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Just News
for February 10, 2023
News and views from the National Community Reinvestment Coalition. Find more at ncrc.org ([link removed] ) .
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Announcements
First Slate Of Just Economy Conference Speakers Announced!
Join NCRC on March 29-30 for the 2023 Just Economy Conference and hear from Adrienne Harris, Superintendent of New York State Department of Financial Services; Michael Hsu, Acting Comptroller of the Currency; Jelani Cobb, Ira A. Lipman Professor of Journalism at Columbia Journalism School; Michael Barr, Vice Chair for Supervision at the Federal Reserve; Jacqueline Patterson, Founder & Executive Director of The Chisholm Legacy Projects; and Allan Golston, President of the U.S. Program at the Bill & Melinda Gates Foundation. [Learn More ([link removed] ) ]
News
TAB Bank, Facilitator Of Predatory Puppy Loans, Gets Rating Downgraded By FDIC
By NCRC
"Late last week, the Federal Deposit Insurance Corporation (FDIC) made public that it has downgraded the Community Reinvestment Act (CRA) performance rating of Transportation Alliance Bank (TAB Bank) to “needs to improve,” a low rating that few banks get.
The FDIC came to the same conclusion that prompted consumer advocates including the National Community Reinvestment Coalition (NCRC) to write to the agency urging a downgrade in early 2022: The Utah-based bank committed unfair or deceptive acts or practices that “impacted a large number of consumers over an extended period of time.” [Read more ([link removed] ) ]
Research
Racial Wealth Snapshot: Immigration And The Racial Wealth Divide
By Dedrick Asante-Muhammad and Janessa Chu
In 2019, nearly 45 million foreign-born immigrants accounted for 14% of the national population in the United States. One in seven US residents is an immigrant and one in eight US residents have at least one immigrant parent in their household. [Read more ([link removed] ) ]
Columbia At 55: Creeping Segregation And Lack Of Affordable Housing Threatens A Legacy Of Black/White Integration
By Bruce C. Mitchell, PhD and Dedrick Asante-Muhammad
"Columbia is a bold experiment, driven by a vision of more equitable urban development. But communities do not exist in isolation from broader social forces surrounding them. Columbia enacted a set of “best practices” in land development and community social development on a grand scale. Has it been successful?" [Read more ([link removed] ) ]
Views
Why The Biden-Chopra Crackdown On Credit Card “Junk Fees” Is A Big Deal
By Adam Rust
The CFPB deserves plaudits for taking decisive action to stop an everyday consumer abuse that became standard operating procedure for banks over the past decade. [Read more ([link removed] ) ]
Field Notes
Funding For Racial Equity: Creating Favorable Private Investment Terms For CDFI Lending
By Manan Shah
Following the murder of George Floyd, the Black Lives Matter movement demanded concrete change from our political and economic institutions. Two years later, NCRC is evaluating the impact of banking institutions’ racial equity commitments. This is part three of a three-part series amplifying the experiences of our members and their relationship with private funders since 2020. [Read more ([link removed] ) ]
Events
CRA Basics
February 23
Banks have the capital to be a catalyst for change in your neighborhood and can be critical community partners. Join us to learn about the Community Reinvestment Act (CRA) and explore how the CRA can be used to increase reinvestment in your communities. This presentation will also cover how NCRC uses the CRA to secure community benefits agreements with banks. This is crucial information for anyone working towards a Just Economy. Whether you haven’t attended a CRA Basics before, or it’s just been a while, you won’t want to miss it. [Register here ([link removed] ) ]
2023 Just Economy Conference
March 29-30
The Just Economy Conference is the national event for community, business, foundation, policy and government leaders who want a nation that not only promises but delivers opportunities for all Americans to build wealth and live well. National and local luminaries, visionaries and changemakers gather to network, share ideas, learn and ask hard questions to chart out a better future. [Register here ([link removed] ) ]
In the News
The Baltimore Banner: Report: ‘Creeping Segregation’ In Columbia, Originally Envisioned As Model Of Racial Integration
By Alissa Zhu, The Baltimore Banner
Columbia, envisioned as a model for racial and socioeconomic integration when it was founded more than 50 years ago, is experiencing “creeping segregation” and a shortage of affordable housing, according to a new study, published last week by the National Community Reinvestment Coalition. [Read more ([link removed] ) ]
White People Have Flocked Back To City Centers — And Transformed Them
By Tara Bahrampour, Marissa J. Lang and Ted Mellnik, The Washington Post
The White population increased between 2010 and 2020 in hundreds of neighborhoods at the center of many large cities, even as it declined almost everywhere else in the country. This influx, which in some cases began before 2010 but has accelerated and expanded, has brought about new upheavals, making some of the country’s biggest urban cores feel increasingly unrecognizable to longtime Black, Hispanic and Asian residents. [Read more ([link removed] ) ]
On Our Radar
Dozens Of Community Groups Oppose WaFd-Luther Burbank Deal
By Kevin Wack, American Banker
More than 50 organizations, including many housing activist groups in California, are opposing Washington Federal's pending acquisition of Luther Burbank, citing a litany of concerns about the deal. [Read More ([link removed] ) ]
See How Many All-Cash Buyers Snagged Houses In Your Neighborhood
By Emmanuel Martinez, Kevin Schaul and Hamza Shaban, The Washington Post
The rise of all-cash buys comes at a time when the average home buyer is increasingly likely to be White, wealthy and older and the proportion of first-time buyers is at its lowest in more than 40 years. [Read more ([link removed] ) ]
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 ([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] )
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We are always looking for talented people.
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