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** Just News
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for January 28, 2022
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]) , LinkedIn ([link removed]) and Instagram ([link removed]) .
** Announcements
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Call for Submissions: Speak at the 2022 Just Economy Conference
As we plan to return to an in-person Just Economy Conference, what conversations do you want to lead? What new ideas can you bring to the table to help us imagine and create a just economy? What topics are most critical as we continue to deal with an economy ravaged by a global pandemic? [Submit Now ([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]) ]
** News
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NCRC and New York Community Bancorp Announce $28 Billion Community Benefits Agreement to Support Communities of Color, Small Businesses, and Ongoing Commitment to Responsible Multi-Family Lending
The agreement includes $22 billion in community lending and affordable housing commitments and $6 billion of residential mortgage originations to underserved and LMI borrowers and in LMI and majority-minority neighborhoods over a five-year period. [Read more ([link removed]) ]
NCRC Hires Gregory Dyson As COO
Meet Gregory Dyson ([link removed]) , NCRC’s new Chief Operating Officer! As COO, he will be instrumental in developing NCRC’s strategic priorities and all of the organization’s day-to-day operations. [Read more ([link removed]) ]
HUD Awards More Than $51 Million in Grants to Support Housing Counseling Programs, Partnerships with Minority Serving Institutions, and Training
By U.S. Department of Housing and Urban Development
The funding supports housing counseling agencies in their critical work to stem the tide of the COVID-19 pandemic’s impact on housing, maintain housing stability by helping families with foreclosure and rental eviction prevention, and help families make more informed housing choices. [Read more ([link removed]) ]
** Views
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Goodbye “Race Neutrality”—The Case for Race-Conscious Economic Policy
By Dedrick Asante-Muhammad
Making a meaningful dent in the level of structural racial economic inequality in this country requires change throughout the US finance system—in our financial regulations, within our financial institutions, and in the lending and investments done by financial institutions. [Read more ([link removed]) ] [Also featured in Nonprofit Quarterly ([link removed]) ]
** Research
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NCRC 2020 Home Mortgage Report: Examining Shifts During COVID-19
By Jason Richardson, Joshua Devine and Jamie Buell
In this paper, the National Community Reinvestment Coalition’s Research and Racial Economic Equity teams completed a broad and detailed analysis of 2020 Home Mortgage Disclosure Act (HMDA) data. Our analysis revealed how the private mortgage lending market is failing to serve economically insecure households of color. This reinforces the racial divide in homeownership which props up the growing racial wealth divide. [Read more ([link removed]) ]
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]) ]
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]) .
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])
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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New York Community Unveils Investment Plan Tied to Flagstar Deal
By Jon Prior, American Banker
Under the deal with the National Community Reinvestment Coalition, New York Community will provide $28 billion in loans and other support to neighborhoods and small businesses. [Read more ([link removed]) ]
'Big Shift': Biden Moves to Rewrite the Rules on Climate Threat
By Victoria Guida, Politico
“That’s a real tension,” said Jesse Van Tol, president and CEO of the National Community Reinvestment Coalition. “There’s some really good ideas about how climate could be incorporated into CRA. On the other hand, I think there’s a strong desire to get this done quickly.” [Read more ([link removed]) ]
Who Did the Bay Area’s COVID Housing Boom Leave Behind?
By Lauren Hepler, San Francisco Chronicle
A new report by the National Community Reinvestment Coalition suggests that the pandemic frenzy heightened racial and economic inequality in housing across California and the rest of the US. [Read more ([link removed]) ]
** On Our Radar
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What's the Price of Community? Infrastructure Law Devotes $1 Billion to Reconnect Neighborhoods Split by Interstates
Mabinty Quarshie, USA Today
"There is racism physically built into some of our highways, and that’s why the jobs plan has specifically committed to reconnect some of the communities that were divided by these dollars,” Transportation Secretary Pete Buttigieg said in an interview with The Grio last year. [Read more ([link removed]) ]
Opinion: Why Are Minority-Owned Banks Disappearing? Washington Holds the Smoking Gun
By Gene Ludwig, Politico
Federal policy and practice, in other words, ensures that the rich get richer and poor get poorer during each turn of the economic cycle. Unless policymakers shift their approach, the Great Winnowing is almost certain to continue the next time the economy takes a dip. [Read more ([link removed]) ]
Texas Eviction Filings Among the Nation’s Highest as Millions of Rent Relief Dollars Go Unspent
By Joshua Fetchter, Texas Tribune
Eviction filings in several Texas cities are among the highest in the nation — even as millions of federal dollars aimed at helping struggling renters have sat unspent so long in some counties that the federal government is taking the money back. [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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