Just Released
More Tests And More Signs of Discrimination In PPP Lending By Banks
Despite published evidence and widespread media coverage of discrimination in the Paycheck Protection Program (PPP) bank loan application process, a second round of tests over the summer showed discrimination continued. [Read More]
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News
Study: After The Coronavirus Shutdowns, Employment Levels Rebounded Completely For White Entrepreneurs In North Carolina, But Not For Black Ones
Although active employment rates in North Carolina’s small businesses dropped broadly during the first six months of the COVID-19 pandemic, by the end of August the rate had returned to pre-COVID levels for White entrepreneurs, but was still down by 62% for Black business owners, a new study shows. [Read More]
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Views
Small Businesses Of Color Matter Too
By Jerome D. Williams, Sterling Bone, Glenn Christensen and Anneliese Lederer
Minority-owned businesses are vital to economic growth, but discriminatory lending hinders access to credit.
The death of George Floyd while in police custody has ignited long developing and smoldering embers of rage and frustration with systemic inequalities in criminal legal systems. [Read More]
COVID-19 Is Speeding Up White Flight: Now Is The Time To Invest In Affordable Housing
By Sabrina Terry and Jason Richardson
While a lot remains unclear about the long-term impact of COVID-19 — like the efficacy and access to a vaccine, the implications of shifting to more permanent remote work, and the prospect of permanent job losses — however, one thing is certain: There will be permanent changes to how people work and where they live. Some more than others. [Read More]
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Policy
NCRC Initial Analysis Of Federal Reserve’s ANPR On The Community Reinvestment Act: A Step Forward But Needs To Be More Rigorous
By Josh Silver
The Federal Reserve Board has issued an Advance Notice of Proposed Rulemaking (ANPR) on the Community Reinvestment Act (CRA). The ANPR proposes to build upon the existing CRA exam structure of separate tests for retail and community development activity. The board is exploring how to create assessment areas, geographical areas on CRA exams that receive ratings, that will capture lending and deposit-taking activity outside of branch networks. [Read More]
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Research
Lending Discrimination During COVID-19: Black and Hispanic Women-Owned Businesses
NCRC, in collaboration with our academic partners, conducted 60 pre-application mystery shopper tests by telephone with 47 different financial institutions in the Los Angeles, California, metropolitan statistical area (MSA) from July 27 to August 7, 2020, during the last two weeks that federal Paycheck Protection Program (PPP) loans were available to businesses impacted by the coronavirus pandemic. [Read More]
Racial Wealth Snapshot: Immigration and The Racial Wealth Divide
By Dedrick Asante-Muhammad and Sally Sim
The United States has more immigrants than any country in the world. In 2018, approximately 44.7 million immigrants lived in the United States, accounting for 13.7% of the country’s population. Although immigration has always played a key role in the history and the making of the United States, from the colonial era to the California gold rush and Ellis island, the United States recently saw immigration slow down during the Great Recession. [Read More]
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Field Notes
With COVID-19 Taking A New Toll, A Poor Black Community In Alabama Awaits Justice For A 2008 Industrial Disaster
By Rose Ramirez and Brad Blower
More than three years after the National Community Reinvestment Coalition (NCRC) and the South Alabama Center for Fair Housing (SACFH) filed a housing discrimination complaint with the Deparment of Housing and Urban Development (HUD) for the treatment of Black residents in an area known as Eight Mile, just north of Mobile, Alabama, there is still no resolution. [Read More]
Overcoming Barriers To A Just Economy: Nikole Hannah-Jones On Reparations And White Discomfort
By Maxim Applegate
What is owed to Black Americans for slavery, racial violence, segregation and the denial of rights and resources? Unfortunately, that’s a conversation White Americans largely won’t entertain. A Reuters/Ipsos poll earlier this year found only one in five respondents agreed the United States should use “taxpayer money to pay damages to descendants of enslaved people in the United States.” [Read More]
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Resources
Resources To Help Support The Black Lives Matter Movement
If you are interested in supporting Black Lives Matter, these resources may be helpful for you. [Read more]
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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Upcoming Events
Entrepreneurship And Economics
November 14, 12:00pm - 2:00pm EST / 4:00pm - 6:00 pm EST
Join us for a workshop focused on entrepreneurship and economics for justice-impacted people. We will discuss asset poverty, incarceration and financial insecurity, the pros and challenges of entrepreneurship, COVID’s impact on entrepreneurs and getting prepared for entrepreneurship with a conviction.
Register for the 12-2pm workshop | Register for the 4-6pm workshop
How America Banks: A Conversation About The 2019 FDIC Household Survey
November 17, 3:30 pm EST - 4:30 pm EST
Every two years the FDIC and the Census bureau produce a survey of how Americans households bank. Join NCRC and Karyen Chu, Chief of the FDIC Banking Research Section to discuss its methods and findings. [Register Now]
Developing Your Leadership Muscles
November 18, 2:00 pm EST - 3:30 pm EST
Join NCRC's Training Academy for a webinar as we lay out the foundation of the responsibilities of a leader and identify the skills necessary to be an effective leader. [Register now]
Small Business Brief Advice Legal Clinic
November 19, 12:00 pm EST - 5:00 pm EST
If you are an existing or aspiring small business owner, meet one-on-one with attorneys at this brief advice legal clinic. [Register now]
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In the News
Landmark Anti-Redlining Law Is in Trouble
By Paula Melton, Building Green
The CRA hasn’t removed “discrimination and structural barriers,” said Josh Silver, senior advisor at the National Community Reinvestment Coalition. And though “it’s been working well” overall, he said, the last time the CRA saw major reforms was in 1995. [Read More]
Devaluing Black Neighborhoods: Redfin Accused of the Latest Form of Redlining
By The Baltimore Sun Editorial Board
Neighborhoods once marked in red on maps by bankers and realtors as high risk areas are in many cases still struggling to catch up in value to white neighborhoods that were systemically given an advantage. Today, these neighborhoods are low to moderate income, according to one analysis by the National Community Reinvestment Coalition, and located in cities with incessant economic inequalities and extremely segregated neighborhoods. [Read More]
The Pandemic Worsened America’s Housing Crisis. Here’s How Biden Can Help
By Nate Berg, Fast Company
Biden’s administration will also likely begin working on a few of the key issues outlined in his campaign’s housing plan, including investing in energy efficient buildings and expanding access to affordable housing vouchers. A major focus will be addressing widespread housing discrimination, according to Gerron Levi, senior director of government affairs at the National Community Reinvestment Coalition. [Read More]
JPMorgan Chase Announces Brian Lamb as Global Head of Diversity & Inclusion
By JPMorgan Chase & Co.
Throughout his career he has remained passionate about diversity and inclusion. Notably, he partnered with the National Community Reinvestment Coalition to launch a $30 billion community commitment that focused on access to capital for small businesses, first-time home ownership and educational opportunities for underserved communities and people of color. [Read More]
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On Our Radar
Biden Is Set to ‘Undo the Trump Years’ With Civil Rights Pivot
By Erik Larson, Bloomberg
The Civil Rights Division of the U.S. Justice Department is headed for a dramatic makeover under President-elect Joe Biden, who has pledged to make racial equality a centerpiece of his agenda. [Read More]
Disinvested: How Government and Private Industry Let the Main Street of a Black Neighborhood Crumble
By Tony Briscoe, Haru Coryne, Mick Dumke, ProPublica
A ProPublica investigation tells a different story. We examined a series of government programs touted as engines for redevelopment, explored the ownership histories of numerous commercial properties over a mile-long stretch of the street, and conducted dozens of interviews with current and former East Garfield Park residents, property owners, local government officials and others. [Read More]
FHFA Approves Classic FICO for Fannie Mae, Freddie Mac
By Kelsey Ramírez, Housing Wire
The Federal Housing Finance Agency announced Tuesday the validation and approval of the Classic FICO credit score model for Fannie Mae and Freddie Mac. [Read More]
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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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