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]
News
NCRC Announces Recipients For $5M Field Empowerment Fund Grant Program
By NCRC
Together with the prior year’s fund awards, the newly announced grants mean that a total of 54 community groups will benefit from the Morgan Stanley-supported $5 million Field Empowerment Fund. The program provides unrestricted grants to NCRC members to help advance racial equity in low-wealth communities through affordable housing, small business support and housing counseling. The earlier round of grant awards was also targeted to organizations focused on promoting COVID-19 economic recovery in historically underserved communities. [Read more]
White House Rightly Reduces Unnecessary And Onerous Mortgage Insurance Costs For Lower-Wealth Homebuyers
By NCRC
The Biden-Harris administration will lower mortgage insurance premiums that have long punished homebuyers who make below-standard down payments, Vice President Kamala Harris and Secretary of the Department of Housing and Urban Development (HUD) Marcia Fudge announced Wednesday at an event with National Community Reinvestment Coalition (NCRC) President and CEO Jesse Van Tol and other leading economic justice advocates. [Read more]
Research
Native Americans Struggle To Obtain Credit: A Close Analysis Of Native American Mortgage Lending From 2018-2021
By Jason Richardson
Mortgage lending to Native Americans is an under-studied issue for several reasons. In most US markets Native Americans are a small fraction of the overall population. Mortgages on Native reservations are rare, and lenders in rural areas are less likely to be required to report data on mortgage loan applications. However, by focusing on markets where Native Americans are concentrated, existing data does offer insight into their experience with accessing credit and building wealth through homeownership. [Read more]
Views
Court’s Decision In Townstone Financial Gives A Green Light To Discriminatory Lending
By Anneliese Lederer and Brad Blower
A poorly reasoned court decision threatens to upend key elements of federal fair lending law, thwarting Congress’s careful work to foster a fair economy and inviting lenders to discriminate freely against would-be borrowers.[Read more]
Events
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]
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 dateby 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]
On Our Radar
Supreme Court Hasn't Decided Yet To Take CFPB Constitutionality Case
By Kate Berry, American Banker
Few experts think the Supreme Court will abolish the CFPB outright. But the 5th Circuit's ruling opened the door for the bureau's 12-year history of rules and enforcement actions to be challenged. Many experts think any Supreme Court decision will lead to a fight in Congress over the CFPB's future funding. Though some banks and financial institutions want the CFPB to be abolished outright, many others are hoping for a ruling that would force Democratic lawmakers to bow to reforms, including funding the agency through congressional appropriations and adopting a commission structure. [Read More]
Why Did Black And Latino Homeownership Increase During The Pandemic?
By Amalie Zinn and Jung Hyun Choi, Urban Institute
During the COVID-19 pandemic, Black and Latino homeownership increased more than white homeownership, with Black and Latino homeownership rates increasing by 2 and 2.5 percentage points, respectively, while the white homeownership rate increased just 1 percentage point. On its surface, this difference may seem surprising, as people of color disproportionately experienced higher rates of job loss and were more likely to miss rental and mortgage payments because of the pandemic. [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]
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 Browse our catalog of socioeconomic briefs and infographics. [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]
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
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