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** Just News
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for September 30, 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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How To Support NCRC Members In The Path Of Hurricane Ian
Our thoughts are with all those living in the path of Hurricane Ian, and with the 38 NCRC member organizations in Florida that continue to serve the communities impacted by the storm. Other members in Puerto Rico are dealing with the aftermath of Hurricane Fiona. Please consider donating to those NCRC member organizations. [Rea ([link removed]) d more ([link removed]) ]
** News
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Federal Court Throws Out Trump-Era Anti-Transparency Rule For Mortgage Lenders
By NCRC
A federal judge has sided with community groups to restore key mortgage lending transparency requirements, finding that the Trump-era Consumer Financial Protection Bureau acted unlawfully in issuing a 2020 rule exempting many mortgage lenders from reporting obligations designed to help combat redlining and other fair lending and fair housing violations. [ ([link removed]) Read more ([link removed]) ]
NCRC Statement On Bank Lobbyists’ Lawsuit To Preserve Banking Discrimination
“Apparently some in the business and banking community believe that discrimination is fair as long as it is profitable. This is a disingenuous and dangerous attack on the American public’s right to fair treatment – but it’s also a remarkable admission: Big business trade lobbyists think their clients should have a right to discriminate. I am astounded that the banks that make up the ABA and the CBA want their name attached to this.” [Read more ([link removed]) ]
** Events
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What Will Banking Look Like in 2030?
October 4, 2 pm ET
What do you know about Web3? Is it going to change the way we bank by the year 2030? Some policymakers believe that Web3, a blockchain-based option for the Worldwide Web, will replace fintech as the next “new thing” in financial services. Web3 has the potential to enhance consumer privacy and counter the power of “Big Tech” firms to dominate internet activity. Join us October 4 at 2 pm ET. to hear from a regulator, an innovation sector thought leader, and a serial founder and CEO, and learn the opportunities and challenges of Web3. [Register here ([link removed]) ]
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 ([link removed]) ]
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 ([link removed]) ]
** In the News
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Digital Banking In 2022: Trends And Statistics
By René Bennett, Bankrate
Between 2017 and 2021, 9 percent of all branch locations closed down, a loss of around 7,500 branches, according to the nonprofit National Community Reinvestment Coalition(NCRC). Many of these closures were propelled by the COVID-19 pandemic, during which the rate of branch closures doubled. [Read more ([link removed]) ]
Upstart Says It's Improving AI Models After Report Finds Race Approval Disparities
By Polo Rocha National Mortgage News
The group, which launched this month, includes other AI-based lenders such as Oportun Financial and LendingClub, as well as community groups such as the National Community Reinvestment Coalition, the National Consumer Law Center and the Latino civil rights group UnidosUS. [Read more ([link removed]) ]
** On Our Radar
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Rents Drop For First Time In Two Years After Climbing To Records
By Will Parker, The Wall Street Journal
Apartment rents are falling from record highs across the U.S. for the first time in nearly two years, offering the prospect of relief to millions of tenants who have seen steep increases during the pandemic. [Read More ([link removed]) ]
Banks Accuse Consumer Regulator Of Abuse Of Power
Emily Flitter, The New York Times
Since George Floyd’s murder by the police in 2020 refocused public attention on racism in the United States, regulators — including those appointed by President Biden to oversee financial institutions — have vowed to prioritize the task of rooting out discrimination. But banks are now accusing one of them of going too far. [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]) ]
Learning & Training Hub
Register for NCRC's catalog of professional development courses for community development leaders. [Learn ([link removed]) more ([link removed]) ]
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]) ]
Racial Wealth Snapshots
Browse our catalog of socioeconomic briefs and infographics. [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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