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Just News

for February 17, 2023

News and views from the National Community Reinvestment Coalition. Find more at ncrc.org ([link removed] ) .

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Announcements

New Just Economy Conference Speakers Announced!

Join NCRC on March 29-30 for the 2023 Just Economy Conference and hear from Congresswoman Pramila Jayapal and US Secretary of Housing and Urban Development Marcia Fudge. [Learn More ([link removed] ) ]

News

NCRC Announces $50 Billion Community Benefits Agreement With TD Bank ([link removed] )

By NCRC

TD Bank will commit $50 billion in investments, lending, philanthropy and other services for diverse and underserved communities, the National Community Reinvestment Coalition announced Wednesday, pursuant to a community benefits plan the organization facilitated between the bank and NCRC members. [Read more ([link removed] ) ]

NCRC Announces Recipients Of Grants To Scale Up Small Business Service Providers

By NCRC

Small business resource providers in Oregon, Minnesota, Arkansas, Oklahoma and Indiana will receive funding, training and technical assistance through the MicroBiz Capital Accelerator Program ([link removed] ) from the National Community Reinvestment Coalition. [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

What Columbia, Maryland, Can Teach The Nation About Community, Economic Inequality And The Persistence Of Segregation

By Bruce C. Mitchell, PhD and Dedrick Asante-Muhammad

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] ) ]

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

TD Unveils Community Benefits Plan Amid Push To Close First Horizon Deal

By Jordan Stutts, American Banker

The agreement with the National Community Reinvestment Coalition could help the Canadian bank to secure regulatory approval for the First Horizon deal, which was announced a year ago. Last week, the two banks extended the deal's targeted closing date by three months to May 27. "The deal we just signed will ensure that communities of need see tangible increases in resources and economic opportunity in their neighborhoods—as every bank merger is legally required and morally bound to do," Jesse Van Tol, president and CEO of the NCRC, said in a press release. [Read more ([link removed] ) ]

Why Does DPS Have Too Many Schools? Enrollment Decline Was Years In The Making — And District Saw It Coming

By Jessica Seaman, The Denver Post

Soaring rents and home prices exacerbated the problem in northwest Denver so not only were fewer families with children moving into the Northside but they also were getting pushed out. The problem spread across the city and, except for San Francisco, Denver saw more widespread gentrification than any other US metro area between 2013 and 2017, according to a study by the National Community Reinvestment Coalition in Washington, DC. [Read more ([link removed] ) ]

On Our Radar

Inflation Eases Again, But Bringing Prices Further Down Will Take Work

By Rachel Siegel, The Washington Post

Housing costs were by far the largest contributor, accounting for nearly half of the monthly increase. Fed officials and economists expect rent inflation eventually to fall as costs for new leases cool off. But that has not happened on a significant scale yet. Rent in January was up 0.7 percent over the month in comparison with 0.8 percent in the previous report. It was also up 8.6 percent from the year before. [Read More ([link removed] ) ]

Is Lightfoot's Signature Housing Policy Working? Depends On Who You Ask.

By Alex Nitkin, Crain's Chicago Business

City approvals for marquee apartment projects have been smaller and less frequent since the City Council passed Lightfoot’s 2021 revamp of the city’s Affordable Requirements Ordinance, an Illinois Answers Project analysis shows. Some builders point to the trend as vindication for their opposition to the ordinance, which cranked up requirements for developers to include some affordable units in any large project they propose in wealthy or gentrifying neighborhoods. They say the rules were so harsh that they choked off development, ultimately leading to less new housing — including fewer new affordable units. [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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