$16 Billion Community Benefits Plan, Support Black-owned businesses 

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** Just News
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for February 26, 2021

News and views from the National Community Reinvestment Coalition. Find more at ncrc.org. For continuous updates, follow us on Twitter ([link removed]) and Facebook ([link removed]) .


** Reminders
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Forum & Hub
NCRC members: Don't forget you have access to our forum ([link removed]) and member hub ([link removed]) ! Learn more about membership here ([link removed]) . You can join as an organization or an individual ([link removed]) .

Conference
Register now ([link removed]) for the 2021 Just Economy Conference!


** News
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First Citizens Bank Announces $16 Billion Community Benefits Plan With NCRC
First Citizens Bank announced today a $16 billion community benefits plan — developed in collaboration with the National Community Reinvestment Coalition (NCRC) — that builds on its work to reinvest in low- and moderate-income (LMI) communities and neighborhoods of color. [Read More] ([link removed])

Jennifer Powers Promoted To National Vice President Of Acquisitions At GROWTH By NCRC
The NCRC Housing Rehab Fund, LLC (NCRC HRF), marketed as GROWTH by NCRC, has appointed Jennifer Powers as National Vice President of Acquisitions. [Read More] ([link removed])


** Field Notes
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14 Black And Woman-Owned Brands To Support This Month
By Sade McKoy and Monti Taylor
Are you looking to support Black-owned businesses? As we continue to recognize and celebrate Black History Month, we want to encourage you to support Black-owned businesses. [Read More] ([link removed])

Illinois Responds To Systemic Racism With 36% Rate Cap
By Gordon Mayer
Widespread support for Illinois’ Predatory Loan Prevention Act, SB 1792, shows some good is coming after a year of violence, chaos and pandemic. [Read More] ([link removed])


** Research
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Are Loan Modifications For Small Businesses A Possibility In The COVID-19 Pandemic?
By Anneliese Lederer and Sara Oros
A Survey Of Race And National Origin And Access To Small Business Loan And Rental Modifications. [Read More] ([link removed])

How Can Geographical Areas On CRA Exams Work For Branchless Banks?
Regulatory agencies should consider loans per thousand people to identify Community Reinvestment Act assessment areas for branchless banks. [Read More] ([link removed])


** Resources
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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] ([link removed])

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] ([link removed])


** Events
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Racism and the Economy: Focus on Housing
March 1, 2:00 pm EST - 4:00 pm EST
Virtual video event presented by all 12 District Banks of the Federal Reserve System. [Register now] ([link removed])

HUD Exam Prep - Session 3 (Members Only)
March 9, 4:00 pm EST - 6:30 pm EST
Join NCRC's Housing Counseling Network as we move into our 3rd session tackling Default Resolution/Foreclosure Prevention. [Register now] ([link removed])


** In the News
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What Is Redlining? How Residential Segregation Shaped U.S. Cities
By Jameelah Nasheed, TeenVogue
According to the National Community Reinvestment Coalition, 74% of neighborhoods that were redlined by the HOLC are low- and moderate-income today, and 64% of those redlined communities are minority neighborhoods. [Read More] ([link removed])

In Gentrifying Atlanta, Black-Owned Food Businesses Are Banding Together to Survive—and Thrive
By Hilary Cadigan, bon appétit
According to a 2019 report published by the National Community Reinvestment Coalition, New York City, Los Angeles, Washington, D.C., Philadelphia, Baltimore, San Diego and Chicago account for nearly half of the country’s gentrification. [Read More] ([link removed])

First Citizens Commits $16 Billion to Community Development Lending
By Laura Alix, American Banker
Large-dollar community reinvestment plans often follow announcements of bank mergers, though the pandemic and nationwide protests over racial injustice have put more pressure on banks to address income inequality in the U.S. First Citizens said it worked with the National Community Reinvestment Coalition and its member organizations to develop the plan announced on Monday. [Read More] ([link removed])

Closing the Racial Wealth Gap and the Case for Reparations
By Steve Dubb, Nonprofit Quarterly
Dedrick Asante-Muhammad is Chief of Race, Wealth and Community for the National Community Reinvestment Coalition, an economic justice nonprofit advocacy group based in Washington, D.C., and was a co-author of the 2017 Road to Zero Wealth. [Read More] ([link removed])


** On Our Radar
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Fed's Powell Sees Opportunity for Joint CRA Overhaul
By Hannah Lang, American Banker
Federal Reserve Chair Jerome Powell said bank regulators still aim to write a universal rule updating the Community Reinvestment Act, despite years of disagreement between the agencies on how to proceed. [Read More] ([link removed])

TIAA Names JPMorgan’s Thasunda Brown Duckett as CEO
By Justin Baer, The Wall Street Journal
Duckett is a leading voice among bankers in the need to close the wealth gap between White and Black Americans. [Read More] ([link removed])

Bias, Disrespect and Demotions: Black Employees say Amazon has a Race Problem
By Jason Del Rey, Vox
Interviews with diversity managers and internal data obtained by Recode indicate that Black Amazon employees are promoted less frequently and are rated more harshly than non-Black peers. [Read More] ([link removed])

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Donate to support NCRC's independent, nonprofit research, publishing, investigations, training, advocacy and programs.
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