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** Just News
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for December 9, 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]) .
** End of Year - Donate
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Another year is winding down. Inequality isn’t.
With you, the National Community Reinvestment Coalition aims for a nation that not only promises but actually delivers to all Americans opportunities to build wealth and live well. We can’t do it alone. Donate to NCRC to help us carry on the good fight for a Just Economy. [Donate Now ([link removed]) ]
** Announcement
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The CFPB's Section 1071 Comment Deadline Coming Up
The deadline to submit comments on the CFPB's Advance Notice of Proposed Rulemaking on Section 1071 Small Business Lending Data Collection is fast approaching - Thursday, January 6, at 11:59 pm ET. We've prepared sample comments you can use to create and personalize yours, and instructions on how to submit your comment. [Submit comment ([link removed]) ]
** Views
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Mystery Shopper Tests Show Continuing Racial Discrimination in Small Business Lending at Banks, Made Worse by a Dash of Socioeconomic Bias
By Anneliese Lederer
A new NCRC study found not only racial bias in small business lending, but an even deeper bias against Black testers with perceived low socioeconomic status. [Read more ([link removed]) ]
HUD Takes Important Step to Clearly and Unequivocally Support Special Purpose Credit Programs
By Brad Blower
HUD’s action was long overdue. Its guidance ended decades of silence on the issue by the agency and is completely consistent with the Biden administration’s goal of addressing the racial wealth gap. [Read more ([link removed]) ]
** News
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‘ShopHER’ At Union Station Pops Up for DC Shoppers
ShopHER is specifically designed for women-owned small businesses that were hurt by the COVID pandemic and are seeking to re-establish their retail operations. It will help vendors generate revenue and achieve stability with the goal of returning to their own retail space. [Read more ([link removed]) ]
** Policy
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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 ([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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Does Perceived Socio-Economic Status Impact Access to Credit in the Small Business Arena?
By Anneliese Lederer, Sara Oros, Dr. Sterling Bone, Dr. Maura Scott, Dr. Glenn Christensen
A new set of tests by NCRC found the customer experience was worse for Black testers compared to White testers, especially for those with lower perceived socioeconomic status. [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
For nonprofits and social sector ventures in DC: Do your work and meetings at the new Just Economy Club in DC. It’s hosted by NCRC 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
America should not only promise but deliver to all Americans opportunities to build wealth and live well. Sign the pledge and share it to help us expand the movement for a Just Economy. [Sign and Share ([link removed]) ]
Member Hub
NCRC members: Don't forget you have access to our 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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HUD ends silence on targeted lending programs
By Georgia Kromrei, HousingWire (subscription required)
“This was low-hanging fruit,” said Brad Blower, general counsel of the National Community Reinvestment Coalition. “It’s already allowable under the law. Regulators are comfortable with it. It doesn’t have to go through regulatory approval or Congress. It was just a logjam of inertia.” [Read more ([link removed]) ]
Opinion: Branch Deserts Created by Bank Closures Leave Oregonians High and Dry
By Cory Freeman, Portland Business Journal
“Branch deserts” are emerging in communities across the nation, requiring people living in primarily lower-income and minority areas to travel long distances to access in-person financial services, according to a recent report by the National Community Reinvestment Coalition (NCRC). [Read more ([link removed]) ]
First Merchants Releases its First Comprehensive Corporate Social Responsibility Report
By The Gary Crusader
Among the many focused initiatives, First Merchants is currently investing $1.4 billion in the low- and moderate-income communities it serves over five years through a partnership with the National Community Reinvestment Coalition (NCRC).
[Read more ([link removed]) ]
** On Our Radar
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Three Myths of the Great Resignation
By Derek Thompson, The Atlantic
The “Great Resignation” remains one of the buzziest economic stories of 2021. More Americans left their job in April this year than in any other month on record, according to the Bureau of Labor Statistics’ analysis of what it calls “quits.” [Read more ([link removed]) ]
The Delta Variant & the Disproportionate Impacts of COVID-19 on LGBTQ Households in the U.S.
By Movement Advanced Project
The Delta variant and the ongoing uncertainty related to the pandemic continue to result in disproportionate impacts on LGBTQ people, through economic and health challenges from the pandemic as well as the struggle to manage work and childcare responsibilities. [Read more ([link removed]) ]
Biden Nominee Withdraws Name to Lead OCC Banking Watchdog
By Jesse Hamilton and Jennifer Epstein, Bloomberg
The White House’s pick to lead a key U.S. banking regulator, Saule Omarova, has withdrawn her name from consideration, with President Joe Biden citing “inappropriate personal attacks” as undermining her candidacy. [Read more ([link removed]) ]
Support our work
Join the Just Economy Club, the network for individuals who support NCRC’s research, publishing, investigations, training, advocacy and programs.
Join Here ([link removed])
Jobs
We are always looking for talented people.
Click here to see job openings. ([link removed])
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