NCRC And HSBC Announce $25 Million Partnership
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Just News
for November 22, 2024
News and views from the National Community Reinvestment Coalition. Find more at ncrc.org ([link removed] ) .
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News
NCRC And HSBC Announce $25 Million Partnership To Advance Economic Opportunities In Low- And Moderate- Income Communities
By NCRC
HSBC has committed $10 million in loan subsidies to support homebuyers, particularly in low- and moderate-income, diverse and underserved communities. $3.5 million of these subsidies will be allocated to certain California markets to address specific community development needs. [Read more ([link removed] ) ]
NCRC Receives $1.3 Million USDA Grant For SNAP Workforce Development Programs
By NCRC
The grant expands NCRC’s capacity to provide technical assistance and promote best practices through conferences and meetings, peer-to-peer learning networks, toolkits, checklists and curricula and professional development opportunities for member organizations. [Read more ([link removed] ) ]
Views
Neighborhood Mental Health Outcomes Are Connected To Mortgage Lending Volumes, New Study Finds
By NCRC
The study found that, in most of the 18 major US metropolitan areas analyzed, neighborhoods with more mortgages issued reported better mental health outcomes. [Read more ([link removed] ) ]
CFPB Study Confirms Advocates’ Findings That Small Business Lending Has A Big Racial Discrimination Problem
By Lauren Wolters
They found bank staff nearly twice as likely to express an interest in lending to the White testers, despite the Black testers presenting stronger materials. Bank staff also steered Black testers toward credit card products and mortgages significantly more often than in conversations with White testers. [Read more ([link removed] ) ]
Videos
Just Economy Conversations: Preserving Homeownership and Wealth Creation by Addressing Heirs’ Property and Tangled Titles
By NCRC
Presenters discussed residential heirs’ property in urban and rural areas, describing the risks they pose for long-term homeownership and the limits they place on family wealth building. They also considered proposed housing finance solutions needed to support heirs’ property owners and successful efforts in New York City, with a focus on lending programs that include eligibility for heirs’ property owners. [Watch here ([link removed] ) ]
Research
The Racial Wealth Gap 1992 to 2022
By Joseph Dean
Black households are increasingly dependent on homeownership as a wealth-building strategy. Yet homeownership is out of reach for most low- and moderate-income (LMI) families. [Read more ([link removed] ) ]
Events
2024 APPAM Fall Research Conference
November 23, 3:30 - 5 pm ET
In this session, we will define and explore banking deserts, track trends in branch closures, provide an overview of the current banking desert landscape in the U.S., delve into the implications of banking deserts, including impacts on special populations and the rise of Fintech solutions and mobile banking in underserved areas, and consider the policy implications and solutions at the federal level that address banking deserts. [Register here ([link removed] ) ]
Illinois Community Reinvestment Act Roundtable
December 6, 10 am - 12 pm ET
Join for a presentation and Q&A with CRA experts to learn more about what the IL CRA does, how it can benefit your community, and how you can connect with new partners, followed by a chance to connect with community-based organizations and IL CRA covered lenders. Light refreshments will be served. [Register here ([link removed] ) ]
In The News
Trump's FDIC Has Work Cut Out For It In Repairing Culture
By Ebrima Santos Sanneh, American Banker
"If the presumed new chairman wants to demonstrate his good faith and commitment to addressing these issues, he will continue to voraciously advocate for checks and balances on his own power over the staff culture as he has when he was in the minority," Jesse Van Tol said. [Read more ([link removed] ) ]
HSBC Commits $25 Million To NCRC Partnership Following Redlining Allegations
By Flávia Furlan Nunes, HousingWire
“What began as a dispute turned into a conversation that will now expand a powerful bank’s work on behalf of lower-income communities, communities of color and other places that the whole banking industry has historically overlooked,” Jesse Van Tol, president and CEO of NCRC, said. [Read more ([link removed] ) ]
On Our Radar
Senator Warren Urges Fed To Keep Wells Fargo Asset Cap
By Pete Schroeder, Reuters
Long a thorn in Wells Fargo's side, Warren cannot force the Fed's hand but her letter can pressure it to take a tough line and highlight the bank's missteps. [Read more ([link removed] ) ]
Brooklyn Needs Housing. She Has a Vacant Lot. Why Can’t She Build?
By Mihir Zaveri, New York Times
A property owner’s effort to develop an apartment building in a popular neighborhood has been stymied for years. She may just give up. [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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