News
NCRC Statement On OCC’s Proposed CRA Thresholds
Yesterday, the Office of the Comptroller of the Currency (OCC) released a proposed rule for establishing the Community Reinvestment Act (CRA) evaluation measure thresholds, retail lending distribution test thresholds, and community development minimums under the general performance standards set forth in the agency’s 2020 final rule. [Read More]
Home Lending Data Reveals Discrepancies In Latino Mortgage Lending
Latino borrowers paid substantially higher closing costs and interest rates for home purchase loans compared to non-Hispanic White borrowers, according to a new report from the National Community Reinvestment Coalition (NCRC) and UnidosUS. [Read More]
|
|
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]
|
|
Policy
Initial NCRC Analysis Of OCC Proposal To Establish Thresholds For iIs New CRA Measures
By NCRC
The OCC has proposed yet another data collection effort to develop thresholds for its flawed 2020 Community Reinvestment Act final rule. This is another tacit admission by the OCC that all along it has lacked the data and factual basis for developing its flawed revisions to CRA examination performance measures. [Read More]
|
|
Research
Hispanic Mortgage Lending 2019 Analysis
The report revealed dramatic differences in the costs and lending patterns for different subgroups of Hispanic borrowers, such as Cuban, Mexican and Puerto Rican borrowers. It also found that most Latino borrowers get their mortgages from non-bank mortgage companies and not from banks. [Read More]
|
|
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]
|
|
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]
|
|
Upcoming Events
Navigating Foreclosure: Preparation And Response – Part I: Establishing A Foreclosure Ready Agency
December 1, 2:00 pm EST - 3:30 pm EST
Join NCRC's Training Academy for to help you establish a foreclosure ready agency. [Register now]
Your Membership, Your Benefits: A Closer Look At NCRC Membership
December 3, 1:00 pm EST - 2:00 pm EST
Join NCRC to learn what resources, services, and networking opportunities your membership includes and how being a NCRC member can help you in your fight for a #JustEconomy. [Learn more]
Navigating Foreclosure: Preparation And Response – Part II: Fundamentals Of Foreclosure Counseling
December 8, 2:00 pm EST - 3:30 pm EST
Join NCRC's Training Academy to learn the fundamentals of foreclosure counseling. [Register now]
FinTech And Consumer Finance: Agenda For 2021
December 9, 12:00 pm EST - December 10, 4:30 pm EST
Join NCRC's General Counsel Brad Blower for a webinar to discuss the next chapter for fair lending. [Register now]
|
|
In the News
Residents Of NC’s Redlined Neighborhoods Have Higher COVID-19 Risk, Study Shows
By Sophie Kasakove, The News and Observer
People living in Durham neighborhoods that were racially redlined in the early to mid 1900s have a higher COVID-19 risk than people in neighborhoods that weren’t discriminated against, according to a study by the National Community Reinvestment Coalition. [Read More]
Exclusive: US Watchdogs Train Sights On Lender Misconduct In Pandemic Aid Program
By Koh Gui Qing, Lawrence Delevingne, Reuter
A study this month by the National Community Reinvestment Coalition, a Washington-based non-profit, also found that Black women and Hispanic men posing as interested PPP borrowers at 47 lenders “were treated less favorably” compared with their White counterparts, despite having stronger finances. [Read More]
Perspective | Black Businesses Are Fighting For Their Lives. We Can’t Afford To Lose Them.
By Michelle Singletary, The Washington Post
In two separate tests, the nonprofit National Community Reinvestment Coalition found that Black people seeking small-business loans under coronavirus relief programs were treated less favorably than Whites — even when they had stronger financial profiles. “Lenders not only discouraged the Black testers from applying for a loan, but simultaneously encouraged similarly situated White testers to apply for one or more loan products,” the first NCRC report said, noting that this discrimination violates the Equal Credit Opportunity Act. [Read More]
'They Underestimate What We Can Do': WFAA Finds Banks Exclude Blacks, Hispanics In Southern Dallas From Access To Loans
By David Schechter, Jason Trahan, Chance Horner, and T. Nicole Waivers, WFAA
A group called the National Community Reinvestment Coalition (NCRC) has tallied all the bank branches in Dallas County. Above I-30, there are 474. Southern Dallas has 58.In 1977, Congress attempted to remedy the practice of redlining with what became called the Community Reinvestment Act. The CRA encouraged banks to meet the credit needs of the entire community where they operate. “I think the bill … will provide us with a base or a framework on which we can make substantial improvements in the urban areas,” President Jimmy Carter said a day after he signed the bill. [Read More]
|
|
On Our Radar
OCC Proposal Prohibits Banks From Denying Lending To Oil, Gun Companies
By Dan Ennis, BankingDive
A rule proposed Friday by the Office of The Comptroller of the Currency (OCC) would prohibit banks with more than $100 billion in assets from denying services such as lending and payment processing to businesses in one industry over another as long as the potential client passes the risk assessment. [Read More]
WSJ News Exclusive | Janet Yellen Is Biden’s Pick for Treasury Secretary
By Nick Timiraos, Kate Davidson and Ken Thomas, The Wall Street Journal
President-elect Joe Biden plans to nominate former Federal Reserve Chairwoman Janet Yellen, an economist at the forefront of policy-making for three decades, to become the next Treasury secretary. [Read-More]
A Major Trump Donor’s Company Got A 3 Percent Government-Backed Pandemic Loan. It Sells Title Loans At A 350 Percent Annual Rate.
By Todd C. Frankel, The Washington Post
A company owned by a major donor to President Trump that operates auto-title loan stores with names such as LoanStar and Moneymax secured a $25 million low-interest loan from a government pandemic aid program, using what consumer advocates describe as a loophole to a rule designed to prevent most lenders from getting this federal help. [Read More]
|
|
|
|
|
#AfterThis: A Virtual Hug
Here's something new and different from NCRC to encourage hope, creativity and a Just Economy: afterth.is.
|
|
|
|
|
|
