Announcements
2022 Just Economy Conference
The Just Economy Conference is back, live in DC, June 13-14. Don't miss it. [Register here]
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News
NCRC STATEMENT: Partial Foreclosure Moratorium Welcome News but Insufficient to Scope of Crisis
NCRC on Thursday released the following statement in response to the Federal Housing Finance Agency’s (FHFA) announcement of a 60-day moratorium on foreclosure activities against a subset of struggling Americans. [Read more]
NCRC, Morgan Stanley Announce New Equitable Development Fellowship Program
The community development fellowship matches top-level master’s degree students with premiere community development organizations. Both hosts and fellows must apply for this opportunity. Applications will be accepted until May 6, 2022. [Read more & apply]
Banks, Credit Unions and Consumer Groups Call for Passage of Bipartisan Solution to Close ILC Loophole
NCRC joined a broad coalition of bank and credit union associations and consumer organizations in submitting a letter Tuesday to the US House Committee on Financial Services urging passage of the Close the ILC Loophole Act, introduced by Representatives Chuy Garcia (D-IL) and Lance Gooden (R-TX). [Read more]
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Views
Recent CRA Exams Offer Hints for How to Improve Bank Accountability to Communities
By Josh Silver
A quick way to figure out what changes are needed in Community Reinvestment Act (CRA) regulations is to look at recent CRA exams, which illustrate how the most up-to-date examination techniques are shaping CRA outcomes. An informal survey of exams conducted in the last year identifies some areas with a glaring need for reform – and offers hints at what effective change might look like. [Read more]
Did the Primary Federal Small Business Loan Program Become More Inclusive During the Pandemic?
By Bruce Mitchell, PhD
SBA’s main-line loan program, known as 7(a), declined in overall volume during the pandemic. But the loans SBA did make in that period may have flowed more equitably than in previous time periods. [Read more]
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Field Notes
NCRC Member Profile: Center for Habitat Reconstruction
By Jorge Maldonano
NCRC’s membership includes more than 600 community-focused organizations in 44 states. Here’s an introduction to one of them, Center for Habitat Reconstruction (CRH), in San Juan, Puerto Rico, from CRH’s Lawyer Jorge Maldonano. [Read more]
DCWBC ShopHer Profile: Yul D’Uz
By Deb Almond
This is part of a series of profiles showcasing the talented entrepreneurs of ShopHER, a pop-up incubator for women-owned small businesses in the DC Metro Region. This week we talked to Yulia Semchenko, owner of Yul D’Uz. Yulia designs women’s outerwear and accessories using a traditional, handmade material from Central Asia called ikat. [Read more]
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Events
DCWBC: From Solopreneur to CEO: Build Your Business as an Emotionally Intelligent Leader
April 11, 11 am - 1 pm ET
Join NCRC to find out how to unlock the power of self-actualized emotional intelligence to transform your life and business. You will learn how to increase emotional intelligence and deploy your newfound knowledge to grow your small business. [ Register here]
NCRC’s Jason Richardson Speaking At FHCCI’s Fair Housing Conference
April 12, 3:45 - 4:45 pm ET
Join NCRC’s Senior Director of Research Jason Richardson to learn more about bank branch closures at the Fair Housing Center of Central Indiana’s (FHCCI) 10th Annual Fair Housing Conference (Virtual). [ Register here]
Nonprofit Quarterly’s Remaking The Economy: How To Design Democratic Management
April 14, 2 pm ET
In this webinar, panelists will discuss how to design workplaces that effectively balance organizational performance with democratic management and governance. [ Register here]
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In the News
Bank Branches Closing Across United States, and Locally
By Nikki Brahm, Greater Milwaukee Today
Downtown Waukesha residents may have noticed a few different bank branches throughout downtown Waukesha have closed over the years. According to NCRC, a nonprofit organization based in Washington, D.C., this is part of a nationwide trend. [Read more]
From Wall Street: Forget Owning. Rent the American Dream Instead
By Edward Gorman, GROWTH by NCRC
Also at issue is the lack of easy capital that flows to mega buyers like Tricon. The NCRC Fund, which has a mission of acquiring or building homes for individual owners in working-class communities, along with other small and medium-sized builders cannot achieve scale without this kind of capital. [Read more]
Post-Hearing Letter to Senate Judiciary Committee
By The Leadership Conference on Civil and Human Rights
On behalf of The Leadership Conference on Civil and Human Rights, a coalition of more than 230 national organizations committed to promoting and protecting the civil and human rights of all persons in the United States, and the 55 undersigned organizations, we write to the Senate Judiciary Committee following the committee’s confirmation hearing for Judge Ketanji Brown Jackson to express concern over the treatment of Judge Jackson by certain members of the committee. [Read more]
M&T Bank Corporation Completes Acquisition of People's United Financial, Inc.
By Yahoo Finance
As part of the merger, M&T Bank previously announced a five-year community growth plan – developed in collaboration with the NCRC and local community organizations – that will provide loans, investments and other financial support for low-to-moderate income (LMI) families and neighborhoods across the combined M&T and People's United footprint. [Read more]
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On Our Radar
Disney’s Latest Florida Attraction: Affordable Housing
By Jacob Passy, Market Watch
Walt Disney World is setting aside roughly 80 acres on its property for a new affordable-housing development. The resort expects that the development will include more than 1,300 housing units, and it will be constructed by a third-party developer. [Read more]
Black Tesla Employees Describe a Culture of Racism: ‘I Was at My Breaking Point’
By Margot Roosevelt & Russ Mitchell, Los Angeles Times
Their accounts expand on allegations in a Feb. 9 lawsuit filed by the California Department of Fair Employment and Housing on behalf of more than 4,000 current and former Black workers at the world’s most valuable car company — the largest racial discrimination suit ever brought by the state by number of workers affected. [Read more]
A Small Earthquake on Staten Island
By Paul Krugman, The New York Times
There is overwhelming evidence that in their heyday unions had a powerful effect in reducing inequality, both by raising their own members’ wages and by setting pay norms even for nonunion workers. Which is why what happened on Staten Island last week — when workers at an Amazon fulfillment center voted by a wide margin to unionize — may be hugely significant. [Read more]
Federal Home Loan Banks' Purpose Called into Question as Advances Drop
By Kate Berry, American Banker
As banks rack up record levels of deposits, the Federal Home Loan banks' core business of providing liquidity to member institutions is drying up, leading some critics to question the institutions' long-term viability. [Read more]
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Resources
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]
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]
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
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]
Member Hub
NCRC members: Don't forget you have access to our member hub! Learn more about membership here. You can join as an organization or an individual.
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]
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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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
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