News
Senate Banking Committee Highlights CRA In Oversight Hearing Of Federal Banking Regulators
Members of the Senate Banking Committee on Tuesday questioned why, in the middle of the COVID-19 crisis, bank regulators are moving forward with proposed changes to the Community Reinvestment Act (CRA) that would cripple COVID-19 recovery efforts in low- and moderate-income communities and communities of color. [Read more]
NCRC Urges Senate Committee To Pressure OCC, FDIC To Drop Proposed Changes To CRA
"COVID-19 changed everything. Regulators need to start over," NCRC CEO Jesse Van Tol said in a statement. [Read more]
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Field Notes
Racial Health And Economic Disparities Are Two Sides Of The Same Coin
COVID-19 continues to aggravate deeply embedded inequalities. We need bold policy solutions aimed at bridging the racial wealth divide now more than ever. [Read more]
Retired Or Working, Coronavirus Likely To Doubly Hit Older Americans
COVID-19 is more likely to harm elderly adults. They are also more vulnerable to the economic downturn brought on by the pandemic. [Read more]
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Views
How Participatory Budgeting Can Create Affordable Housing And A Just Economy
Participatory budgeting (PB) is a democratic process in which community members decide together how to spend part of a public budget. [Read more]
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Resource
NCRC COVID-19 Resource Page
We've compiled and are updating an index of COVID-19 resources for communities, small businesses, individuals and organizations that serve them, such as housing counseling agencies. [Read more]
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Webinars
CRA Reform: Impact on Lending and Investing in Underserved Communities
May 14
Join us for a discussion on how the proposed changes to CRA will impact the most underserved communities. [Register now]
Mental Health Series - Part III: How to Respond to Client Mental Health Challenges During COVID-19
May 20
This webinar will focus on gaining a greater understanding of what mental health disorders are and what effect they have on overall well-being. [Register now]
Making Paid Leave Happen During A Pandemic And Beyond
May 26
Join us for a discussion on paid leave policies and whether the focus on them during the current crisis will have a lasting impact. [Register now]
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In the News
Agencies Urged to Pause CRA Reform as Banks Manage Pandemic Response
A 2019 study by the National Community Reinvestment Coalition (NCRC) found that D.C. had the largest percentage of gentrifying neighborhoods of any city in the U.S., a shift that displaced more than 20,000 Black residents between 2000 and 2013. [National Mortgage News]
Recessions Are Always Racist. This One Could Be Catastrophic.
A study by the National Community Reinvestment Coalition found “better-qualified Black and Hispanic testers who shopped for small business loans at Los Angeles area bank branches were treated worse than less qualified White testers.” [Vox]
Authenticity and “Post-Chocolate” Cool in a Rapidly Gentrifying Washington, D.C.
A 2019 study by the National Community Reinvestment Coalition (NCRC) found that D.C. had the largest percentage of gentrifying neighborhoods of any city in the U.S., a shift that displaced more than 20,000 Black residents between 2000 and 2013. [NextCity]
The Housing Market Faces its Next Crisis as May Rent And Mortgages Come Due
“The last foreclosure crisis was a slow-moving train; the impact in terms of people was over the course of several years,” said Jesse Van Tol, chief executive of the National Community Reinvestment Coalition. “Whereas the current moment, it’s all happening pretty quickly, 25 million, 30 million unemployed in a manner of a few weeks.” [Washington Post]
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On Our Radar
Forbearance becomes a 'Scarlet Letter' on credit reports
Mortgages in forbearance due to COVID-19 have to be reported as “current” on credit reports, but the CARES Act doesn't mention the comments section. [HousingWire]
Small Banks Save Small Businesses, So Why Aren’t There More Small Banks?
Nonprofit groups led by Black and Latino directors lag behind peers with White leaders, but two leading philanthropic organizations hope to change that. [NextCity]
Women and people of color were already at a disadvantage — then the pandemic hit
The economic crisis exacerbates how much women’s work is undervalued. [Vox]
The Post among five news organizations suing Small Business Administration for access to loan data
A coalition of media organizations that consists of The Washington Post, the New York Times, Bloomberg, ProPublica and Dow Jones filed a lawsuit for access to CARES Act loan data. Earlier requests under the Freedom of Information Act failed to produce comprehensive data. [Washington Post]
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#AfterThis: A Virtual Hug
Here's something new and different from NCRC to encourage hope, creativity and a Just Economy: afterth.is.
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