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** Just News
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for June 17, 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]) .
** Thanks to Everyone for Making the 2022 Just Economy Conference a Success!
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Hundreds of attendees filled the Washington Hilton with joy, passion and ideas at the National Community Reinvestment Coalition’s 2022 Just Economy Conference ([link removed]) this week, amid palpable relief at the opportunity to bump elbows with peers after two years of Zoom meetings and online-only events. Follow along as we share some highlights from the 2022 Conference. [Read Our Recap ([link removed]) ]
** 2022 Just Economy Conference Highlights
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NCRC Fireside Chat With Lael Brainard And Michael Hsu
NCRC President and CEO Jesse Van Tol was able to host a recorded conversation on pending updates to the Community Reinvestment Act (CRA) regulations with Federal Reserve Board Vice-Chair Lael Brainard and Acting Comptroller of the Currency Michael Hsu. [Read more ([link removed]) ]
Opening Keynote from FDIC Acting Chair Martin Gruenberg
Gruenberg emphasized the importance of expanding CRA enforcement to consumer lending and updating them to ensure bank behavior is monitored everywhere they lend and not just where they are physically located. [Watch here ([link removed]) ]
Cornell Law Professor Saule Omarova and Bitfury Group CEO Brian Brooks Debate Over Crypto
This punchy, genial debate centered on the effect cryptocurrency is having on inequality and opportunity, with Omarova warning that the Amazon Coin could replace or subvert the US dollar, while Brooks stated “Crypto is all about creating user control - So, the question is do you want a user control system or a government control system.” [Read more ([link removed]) ]
NCRC Founder John Taylor Receives Lifetime Achievement Award
Taylor retired in 2021 after building the organization from a one-man band to a true coalition of nearly 700 member organizations across 46 states and territories, with a full-time staff of 60-plus people who advocate on behalf of our members and help coordinate and support their efforts in their communities. [Read more ([link removed]) ]
Anand Giridharadas Closes the Conference with a Bang
In a conversation between NCRC Chief Communications and Marketing Officer Andrew Nachison and best-selling author Anand Giridharadas, the crowd delighted to Giridharadas’ critique of “the win-win ideology” in corporate philanthropy and his colorful diagnosis of the country’s democracy crisis. “We are struggling right now because a significant minority of people in America would rather shatter the country than share it,” Giridharadas said. “It’s not most people, but it is a determined, organized minority faction. It’s the same faction that did Jim Crow, and the same one that upheld most racist policies in this country.”
*All above photos are courtesy of Scott Henrichsen ([link removed])
** Attendees' Thoughts
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** Some Notable Quotes from Our Speakers
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* John Boyd, Founder & President, National Black Farmers Association: “The land doesn’t discriminate – people do.”
* Katy Crosby, NCRC Board Chair & Town Manager of Apex, North Carolina: “Where I am from, people count out families like mine. So, I was inspired to pursue leadership positions, where decisions were made, so I can make a difference in the communities I call my own.”
* Marc Morial, National Urban League President and CEO and former New Orleans Mayor: “Have a highly trained mind and a well-tuned heart. Be impatient for a purpose [and try to] get accused of being too passionate.”
** In the News
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Retirees, Be Aware of the Murky Rules Behind Financial Apps
By Jackie Stewart, Kiplinger
Karen Kali, senior program manager at the National Community Reinvestment Coalition in Washington, D.C., says that both the EverSafe and SilverBills apps are great examples of a product that could be useful for seniors..."Given the prevalence of fintech applications and so many seniors who live away from family, it's unrealistic to stay away completely from fintechs," says Kali. [Read more ([link removed]) ]
Understanding Redlining and How It Kept Communities of Color from Homeownership
By Molly Grace, Business Insider
"Almost invariably, neighborhoods that had any African American presence were graded as hazardous in their mapping system," says Bruce Mitchell, senior research analyst at the National Community Reinvestment Coalition. [Read more ([link removed]) ]
More Banks are Inking Community Benefits Agreements After Striking M&A Deals
By Zoe Sagalow, S&P Global
Since 2021, the National Community Reinvestment Coalition, a group that advocates for fairness in lending, has helped strike nine benefits agreements with financial institutions after working on seven such agreements from 2016 through 2020. [Read more ([link removed]) ]
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