Announcement
National Community Reinvestment Coalition, Equivico By NCRC, And The Stavros Niarchos Foundation (SNF) Announce Recipients Of Inaugural Small Business Grant Program
The program awarded $1.3 million to 65 small businesses through grants of up to $20,000 each that do not need to be repaid to fund projects that will help businesses across the U.S. pivot, drive innovation, and grow in a challenging economic landscape. [Read more]
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News
NCRC Submits Comment On Artificial Intelligence
The National Community Reinvestment Coalition (NCRC) submitted a detailed comment letter to five federal agencies yesterday, outlining how consumers should be protected when lenders use artificial intelligence (AI) and machine learning (ML) to underwrite loans. [Read more]
NCRC Applauds Congress, President For Nullifying The True Lender Rule
Today, President Biden signed into law the Congressional Review Act resolution to overturn the harmful True Lender rule. [Read more]
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Views
Health Practitioners And Advocates Provide CRA Comments On Fed’s ANPR
By Emily Orminski
Wealth equity is intrinsically tied to health equity. Hospitals and health systems are stepping into the community development arena more frequently as there are many opportunities for them to partner with banks and other financial institutions to reduce economic disparities that could reduce health disparities.[Read More]
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Field Notes
The Mental Health Of Women Entrepreneurs: Challenges And Solutions
By Monti Taylor
Adessa Barker, a well-being practitioner and the host of the popular podcast, Attitude Changes Everything, spoke about the mental health of women entrepreneurs. [Read More]
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Research
The COVID Pandemic And Its Impacts On Culturally-Significant Businesses: Baltimore, MD, Washington, D.C.
By Sabiyha Prince, Jad Edlebi, Bruce C. Mitchell, Ph.D., Jason Richardson
This report examines the overlooked cultural role of small businesses. These businesses have a central place in establishing and maintaining the cultural vibrancy of their communities. [Read More]
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]
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Resources
Forum & Hub
NCRC members: Don't forget you have access to our forum and member hub! Learn more about membership here. You can join as an organization or an individual.
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]
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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Events
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]
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]
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In the News
Robinhood’s Secret Weapon Could Also Be Its Undoing
By Benjamin Pimental and Tomio Geron, Protocol
"We cannot stand by and allow algorithms to resurrect old biases in new packages, or introduce new forms of discrimination hidden in proprietary code." —National Community Reinvestment Coalition CEO Jesse Van Tol, joining fintechs PayPal, Square and others in a call for more guidance on how AI should be used in lending. [Read More]
Digital banking at U.S. Bank sped up during pandemic
By Kavita Kumar, Star Tribune
Last year, the advocacy group National Community Reinvestment Coalition raised concerns about this trend after tallying up more than 13,000 closures, or 14% of all branches, between 2008 and 2020. It issued a report that noted that such closures often disproportionately impact rural, low-income, and minority communities where few branches might have existed in the first place. [Read More]
Biden’s new dilemma: How to slash housing costs for low-income borrowers
By Katy O'Donnell, Politico
President Joe Biden’s move to fire the top U.S. mortgage regulator is triggering calls from fellow Democrats to use the agency to expand access to loans for lower-income people, who have struggled to buy homes since the financial crisis. “They knew this moment was coming,” said Jesse Van Tol, CEO of the National Community Reinvestment Coalition, a housing advocacy group. “Why don’t we already have a nominee?” [Read More]
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On Our Radar
Baltimore Awards More Than 30 Organizations With Grant Money to Help Transform the Charm City
By Ray Strickland, WMAR
The city of Baltimore awarded more than 30 organizations with nearly $6 million in grant money to help in their efforts to revitalize overlooked neighborhoods throughout the city.It was a part of the city’s Community Catalyst Grants Program. [Read More]
We Disagree on a Lot of Things. Except the Danger of Anti-Critical Race Theory Laws.
By Kmele Foster, David French, Jason Stanley and Thomas Chatterton Williams, The New York Times
What is the purpose of a liberal education? This is the question at the heart of a bitter debate that has been roiling the nation for months. [Read More]
Finding Fintech Opportunities Where Others Don’t
By Ilona Limonta-Volkova, Forbes
Almost half of Latino households are unbanked or underbanked. This means that they tend to turn to alternative financial services, which are often associated with nefarious interest rates. They also tend to be overlooked and underserved by large banks, exacerbating the problem. [Read More]
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Support our work
Join the Just Economy Club, the network for individuals who support NCRC’s research, publishing, investigations, training, advocacy and programs.
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