HUD reinstates critical fair housing rule and the House nullifies Trump's True Lender rule!
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** Just News
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for June 25, 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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Member Benefits Webinar
July 21, 1:00 pm ET - 2:00 pm ET
Join NCRC to learn what resources, services, content, and networking opportunities your membership includes and how being an NCRC member can help you in your fight for a #JustEconomy. [Register now ([link removed]) ]
Not a member? Join now ([link removed]) !
The Just Economy Pledge
Our economic and social fractures were devastating before COVID, and the pandemic was a painful reminder that inequality isn’t simply about how much stuff you have. It’s about life and death. [Read more ([link removed]) ]
** News
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NCRC Applauds HUD’s Reinstatement of Critical Fair Housing Rule
Today, the Department of Housing and Urban Development (HUD) published a rule reinstating its Discriminatory Effects Standard, which ensures that housing practices that appear neutral in their design do not create or perpetuate discrimination on the basis of race, ethnicity, religion and other groups protected under the Fair Housing Act. [Read more ([link removed]) ]
NCRC Applauds House for Resolution Nullifying True Lender Rule
Today, the US. House of Representatives voted 218-208 in favor of H.J. Resolution 35, a Congressional Review Act resolution concurrent to S.J. Resolution 15, to nullify the harmful Trump-era True Lender rule. [Read more ([link removed]) ]
Bold Leadership is Needed at FHFA to Address Access to Credit, Affordable Housing Crisis
This is a pivotal moment for Fannie Mae and Freddie Mac, for the mission in their charters, and the role they can and must play in facilitating access to affordable housing and affordable mortgage credit for low- and moderate-income (LMI) households, for families and communities of color and rural communities. [Read more ([link removed]) ]
** Policy
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Support for the Greater Supervision In Banking Act (H.R. 3948)
We are writing to urge your support for H.R. 3948, the Greater Supervision in Banking Act. The bill creates an important way to consolidate and make public information about bank governance and regulatory records, diversity and environmental efforts and other key practices at the nation’s most financially sophisticated and complex financial institutions. [Read more ([link removed]) ]
** Research
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Addressing the Needs of Black-Owned Businesses and Entrepreneurs
By Jamie Buell, Dedrick Asante-Muhammad, Talib Graves-Manns, Wilson Lester, Napoleon Wallace
Despite growth of Black entrepreneurship over the last decade, existing disparities between Black businesses and non-Black businesses is narrowing the pathway to greater employee and revenue growth for these firms. [Read More ([link removed]) ]
Landis’s Lease-To-Own Model & Black Homeownership
By Jamie Buell, Dedrick Asante-Muhammad
For most Americans, homeownership is the greatest wealth-building asset. However, Black homeownership continues to significantly lag behind White homeownership. This brief explores the potential for Landis, a lease-to-own homeownership company, to make homeownership more accessible for African Americans. [Read More ([link removed]) ]
** Resources
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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]) .
2021 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])
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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Nonprofit Sustainability for High Performing Organizations
June 28-30, 10:00 am ET - 3:00 pm ET
Join NCRC's in this training, where we will discuss developing a sustainability plan to meet long-term goals to help diversify revenue sources and increase sustainability efforts within your organization. [Register now ([link removed]) ]
NCRC Legislative/Regulatory Call
July 14,1:30 pm ET - 2:30 pm ET
Join NCRC in our monthly call to share major updates on NCRC policy work around the CRA, CFPB, mergers, and other news affecting our coalition of members. [Register now ([link removed]) ]
Member Benefits Webinar
July 21, 1:00 pm ET - 2:00 pm ET
Join NCRC to learn what resources, services, content, and networking opportunities your membership includes and how being an NCRC member can help you in your fight for a #JustEconomy. [Register now ([link removed]) ]
** In the News
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Mortgage Execs Begin Lobbying FHFA to Lift Lender Sales Cap
By Brad Finkelstein, American Banker
Possible permanent replacements for Calabria include economist Mark Zandi and Julia Gordon, president of the National Community Stabilization Trust and a former FHFA official. [Read More ([link removed]) ]
Nonprofit Investing $25 Million to Build Homes In Ensley
By Avalon Pernell, Birmingham Business Journal
Birmingham has given a green light to a $25 million deal with a national nonprofit that will build affordable homes in a historic neighborhood. [Read More ([link removed]) ]
Blacks Hospitalized for COVID-19 Face Higher Odds of Death
By Peter Urban, AARP
Asch noted a National Community Reinvestment Coalition study that found economic hardships persist in many of the majority Black neighborhoods that experienced “redlining” (systemic denials of home loans) decades earlier. [Read More ([link removed]) ]
Future of Housing Depends on Drawing Fairer Maps – A Conversation with New Orleans Activist Andreanecia Morris
By Khalil Abdullah, The Los Angeles Post
Andreanecia Morris’ passion for housing has made her one of New Orleans’ most ardent advocates of redistricting. [Read More ([link removed]) ]
** On Our Radar
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A Black-White Housing Gap Persists, but One D.C. Woman Persevered and Won
By Pam Fessler, NPR
Black and Hispanic families in the United States are far less likely than white families to own their own homes. It's been that way for decades, but the gap is wider today than it was before passage of the 1968 Fair Housing Act. [Read More ([link removed]) ]
Visa Buys Swedish Fintech Tink for $2.1 Billion After Plaid Takeover Blocked
By Iain Martin, Forbes
Visa has agreed to acquire Swedish startup Tink, which allows banks and startups to access consumer financial data and handles payments outside of traditional card networks like Visa’s, in a $2.1 billion deal (€1.8 billion). [Read More ([link removed]) ]
CDC Halts Evictions One More Month, Agencies Get More Time to Get Rental Money Moving
By Courtney Holmes, ABC News
The federal moratorium on evictions due to non-payment was extended by one month, the Centers for Disease Control and Prevention announced on Thursday. [Read More ([link removed]) ]
Baby Boomers’ Biggest Financial Risk: Cognitive Decline
By Randall Smith, The Wall Street Journal
For baby boomers who manage their own nest eggs, a risk is looming that has nothing to do with stock prices or interest rates. The risk is cognitive decline, which can rob them of their judgment, often without much warning. One big mistake—or a series of smaller ones—can go unnoticed by loved ones, and potentially ravage a lifetime of hard-earned savings. [Read More ([link removed]) ]
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