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Just News

for September 23, 2022

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

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Announcements

Last Day To Submit Your Conference Session Idea!
Only a few more hours to submit your 2023 Just Economy Conference session ideas. Don’t delay in adding your voice to this vital conversation! What conversations do you want to lead? What new ideas can you bring to the table to help us imagine and create a just economy? Whose voices do you want to include and showcase? If you have ideas for potential session topics or would like to plan a panel or discussion around your interests and expertise, submit your ideas by 11:59 pm ET today! [Submit now]

Views

2021 HMDA: The Year That Our Homes Became ATMs Again
By Jason Richardson and Dedrick Asante-Muhammad
It has been obvious that the US housing market was “hot” in 2021. But new comprehensive data indicate that heat didn’t generate much progress in converting renters into owners — and thus likely did little to promote long-term wealth-building for the families who need it most. [Read more]

News

NCRC Endorses Rep. Maxine Waters Legislation To Overhaul Community Reinvestment Act
“I applaud Chairwoman Waters’ work to overhaul CRA and add legislative heft to the Biden administration’s ongoing work to improve the law,” NCRC President and CEO Jesse Van Tol said. “This strong legislation from Chairwoman Waters deserves swift consideration and passage. Surely the past 45 years of continued inequities in lending, opportunity and wealth-building can convince the rest of our political leadership that the time for major legislative change has come.” [Read more]

Events

Advancing Health Equity In Communities
September 29, 1 pm ET
Join NCRC in a three-part online event series to increase the understanding of the social determinants of health (SDOH). Part 1 on September 29 will focus on critical information on the definition and application of the SDOHs and how they can intersect with community development. [Register here]

Financial Equity Summit
October 3 & 4, 9 am - 5 pm ET
Massachusetts Community & Banking Council’s inaugural summit is a two-day event on October 3 and 4 with local and national speakers focusing on closing our racial wealth gap in Massachusetts and the nation. Join us in thinking proactively about how best to deliver financial services to lower-income consumers in an ever-changing landscape. [Register here]

Root Cause Coalition Summit
October 4, 7 am - 3:30 pm ET
Join NCRC President and CEO Jesse Van Tol, NCRC Board Chair Catherine Crosby, and fellow panel members at the Root Cause Coalition Summit, October 4, 2022. They will discuss how the pandemic brought front-and-center discriminatory policies such as redlining. [Register here]

In the News

Minority Entrepreneurship Report: More Money Could Help
By Dianne Anderson, Precinct Reporter News
In another study, the National Community Reinvestment Coalition looked at discrimination in lending before COVID-19 and through the implementation of PPP lending. They found statistically significant disparities in how bank representatives discriminated in the small business loan process. [Read more]

The Reinvestment Movement Vs. The Bankers
By Robert Kuttner, The American Prospect
In 1990, local and state organizations that promote housing, community economic development, and banking services came together to form the National Community Reinvestment Coalition, which now has more than 600 affiliates. NCRC provides national clout and expertise to monitor regulatory agencies, work with Congress and the administration, and negotiate commitments from banks. [Read more]

Banks Saw Opportunity During COVID, Permanently Shuttering 230 Branches In Mass.
By Beth Healy and Laura Kraegel, WBUR
Banks often close branches to save on expenses, but that’s not a service to their customers, said Jesse Van Tol, chief executive of the National Community Reinvestment Coalition, a nonprofit based in Washington, DC. [Read more]

On Our Radar

Bank CEOs Navigate Wide Range Of Democrats' And Republicans' Grievances In House Hearing
By Brendan Pedersen, American Banker
The bank leaders were grilled on their long- and short-term expectations for the US economy, the potential impact of capital reform under the Biden administration, banks' investments in Russian and Chinese markets and the future of oil and gas lending. [Read more]

Home Prices See Biggest Drop In 9 Years, Thanks To Higher Mortgage Rates
By Chris Arnold, NPR
Higher mortgage rates are throwing a bucket of ice-water on the super-heated housing market. Home prices in August were down about 6% from their peak in June, the biggest 2-month drop in prices in nearly a decade. The pace of home sales slowed for the 7th straight month. [Read more]

Legal Challenges To Student Loan Forgiveness Loom Before Midterms
By Gabriel T. Rubin and Jacob Gershman, The Wall Street Journal
The Biden administration and Republican opponents of mass student debt cancellation appear headed for a legal confrontation with hundreds of billions of dollars at stake just weeks before the November midterm elections. [Read more]

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
Register for NCRC's catalog of professional development courses for community development leaders. [Learn more]

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]

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]

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

Jobs

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NCRC

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Washington, DC 20306

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