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** Just News
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for March 11, 2022

News and views from the National Community Reinvestment Coalition. Find more at ncrc.org.

For continuous updates, follow us on Twitter ([link removed]) , FB ([link removed]) , LinkedIn ([link removed]) and I ([link removed]) G ([link removed]) .


** Announcements
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2022 Just Economy Conference
The Just Economy Conference is back, live in DC June 13-15. Don't miss it. [Register here ([link removed]) ]


** News
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NCRC Statement on President Biden’s Executive Order on Cryptocurrencies and Other Digital Assets
National Community Reinvestment Coalition (NCRC) President and CEO Jesse Van Tol on Wednesday made a statement in response to President Biden’s executive order for a “whole-of-government” approach to regulating digital assets. [Read more ([link removed]) ]

NCRC Community Development Fund Named to Fast Company’s Annual List of the World’s 50 Most Innovative Companies for 2022
The pandemic impact has been acutely felt by Black-, Latino- and Woman-owned businesses, and NCRC CDF rose to the challenge, flexing its muscle by deploying $17 million in grants, PPP loans, low-interest rate capital, and small business investments at a time when these entrepreneurs needed it most. [Read more ([link removed]) ]

NCRC Remarks to Federal Regulators on US Bank Merger
Jesse Van Tol, President and CEO of NCRC, provided testimony on March 8, 2022, to regulators reviewing the proposed merger of U.S. Bancorp and MUFG Union Bank. [Read more ([link removed]) ]


** Views
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The Nation Needs to “Reckon” with the Economic Marginalization of Native Americans
By Dedrick Asante-Muhammad, Esha Kamra, Connor Sanchez
Over the last two years, there has been much discussion of a national “reckoning” on race. There can be no complete reckoning without a strong analysis and substantive action to address the economic marginalization of Native Americans in 21st century America. The federal government has intentionally separated American Indians from the wealth and assets that were rightfully theirs through years of policies that stripped them of their lands and resources. [Read more ([link removed]) ]


** Field Notes
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NCRC Member Profile: Lower Marshall-Shadeland Development Initiative
NCRC’s membership includes more than 600 community-focused organizations in 44 states. Here’s an introduction to one of them, the Lower Marshall-Shadeland Development Initiative (LMSDI) in Pittsburgh. [Read more ([link removed]) ]


** Policy
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Position Paper on CRA Reform
By NCRC
CRA has been instrumental in leveraging bank financing for retail lending and community development in low- and moderate-income (LMI) communities since its passage in 1977. This position paper describes important subjects for CRA reform. [Read more ([link removed]) ]


** Research
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Racial Wealth Snapshot: Women, Men, and Racial Wealth Divide
By Dedrick Asante-Muhammad, Esha Kamra, Connor Sanchez
This snapshot will briefly review the socio-economic differences between men and women and highlight how those differences intersect with racial and ethnic disparities in the United States.[Read more ([link removed]) ]


** Events
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2022 National Interagency Community Reinvestment Conference: Pursuing Racial Equity By Eliminating Barriers And Promoting Economic Access
March 15, 10:15 am EST - 11:15 am EST
Join NCRC’s Chief of Membership, Policy and Equity Dedrick Asante-Muhammad for a session that will provide a framework for understanding the issue of racial equity from the perspectives of policy, community-based efforts, and investments to illuminate a pathway for building sustainable wealth among excluded households.
[Register here ([link removed]) ]

Navigating Foreclosure Part III: Rebuilding After Foreclosure
March 15, 2:00 pm EST – 3:30 pm EST
After foreclosure, counselors are tasked with using tools and resources to create a road map that will ultimately help clients accomplish their housing and financial goals. If you have questions about topics that should be covered when helping clients to rebuild, then join us for this discussion.
[Register here ([link removed]) ]

27th Annual Consumer Financial Services Institute
March 17 - 18, 9:00 am EST – 5:00 pm EST
Please join NCRC’s General Counsel Brad Blower, who will be speaking at the 27th Annual Consumer Finance Services Institute on March 17.
[Register here ([link removed]) ]


** In the News
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U.S. Bank Looks to Assuage Community Advocates at Merger Hearing
By Dan Ennis, Banking Dive
Jesse Van Tol, CEO of the National Community Reinvestment Coalition, acknowledged the listening sessions U.S. Bank held — which, by the bank’s estimate, took in feedback from more than 200 community leaders. Van Tol characterized the talks as “productive, but they are not yet resolved.” [Read more ([link removed]) ]

The 10 Most Innovative Companies with Fewer than 10 Employees
By Erin Schulte, Fast Company
In the wake of a pandemic that hit Black, brown, and low-income communities disproportionately, the NCRC Community Development Fund (CDF)—a subsidiary of the National Community Reinvestment Coalition—amassed millions in capital to help these communities recover. [Read more ([link removed]) ]

Community Groups Withhold Support of US Bank-Union Bank Deal — for Now
By Polo Rocha, American Banker
Before regulators approve any merger, they should require a “forward-looking commitment that demonstrates clearly significant public benefits,” Jesse Van Tol, president and CEO of NCRC, said at Tuesday’s hearing. [Read more ([link removed]—%20for%20now&text=Key%20community%20groups%20told%20regulators,series%20of%20tangible%20public%20benefits) ]


** On Our Radar
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More Air Pollution Present in Areas with Historical Redlining
By UW News staff, UW News
Despite dramatic improvements in air quality over the past 50 years, people of color at every income level in the United States are exposed to higher-than-average levels of air pollution. While this disparity has been widely studied, the links between today’s air pollution disparities and historic patterns of racially segregated planning are still being uncovered. [Read more ([link removed]) ]

Regulators Expect to Release CRA Revamp as Soon as This Month
By Jon Prior, American Banker
While the final details are still under debate, the key takeaway, according to Gardineer, is that regulators are committed to “having a level playing field” with “the agencies speaking with one voice.” [Read more ([link removed]—%20Federal%20banking%20regulators,this%20month%2C%20officials%20said%20Monday) ]

How War in Ukraine Drives Up Inflation at U.S. Farms, Supermarkets, Retailers
By Patrick Thomas and Alistair MacDonald, The Wall Street Journal
The conflict is stressing an already strained global supply chain, and its economic impact will likely be felt in households world-wide, at supermarkets, retailers and the gas pump. While higher costs will take time to work their way from producers to consumers, executives and analysts expect the war’s fallout to worsen inflation already stoked by shortages of goods and workers. [Read more ([link removed]) ]

What Home Prices Will Look Like in 2023, According to Fannie Mae
By Lance Lambert, Fortune
“The effect of buyers being priced out should mean fewer bidding wars and slower house price appreciation,” wrote Fannie Mae economists in their latest outlook. [Read more ([link removed]) ]


** Resources
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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]) ]

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])

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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