President Biden Signs Order for More Oversight in Bank Mergers; Mental Health of Women Entrepreneurs
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** Just News
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for July 21, 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]) .
** Announcements
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NCRC Applauds Administration’s Announced Move to Rescind Disastrous Trump-Era CRA Rule Changes
The Office of the Comptroller of the Currency (OCC) announced this week it will propose to rescind its controversial Trump-era rules weakening the Community Reinvestment Act (CRA) and work with other banking regulators to adopt a clear, strong and consistent update to the CRA. [Read more ([link removed]) ]
Report: Women-Owned Small Businesses in DC Negatively-Impacted by COVID-19
DC Women’s Business Center surveyed 274 small business owners in the D.C. metro area to learn how the COVID-19 pandemic and economic downturn affected their businesses. [Read more ([link removed]) ]
** News
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NCRC Applauds Bills to Address Affordable Housing, Homelessness and Downpayment Assistance to First-Generation Homebuyers
Rep. Maxine Waters (D-California), Chairwoman of the House Committee on Financial Services, released a package of housing bills that would invest over $600 billion in the nation’s affordable housing infrastructure, address homelessness by transforming the Housing Choice Voucher program (Section 8) into a federal entitlement, and authorize $100 billion in targeted downpayment assistance to first-generation homebuyers to purchase their first home. [Read more ([link removed]) ]
NCRC Applauds Biden’s Executive Order Targeting Bank Mergers
President Biden signed an Executive Order promoting American competition and tackling excessive corporate consolidation across multiple sectors in the US economy. [Read more ([link removed]) ]
** Views
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Age-Friendly Banking And The First Citizens Bank Community Benefits Agreement
By Emily Orminski
With a growing elderly population, projected to nearly double from 52 million to 95 million in the next 40 years, age-friendly banking is more important than ever. [Read more ([link removed]) ]
** Research
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Women-Owned Small Businesses in the D.C. Metro Region: Challenges and Resilience During the Covid-19 Pandemic
By Heidi Sheppard, Monti Taylor, Bruce Mitchell, Ph.D. and Jason Richardson
Women-owned small businesses in the D.C. region have been hampered by the same barriers that women-owned businesses face nationally: a lack of access to traditional business capital, networks and opportunities. [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])
** In the News
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A Banking Regulator Says It Will Start Fresh on an Anti-Redlining Rule, Scrapping a Trump-Era Version
By Emily Flitter, The New York Times
Jesse Van Tol, the chief executive of the National Community Reinvestment Coalition, a nonprofit group that pressures banks to increase their activities in poorer neighborhoods, said he was pleased that the agency was “finally turning the page on this terrible rule.” [Read More ([link removed]) ]
Black Borrowers More Likely to Make Financial Sacrifices to Buy Homes
By DJ Shaw, National Mortgage News
“African Americans are much less likely to come from families, communities that have strong homeownership,” said Dedrick Asante-Muhammad, chief of membership, policy and equity at the National Community Reinvestment Coalition. “They're going to get a lot less assistance through generational wealth.” [Read More ([link removed]) ]
Low-Income Lending Rules Set for Broad Overhaul
By Andrew Ackerman, The Wall Street Journal
“The deeply flawed OCC proposal, hard fought by community advocates, has been deservedly put to its grave,” said Jesse Van Tol, the chief executive of the National Community Reinvestment Coalition, a fair-lending advocacy group. [Read More ([link removed]) ]
** On Our Radar
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Driven by COVID Deaths, U.S. Life Expectancy Dropped by 1.5 Years in 2020
By Allyson Chiu, Lindsey Bever and Ariana Eunjung Cha, The Washington Post
Life expectancy in the United States dropped by a year and a half in 2020 — a continuation of a worrisome decline that was observed in the first half of last year as the coronavirus pandemic ravaged the country. [Read More ([link removed]) ]
Americans’ Medical Debts Are Bigger Than Was Known, Totaling $140 Billion
By Sarah Kliff and Margot Sanger-Katz, The New York Times
A new study finds that health care has become the country’s largest source of debt in collections. Those debts are largest where Medicaid wasn’t expanded. [Read More ([link removed]) ]
$30 Million Memphis Medical District Investment Fund to Spur Inclusive Real Estate Development
By The Kresge Foundation
Pathway Lending and the Memphis Medical District Collaborative (MMDC), in partnership with First Horizon, Regions Bank, Truist, The Kresge Foundation and The Hyde Family Foundation, announced the launch of the Memphis Medical District Investment Fund, a $30 million capital fund dedicated to support development of residential and mixed-use projects in the Memphis Medical District. [Read More ([link removed]) ]
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