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** Just News
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for May 6, 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 Schedule Is Online
In case you missed it: the conference breakout schedule ([link removed]) is on the website! Join us in working toward a just economy that not only promises but delivers to all Americans opportunities to build wealth and live well. [Register here ([link removed]) ]
** News
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Historic Overhaul Of Lending Equity And Community Reinvestment Act Rules Presents Crucial Opportunity To Heal National Divides
New proposed regulations to update enforcement, data collection and other aspects of the Community Reinvestment Act offer a welcome and overdue opportunity to address the unacceptable and persistent wealth and opportunity divides that plague the world’s richest nation, the head of the National Community Reinvestment Coalition said. [Read more ([link removed]) ]
NCRC Community Development Fund And Hera Hub Jointly Launch Technical Assistance Programs For Small-Business Owners
The NCRC Community Development Fund and Hera Hub today announced the kickoff of dual-path business technical assistance programs – Growth Academy and Launch Academy – for owners of startups or established small women- and minority-owned businesses. [Read more ([link removed]) ]
NCRC Hires Estee Smith As Healthy Communities Director
Estee will be integral in the oversight of workforce development and SNAP program staff activities. Estee comes to NCRC from the Public Broadcasting Service (PBS), specifically within PBS KIDS and PBS Station Services, where she was the community engagement manager. [Read more ([link removed]) ]
** Views
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Wealth And Opportunity Divides Haunt Immigrant Families For Generations
By Monica Grover
Even among families who build wealth, 70% is generally gone by the second generation — and 90% by the third. For many immigrant families like mine, parents’ cultural reluctance to talk to their kids about what will happen when they’re gone is part of the reason why. [Read more ([link removed]) ]
** Events
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Join NCRC’s Marisa Calderon At The Women In Housing And Finance Annual Symposium
May 11, 10 am - 5 pm ET
Women in Housing and Finance’s 2022 Annual Symposium: How Innovation In Housing & Finance Is Leading Us Into Another Roaring 20’s. This event will have a virtual option. The 2022 WHF Annual Symposium will include keynote remarks from Alanna McCargo, Ginnie Mae President and former WHF Foundation Board member. The program will also offer panels on housing and digital assets. Attendees will have the opportunity to network at the close of the session. [Register here ([link removed]) ]
Join NCRC's Josh Silver At The Building Alabama Reinvestment (BAR) Conference 2022
May 12, 11 am - 6 pm ET
Join NCRC’s Senior Advisor Josh Silver as he gives the keynote speech at the Building Alabama Reinvestment (BAR) Conference. The BAR Conference’s mission is to create an atmosphere where community leaders and bankers can unite to discuss important issues and develop strategies to improve underserved communities, as well as serve low to moderate-income families. [Register here ([link removed]) ]
** In the News
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Fed, Biden Administration Float New Lending Rules For Lower-Income Areas
By Andrew Ackerman, The Wall Street Journal
“The impact will be pretty clearly to raise the bar in terms of what’s expected from banks,” said Jesse Van Tol, president and chief executive of NCRC. Mr. Van Tol said there is a major gap in one aspect of the proposal: It wouldn’t apply to the nonbank financial firms that now provide the bulk of the consumer loans in the U.S., such as in the mortgage market. [Read more ([link removed]) ]
HUD’s Dep. Asst. Sec. Cullen Advocates Outreach In Fighting Housing Discrimination – NCRC Senior Advisor Davenport Stresses CRA Utilization At HEED’s 33rd Annual Conference
By Gail H.M. Brown, Ph.D., The Mississippi Link
Thursday’s awards luncheon keynote was Kevin Davenport, senior advisor, Campaign and Coalition, NCRC, Washington, D.C. Davenport presented an apparent passionate eye-opening deep-dive into the importance of “Utilizing the Community Reinvest (CRA) Act.” [Read more ([link removed]) ]
How Can Billions Be Saved In ‘Junk Fees?’ Consumer Groups Offer An Extensive List
By CU Today
The letter was submitted by Americans for Financial Reform (AFR), the Center for Responsible Lending (CRL), Consumer Federation of America (CFA), the National Community Reinvestment Coalition (NCRC), and National Consumer Law Center (NCLC) (on behalf of its low-income clients). [Read more ([link removed]) ]
** On Our Radar
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Big-Bank CEOs Warn Of Recession Risk
By Polo Rocha, American Banker
JPMorgan Chase’s Jamie Dimon, Bank of America’s Brian Moynihan and Morgan Stanley’s James Gorman warned in separate interviews Wednesday that drastic interest rate hikes from the central bank could end up stifling the economy. [Read more ([link removed]) ]
U.S. "Open Banking" Rule Bogged Down By Privacy Concerns - Sources
By Katanga Johnson and Hannah Lang, Reuters
The Consumer Financial Protection Bureau rule would allow consumers to easily share their financial data with third-parties. This would remove a key obstacle to switching service providers that might offer lower fees. [Read more ([link removed]) ]
What Would The End Of Roe Mean? Key Questions and Answers.
By Claire Cain Miller and Margot Sanger-Katz, The New York Times
The leaked document was described as a draft, not a final opinion. It may be a month or more before the Supreme Court officially rules in the case, and that decision could differ from the draft that is circulating. If the Supreme Court does rule against Roe, clinics in some states would most likely begin closing within days. In other states that ban the procedure, the process may take several months. [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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