war in the Middle East could seize up the world’s oil supply just weeks before the US election. October could very well bring a massive surprise to the economy despite the strong September jobs report. November’s job report will show whether this month's jobs gains are a new trend for the economy or an abnormality. [Read more ([link removed] ) ]

NCRC’s New National Mortgage Analysis Finds Grave Warning Signs For Economic Equity And Data Transparency

By Jason Richardson

As a result, the gap between renters and owners is widening. Homeowners are trapped in gilded cages, unable to move due to rising rates, while renters face skyrocketing rents, making it impossible to save for homeownership.The future hinges on local communities. They need to curb the influence of market-distorting investors and build more housing—denser and cheaper than today’s single-family mini-mansions. The local changes the housing market requires to function correctly are only possible with corresponding change at wider and higher levels of market activity and oversight. The problem demands a reconfiguration of housing finance. [Read more ([link removed] ) ]

Research

NCRC Mortgage Market Anaylsis

By NCRC

In 2023, mortgage lending was shaped by rising home prices and a return to historically normal interest rates, creating an unprecedented perfect storm: high values attracted home investors looking for expensive assets and rental revenue, while higher borrowing costs limited the options for homebuyers. [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] ) ]

Events

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] ) ]

Co-op Fest

October 16, 6 - 10 pm ET

Join NCRC member, Co-op Dayton, at their annual Co-op Festival on October 12th from 6 PM to 10 PM at the West Branch Library! Celebrate the dedication and achievements of local cooperatives as we unite in solidarity to build a stronger, more connected community. This free, family-friendly event offers something for everyone—delicious food trucks, fun games, live music, co-op vendors, and more! We’re grateful to our sponsors for making this evening of community and celebration possible. [Register here ([link removed] ) ]

In The News

Consumer Advocate, Fintechs Urge CFPB, FHFA To Adopt AI Guidance

By Kate Berry, American Banker

The four fintechs are members of the NCRC's Innovation Council for Financial Inclusion, a forum that discusses and pursues policy goals in which industry and consumer groups are aligned. Machine learning and some "deep learning categories of AI" can be responsibly used to develop underwriting models to help lenders comply with anti-discrimination laws, the letter states. [Read more ([link removed] ) ]

Banks Are Omitting Data About Race From Home Loans- Preventing Researchers From Identifying Racist Lending And Its Solutions

By Michael del Castillo, Yahoo! Finance

“The impact is profound,” according to an NCRC report ([link removed] ) published today, “as these gaps hinder our ability to understand who is receiving loans and under what terms, which is vital for assessing fairness and inclusivity.” To help combat the problem the NCRC today pledged to never again use any data that doesn’t include demographics on race. “Beginning with this report, NCRC is eliminating records without demographic data from our calculations of the percent of loans made to specific races,” the researchers wrote. [Read more ([link removed] ) ]

On Our Radar

Housing Programs In Philly Are Rooted In Regional Incomes. Should That Change?

By Aaron Moselle, Plan Philly

Some housing advocates find that uniformity problematic, especially for poor cities like Philadelphia. They say the metric does not accurately reflect what families are really earning, meaning some housing programs may not be reaching the population they were designed to target. Earlier this month, City Councilmember Jamie Gauthier introduced a resolution calling for a hearing to explore the shortcomings of using a regional AMI and how it “fails to reflect the true state of housing affordability needs of Philadelphians.” [Read more ([link removed] ) ]

Study Of New Orleans Neighborhoods, Time To Viral Suppression, Shows Long Shadow Of Redlining

By Peter Wehrwein, Managed Healthcare Executive

Time to viral suppression is the time between HIV diagnosis and low viral load of HIV in the blood. In this study, the researchers used less than 200 copies of HIV per milliliter of blood as the cutoff indicating viral suppression. Other studies and programs use different levels. Regardless of the level used, time to viral suppression is viewed as a good proxy for the adequacy in HIV care: The longer the time to viral suppression, the worse the care. [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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