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** Just News
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for October 28, 2021

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


** News
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NCRC and M&T Bank Announce $43 Billion Community Growth Plan to Support Underserved and Communities of Color, Small Businesses
M&T Bank Corporation and the National Community Reinvestment Coalition announced today the bank’s plan to contribute $43 billion in loans, investments and other financial support to provide greater economic opportunity for low- and moderate-income families and communities and people and communities of color. [Read more ([link removed]) ]

NCRC Applauds DOJ, OCC, CFPB for Holding Trustmark Accountable for Fair Lending Violations
Trustmark National Bank announced that it had reached settlement agreements with the Department of Justice, the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau for alleged discrimination against Black and Hispanic communities and residents in Memphis, Tennessee. [Read more ([link removed]) ]


** Field Notes

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NCRC Member Profile: SAGE
By Sydney Kopp-Richardson
SAGE is a national leader in addressing issues related to lesbian, gay, bisexual and transgender (LGBTQ+) aging. In partnership with its constituents and allies, SAGE works to achieve a high quality of life for LGBTQ+ older people, supports and advocates for their rights, fosters a greater understanding of aging in all communities, and promotes positive images of LGBTQ+ life in later years. [Read more ([link removed]) ]


** Views

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Latino Housing Trends During COVID-19
By Jamie Buell & Joshua Devine
As the population of young Latinos, aged 18 to 35, continues to grow, protecting and expanding their economic progress during a national pandemic-induced crisis will be critical to their wealth-building trajectory. Lower-income Latinos are still falling behind on rent and mortgage payments, and younger Latinos rear losing their homes. [Read more ([link removed]) ]

To Preserve Pre-COVID Economic Growth for Latino Americans, Eliminating Racial Economic Inequality Must Be a Priority of Post-COVID Recovery
By Jamie Buell, Joshua Devine and Dedrick Asante-Muhammad
In honor of Latino Heritage Month, this is one in a series of NCRC snapshots and infographics exploring racial economic and wealth disparities and the economic conditions of various Latino nationalities. [Read more ([link removed]) ]


** Policy

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NCRC Comment On FHFA Equitable Housing Finance Plans
NCRC appreciates the opportunity to comment on FHFA’s Equitable Housing Finance Plans. This requirement promises to be robust and help narrow the racial homeownership gap if it is accompanied by local measurable goals targeted areas experiencing significant racial disparities, data on sales and appraisal gaps, a ratings system for measuring progress and public input requirements and involvement of groups that represent disadvantaged communities. [Read more ([link removed]) ]

NCRC Comment Letter On FHFA Affordable Housing Goals
The FHFA should more consistently push the GSEs to improve their performance in underserved markets in the single family and multifamily goal setting for the years 2022-2024. [Read more ([link removed]) ]


** Research

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Making CRA Relevant For A Changing Financial Services Industry
By Bruce Mitchell and Josh Silver
Because nonbanks have significantly increased their market share in key products, the ability of CRA to ensure access to credit and capital in LMI communities will decline if CRA is not expanded to nonbanks. [Read more ([link removed]) ]

Racial Wealth Snapshot: Latino Americans
By Dedrick Asante-Muhammad, Alexandra Perez and Jamie Buell
Latinos are the largest community of color and fastest-growing native born demographic in the United States. [Read more ([link removed]) ]


** Resources
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New Learning & Training Hub
Our new learning management system is live! It is designed with you in mind, offering a more robust experience for every kind of learner. [Learn ([link removed]) more ([link removed]) ]

A DC Hub for Nonprofits, Events and Work
The new Just Economy Club in DC, housed on the 3rd floor of NCRC’s headquarters at 740 15th St. NW, is designed for social sector nonprofits and events. It’s in the historic Union Trust building at 15th and H Streets, just around the corner from The White House. [Read more ([link removed]) ]

Browse Our Collection of Research and Reports
We have an extensive library of research and reports that dates back many years; now available in one convenient location! [View all ([link removed]) ]

Browse Our Collection of Racial Wealth Snapshots
Over the past two years, NCRC has put together a catalog of Racial Wealth Snapshots. [View all ([link removed]) ]

Sign and Share 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]) ]

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])

TreasureCRA Page
CRA will be essential for COVID-19 economic recovery in the communities hardest hit by the pandemic. Use the tools on this page to reach your friends and local leaders. [Read more] ([link removed])


** In the News
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M&T, Awaiting Fed’s Approval of Merger, Unveils Reinvestment Plan
By Allissa Kline, American Banker
The five-year plan, negotiated with the National Community Reinvestment Coalition, aims to increase the flow of private capital into underserved areas. It is the first of its kind for M&T, which has not completed an acquisition since 2015. [Read more ([link removed]) ]

Native American Groups Capitalize on Record Donations to Confront Chronic Hardship
By Anthony J. Wallace, The Guardian
Median income for Native households on reservations is $29,097, less than half the median household income for white Americans, according to the National Community Reinvestment Coalition. Native Americans on and off the reservation have the highest poverty rate of any race in the US, at 25.4%. The rate for the United States as a whole is 11.4%. [Read More ([link removed]) ]

Black Homeowners Become Fastest Growing Group in Real Estate
By Rachel Loyd, Spectrum News 1
While Black homeownership is on the rise, the gap between Black and white homeowners sits at 30 percent, and has been that way for the last century, according to the National Community Reinvestment Coalition. [Read More ([link removed]) ]


** On Our Radar
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Google Nearly Doubles Profit Behind Red-Hot Ad Market
By Tripp Mickle, The Wall Street Journal
The strong results underscored how the pandemic has turbocharged the company’s core advertising business. With retail foot traffic dwindling, marketers turned to Google to promote their products, delivering in a single year the kind of quarterly sales growth that the search giant typically records over a two-year span. [Read more ([link removed]) ]

Flaws in the Section 8 Program Leave Poor People rapped in ‘Monstrous, Depressing Places’
By Fred Clasen-Kelly, Yahoo News
A USA TODAY Network-Southeast investigation found that flaws in the federal government’s biggest rental assistance program - Section 8 - have left vulnerable people in the South living in substandard housing, in pay-by-the-week motels or doubled up with relatives. [Read more ([link removed]) ]

"Compromising" On $3.5 Trillion Social Safety Net Bill Harms Black Communities. We Can't Let That Happen.
By Dr. Amara Enyia & Maurice Mitchell, Essence
It is no compromise for well-paid politicians to cut the programs that make the difference between poverty and security, health and hunger for people who are consistently kept out of the political process. Compromise is the wrong word. This is a power play, and it is happening at the expense of some of the most vulnerable in our society. [Read more ([link removed]) ]

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