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Just News

for March 17, 2023

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

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Announcements

Just Economy Conference Speakers

Join NCRC on March 29-30 for the 2023 Just Economy Conference and hear from CFPB Director Rohit Chopra, Congresswoman Maxine Waters and leaders from all three banking agencies: the FDIC, Federal Reserve and OCC. And many others! [Learn More ([link removed] ) ]

Views

The Simplest Lessons From SVB: Weakened Rules, Too Much Risk

By Adam Rust

While it would be appealing to have a clear villain to blame, it took many actors and decisions to set up the conditions that led to three bank failures in the last few weeks. Banks, regulators, depositors and politicians all played a role. [Read more ([link removed] ) ]

Leading The Way: Celebrating The Women Of NCRC

By Monica Grover

It’s all too easy to overlook the humanity of our colleagues when we are focused on our work. In honor of Women’s History Month, I’d like to highlight a few of the extraordinary women I have the privilege of working alongside at NCRC. [Read more ([link removed] ) ]

Research

Race, Jobs & The Economy

By Dedrick Asante-Muhammad, Jason Richardson and Joseph Dean

Black and Hispanic unemployment rates often spike before other groups when a recession begins. The February jobs report may flame the fears of a recession. [Read 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] ) ]

Events

Emotional Intelligence – The Number One Factor To Success in Diverse Settings

March 21

Emotional intelligence in the workplace begins from the inside out with each individual. It involves recognizing various aspects of your feelings and emotions and working on the elements of self-awareness, self-regulation, motivation, empathy, and social skills. Join us for more on how a high level of emotional intelligence can benefit you in the workplace and beyond. [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

FDIC Should Downgrade FinWise Bank Over Predatory ‘Rent-A-Bank’ Lending

By Rachel Gittleman, Consumer Federation of America

“The FDIC must hold FinWise Bank accountable for the impact its lending has on consumers,” said Adam Rust, Senior Policy Advisor of the National Community Reinvestment Coalition. “FinWise’s ‘charter-as-a-service’ model doesn’t meet the conveniences and needs of borrowers. It conveniently serves the needs of predatory lenders. That contradiction underscores why it’s incumbent on the FDIC to downgrade FinWise on its CRA exam.” [Read more ([link removed] ) ]

Digital Banking Trends In 2023

By René Bennett, Yahoo Finance

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). A third of those closures were in low- to moderate-income or historically marginalized neighborhoods. Many of these closures were propelled by the COVID-19 pandemic, during which the rate of branch closures doubled. [Read more ([link removed] ) ]

On Our Radar

Evictions Have Returned To — Or Exceeded — Pre-Pandemic Levels

By Alex Fitzpatrick, Kavya Beheraj, Axios

That's according to data from the Eviction Lab — a Princeton University project aiming to fill an "information hole in the center of the evictions crisis" by collecting data from court filings and other sources, research specialist Jacob Haas told Axios. [Read More ([link removed] ) ]

Justice Dept, SEC Probing Collapse Of Silicon Valley Bank

By the Associated Press, AP News

The collapse of Silicon Valley Bank on Friday — the largest bank failure since the financial crisis of 2008 — and Signature Bank two days later have rattled markets as investors seek the safety of bonds amid renewed concerns about problems in the banking sector. On Wednesday, Credit Suisse, which has been beset by problems long before Silicon Valley Bank’s demise, saw its shares hit their lowest level ever as the bank’s largest shareholder declined to offer further support. [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] ) .

Jobs

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