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Just News

for March 10, 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 CFPB Director Rohit Chopra, Congresswoman Maxine Waters and Birmingham Mayor Randall Woodfin. [Learn More ([link removed] ) ]

News

NCRC Statement In Opposition To The TABS Act

By NCRC

The TABS Act reverses the clearly-stated intentions expressed by Congress in the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act by eliminating the CFPB’s independence from Congressional budgets. Understanding that corporate lobbyists would attempt to limit the CFPB, Congress called for CFPB funding to come from the Federal Reserve, which is itself funded independently from Congressional appropriations. [Read more ([link removed] ) ]

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 ([link removed] ) ]

Views

The Racial History Of Planning In Atlanta Sounds Alarm Bells For CRA Reform Efforts

By Josh Silver

As part of their proposed changes to the Community Reinvestment Act (CRA) regulation, the federal bank agencies seek to require banks to involve public-sector entities in community development projects for which the banks hope to receive favorable consideration. In response to this proposal, NCRC and several other community-based organizations sounded a loud note of caution: Some notable local public projects were and are harmful and resulted in the displacement of lower income and/or communities of color. [Read more ([link removed] ) ]

Events

NCRC Community Development Fund Highlights Power Of Impact Investing At SXSW

March 14, 1 pm ET

The NCRC Community Development Fund will be at this year’s South by Southwest conference, one of the nation’s largest and most diverse. NCRC CDF’s Executive Director, Marisa Calderon, will be featured in an industry panel titled “Impact Investing that Actually Works” on March 14 at the LINE hotel. [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

Terry Horton Is Black. He Says His Property Was Valued $100,000 Lower Because Of His Race.

By Madeline Ottilie, Cincinnati WCPO

Horton contacted the National Community Reinvestment Coalition, which received a report from Cincinnati-based appraisal expert Derrick Mayes. The complaint says Mayes issued a report stating “it is our opinion that some degree of bias is apparent in the reconciliation of values, which fall squarely on the very low end of the value spectrum,” and concluding that “the appraiser was negligent and violated the competency requirement in [Uniform Standards of Professional Appraisal Practice] USPAP.” [Read more ([link removed] ) ]

TD-First Horizon Back At Negotiating Table As Deal Hangs In Regulatory Purgatory

By Zoe Sagalow and Syed Muhammad Ghaznavi, S & P Marketing Intelligence

TD's $50 billion community benefits agreement with National Community Reinvestment Coalition that was announced on Feb. 15 could help to smooth the approval process. Though these types of agreements are not monitored or enforced by regulators, MacDonald anticipates that the OCC and Fed will review how the banks will implement this agreement, its cost, and the impact on the banks. [Read more ([link removed] ) ]

On Our Radar

Why Poverty Persists In America

By Matthew Desmond, The New York Times Magazine

On the problem of poverty, though, there has been no real improvement — just a long stasis. As estimated by the federal government’s poverty line, 12.6 percent of the U.S. population was poor in 1970; two decades later, it was 13.5 percent; in 2010, it was 15.1 percent; and in 2019, it was 10.5 percent. To graph, the share of Americans living in poverty over the past half-century amounts to drawing a line that resembles gently rolling hills. The line curves slightly up, then slightly down, then back up again over the years, staying steady through Democratic and Republican administrations, rising in recessions and falling in boom years. [Read More ([link removed] ) ]

Small Businesses Return To Traditional Credit Sources — With A New Twist

By Orla McCaffrey, American Banker

About 40% of small businesses applied for loans, lines of credit or cash advances last year, up from 25% in 2021, according to a survey by the 12 regional Federal Reserve banks. At the same time, only 34% of the firms reported relying on pandemic-related funding programs, down from 77% the previous year. [Read more ([link removed] ) ]

Resources

Work And Meet At The Just Economy Club

It's a DC hub for nonprofits and the social sector, around the corner from the White House. Move your team into a private office or host your meetings and events or hang out in the lounge. [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

Keep up and catch up on plans to strengthen the Community Reinvestment Act. [Read more] ([link removed] )

Support Women Entrepreneurs

Interested in becoming a supporting partner of the DC Women's Business Center? Learn more here ([link removed] ) .

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