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** Just News
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for August 26, 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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Call For 2023 Just Economy Conference Session Ideas Webinar
Add your voice and expertise to the 2023 Just Economy Conference! Mark your calendars for the upcoming webinar on Thursday, September 1, at 1:00 pm ET to go over the proposal process and answer any questions you may have. [Register here ([link removed]) ]
** News
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Consumer Advocate Groups Call On FDIC To Reject Ford Credit’s ILC Charter Application
Ford Motor Company should be denied deposit insurance for its proposed new Ford Credit industrial loan company (ILC) charter, the National Community Reinvestment Coalition (NCRC), the National Consumer Law Center (on behalf of its low-income clients), Americans for Financial Reform Education Fund, and the Center for Responsible Lending wrote to the Federal Deposit Insurance Corporation ([link removed]) (FDIC) on Wednesday. [R ([link removed]) ead more ([link removed]) ]
NCRC Statement: Biden Student Debt Relief Is A Great Start – But More Must Be Done
“But let’s be honest, too. This is great for those who benefit immediately, but it doesn’t solve the underlying problem of inadequate public support and high costs for education. One-time relief for past borrowers does nothing to make public education more accessible to lower-income students. It doesn’t make upward mobility more plausible for current and future students who face the same overwhelming expenses for education. And it doesn’t help anyone who made a difficult decision to avoid taking on debt. [R ([link removed]) ead more ([link removed]) ]
** Views
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Why The Great Migration Did Little To Bridge The Great Racial Divide
By Dedrick Asante-Muhammad
Families hoped that escaping from Jim Crow to a city with growing industrial jobs would create better economic opportunities for future generations...Though there might have been an initial increase in opportunity, the Princeton scholar [Dr. Ellora Derenoncourt] found, many African American grandchildren and great grandchildren of these migrants today are financially struggling, seeing little bridging of Black/white economic inequality. [Read more ([link removed]) ]
** Field Notes
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NCRC Member Profile: Inclusive Action For The City
Inclusive Action for the City (IAC) is a community development organization whose mission is to bring people together to build strong local economies that uplift low-income urban communities through advocacy and transformative economic development initiatives. [Read more ([link removed]) ]
** In the News
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Reclaiming Public Tax Dollars: An Economic Justice Movement Gains Strength
By Arlene Martínez, Nonprofit Quarterly
The National Community Reinvestment Coalition (NCRC) often likes to say that “data drives the movement ([link removed]) .” NCRC is referring to the role of the Home Mortgage Disclosure Act (HMDA) and the Community Reinvestment Act ([link removed]) (CRA) in enabling communities to alter bank behavior, increasing lending and investment in previously redlined neighborhoods ([link removed]) . The same theme holds for corporate tax abatements. [Read more ([link removed]) ]
Marisa Calderón; Líder En El Sector Inmobiliario Y Apasionada Por Mejorar La Vida De Los Latinos Y Personas De Color
By Jacqueline García, La Opinión
Marisa Calderón, directora ejecutiva del NCRC Community Development Fund (NCRC CDF), es una ejecutiva experimentada que ha sido reconocida, premiada y citada a nivel nacional por su experiencia en las industrias de vivienda y servicios financieros. [Read more ([link removed]) ]
For Decades, African American Communities Have Been Without Enough Local Banking Storefronts
By Jasmine Vaughn-Hall and Nick Thieme, The Baltimore Banner
While Northwood and Mondawmin get new banking opportunities, a general decline in the use of storefront banks has exacerbated the problem with most banking deserts. The National Community Reinvestment Coalition found ([link removed]) that two-thirds of banking institutions in the US have disappeared since the 1980s, dropping from nearly 18,000 in 1984 to fewer than 5,000 in 2021. According to the NCRC, Baltimore was among the top 50 metro areas with the most bank branches in 2017. By 2021, it lost at least 96. [Read more ([link removed]) ]
** On Our Radar
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Biden Is Canceling Up To $10,000 In Student Loans, $20,000 For Pell Grant Recipients
By Cory Turner and Sequoia Carrillo, NPR
On Wednesday, President Biden announced a sweeping effort to forgive up to $20,000 of federal student loan debt for Pell Grant recipients, and up to $10,000 for other qualifying borrowers. Biden also extended the federal student loan payment pause through Dec. 31. [Read more ([link removed]) ]
Indiana Housing Organizations Weigh In On Changes To Community Reinvestment Act
By Benjamin Thorp, WFYI Indianapolis
Indiana housing organizations are weighing in on proposed changes to a federal law intended to get banks to invest in historically redlined communities. [Read more ([link removed]) ]
Military Families’ Housing Benefits Lag As Rents Explode
By R.J. Rico, Associated Press
Housing has long been a major benefit for service members, a subsidy to salaries that trail the private sector. But, amid record-breaking spikes in rent ([link removed]) , the Department of Defense has neglected its commitment to help military families find affordable places to live, service members and housing activists say. [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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