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News
NCRC Statement On OCC’s Proposed CRA Thresholds
Last week, 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]
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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
Initial NCRC Analysis Of OCC Proposal To Establish Thresholds For Its 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]
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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]
Redlining and Neighborhood Health
NCRC report shows that there is a higher prevalence of COVID-19 risk factors in historically “redlined” neighborhoods. This paper is one of the first of its kind to examine historical redlining in cities across the nation on numerous present-day neighborhood health outcomes. [Read more]
Lending Discrimination Within the Paycheck Protection Program
Before COVID-19, tests revealed better treatment of White applicants for small business bank loans compared to Black ones. Matched-pair tests revealed similar disparities for PPP loan applicants. [Read more]
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Field Notes
What Do Women Entrepreneurs Need In Today’s Business Climate?
By Monti Taylor
Women entrepreneurs have always faced many challenges, including access to capital, technical training, work-life balance and discrimination in pay. Black entrepreneurs face an even greater disparity. [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
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]
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In the News
This is Philadelphia's Largest, Newest Coalition Combating Poverty - Generocity Philly
By Brandon Dorfman, Generocity
A report from the National Community Reinvestment Coalition shows that over the decade-plus between 2000 and 2013, gentrification caused the Black population to decline in 16 census tracts across Philadelphia. The cost of living increased, and affordable housing units became sparse. Over 20,000 low-cost housing units disappeared from the city since the turn of the century. [Read More]
In Block After Block of City Neighborhoods in Erie, There's Not a Bank to Be Found
By Sophie Kasakove and Jim MartinKevin Flowers, Erie Times-News
A study by the National Community Reinvestment Coalition, known as NCRC, found that the United States lost about 6,000 of its 95,000 bank branches between 2016 and 2018. Of those branches that closed, 82% were in urban ZIP codes. [Read More]
Port Arthur’s Ike Mills advocates for Justice for Black Farmers Act
By I.C. Murrell, Port Arthur News
Ike Mills, executive director of Texas AgriForestry Small Farmers and Ranchers (TASFR), said he met with Elizabeth Warren at a National Community Reinvestment Coalition Conference in Washington, D.C., approximately three years ago as part of discussions regarding the Community Reinvestment Act affecting Black communities, farmers and ranchers. [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]
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On Our Radar
More Than Half of Emergency Small-business Funds Went to Larger Businesses, New Data Shows
By Jonathan O'Connell, Andrew Van Dam, Aaron Gregg and Alyssa Fowers, The Washington Post
The newly released data comes after a federal lawsuit filed by The Washington Post and 10 other news organizations under the Freedom of Information Act challenging the SBA’s refusal to release records on borrowers and loan amounts. [Read More]
Companies Whose Boards are Entirely White Men Could be Delisted from Nasdaq's US Stock Exchange under New Proposals
By Grace Dean, Business Insider
Nasdaq said listed firms should have at least one female director and one director who identifies as an underrepresented minority or LGBTQ+. [Read More]
The ‘Everything Rally’: Vaccines Prompt Wave of Market Exuberance
By Robin Wigglesworth, Financial Times
The prospect of a rebound in the global economy has fuelled optimism despite the economic damage from the pandemic. [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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