Announcement
The CFPB's Section 1071 Comment Deadline Coming Up
The deadline to submit comments on the Consumer Financial Protection Bureau’s (CFPB) Advance Notice of Proposed Rulemaking (ANPR) on Section 1071 Small Business Lending Data Collection is fast approaching - Thursday, January 6, at 11:59 pm ET. [Submit comment]
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The Legacy of Redlining on Black Maternal Health
By Samantha Autar
Redlining’s contribution to housing instability has led to overrepresentation of Black people among the homeless population, therefore increasing the risks for Black maternal health and birthing outcomes. [Read more]
Omarova Nomination Hearing Underscores The Urgency For CRA Reform, Including Stronger Consideration Of Race In Exams
By Adam Rust
In her confirmation hearing, Dr. Omarova indicated that if confirmed, she would support an added emphasis for considering race in CRA, address banking deserts and immediately seek to strengthen how the OCC holds banks accountable through better enforcement. [Read more]
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Field Notes
How Alexes Haggins is Continuing Her Father’s Legacy
By Monti Taylor
Alexes Haggins’ father, Bernard ran Flowers by Alexes, a local floral shop that was integral to his community. Difficult circumstances forced her father and ultimately her to close shop, but Alexes is now back and ready to open a new, modern floral shop with two soft openings during the holiday season before her grand opening in 2022. [Read more]
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News
NCRC Commends House for Passage of Biden’s Historic Build Back Better Act
The package contains $43 billion worth of important housing and homeownership provisions for affordable and accessible housing production, first-generation downpayment assistance, expedited equity and community restoration revitalization. They reflect NCRC’s continued advocacy to increase not only the opportunity for homeownership financing, but also the available inventory of affordable homes [Read more]
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Policy
NCRC Comment on FHFA Equitable Housing Finance Plans
The importance of homeownership for people of color, communities of color and LMI communities cannot be understated. Home equity accounts for 69% of American family wealth. [Read more]
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]
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Research
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]
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Resources
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 more]
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]
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]
Browse Our Collection of Racial Wealth Snapshots
Over the past two years, NCRC has put together a catalog of Racial Wealth Snapshots. [View all]
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]
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]
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]
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In the News
Nyssa, Oregon, Is Losing Its Last Bank
By Elizabeth Castillo, OPB
Nyssa’s lone bank is slated to close in January. Hear more about how that affects the town and what it means as more rural communities nationwide are faced with the same problem. Jason Richardson, the director of research and evaluation for the National Community Reinvestment Coalition, discusses in detail. [Read more]
Brainard’s Nomination Promotes a Close Powell Ally on Recent Fed Innovations
By Nick Timiraos, The Wall Street Journal
Ms. Brainard “almost single-handedly saved the Community Reinvestment Act and managed to get four Republican governors to vote for her outline,” said Jesse Van Tol, chief executive of the National Community Reinvestment Coalition. [Read more]
What Does Gentrification Mean to You?
By KPBS
While the sudden influx of wealth and development into certain neighborhoods may seem like a good thing on paper, quite often it also means the displacement of residents who have been living there for generations. According to a 2020 study by the National Community Reinvestment Coalition, the San Diego metro area is the 14th most-intensely gentrifying metro in the nation. [Read more]
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On Our Radar
Democrat Stacey Abrams Announces 2022 Bid for Georgia Governor
By Teaganne Finn, NBC News
Stacey Abrams said Wednesday that she is running for governor of Georgia, most likely setting up a rematch against Republican Gov. Brian Kemp. Abrams, a voting rights activist and former candidate for governor, took to social media to announce her campaign "because opportunity in our state shouldn’t be determined by zip code, background or access to power." [Read more]
Capital One Is the First Big Bank to Get Rid of Overdraft Fees
By Paul R. La Monica, CNN Business
Capital One made the announcement Wednesday, saying is it getting rid of all fees for overdrafts and non-sufficient funds. It will also continue to allow customers to get free overdraft protection on their accounts. That makes Capital One the first top-ten bank to stop penalizing clients for taking out more cash or writing checks for more money than they have in their account. [Read more]
Locked Out of Traditional Financial Industry, More People of Color Are Turning to Cryptocurrency
By Silvia Foster-Frau, Washington Post
Cryptocurrency started out as mostly a hobby for tech-savvy, financial wizards who had money to play with. But today, a growing number of Americans of color are participating in the $2 trillion global industry as a way to build wealth outside the traditional banking system, which many say has historically excluded and discriminated against their communities. [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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