According to a National Community Reinvestment Coalition study, Pittsburgh was the eighth-most gentrified city in the U.S. in 2019, with neighborhoods like Downtown, Lawrenceville, and the Mexican War Streets seeing the sharpest levels of gentrification.
“The economy is reopening, bringing stronger economic activity and job creation,” Powell said in remarks prepared for delivery at a conference of the National Community Reinvestment Coalition.
Reuters: Fed’s Powell says economic recovery clouded by racial, education gaps Read More »
Federal Reserve Chair Jerome Powell indicated his support for subjecting non-depository institutions to the Community Reinvestment Act, but said the final decision should be left to Congress.
American Banker: Fed’s Powell embraces idea of CRA for nonbanks Read More »
“We are not out of the woods yet, but I am glad to say that we are now making real progress,” Powell said in remarks to the National Community Reinvestment Coalition, citing rising vaccination levels, increased government support and more business reopenings across the country.
Al Jazzeera: US Fed chief highlights inequality clouding ‘brightened’ outlook Read More »
“While the recovery is gathering strength, it has been slower for those in lower-paid jobs,” he said at a National Community Reinvestment Coalition event on the “just economy.”
The Hill: Recovery slower among low earners, racial minorities: Powell Read More »
“Like activities should have like regulation,” Mr. Powell said, speaking to the National Community Reinvestment Coalition, a fair-lending advocacy group.
CSPAN covered Chair Powell’s speech at the 2021 Just Economy Conference live.
CSPAN: Federal Reserve Board Chair Jerome Powell Delivers Address on the Economy Read More »
Jesse Van Tol, chief executive of the fair lending group National Community Reinvestment Coalition, said the disparities show that banks failed to live up to a 44-year-old federal law that requires them to equitably serve all communities where they do business.
According to the study, “HOLC “Redlining” Maps: the persistent structure of segregation and economic inequality” conducted by the National Community Reinvestment Coalition (NCRC), 74 percent of the neighborhoods that were marked hazardous “eight decades ago are low-to-moderate income (LMI) today.”
Blackstone Group Inc. is buying 66 multifamily properties in the San Diego area for more than $1 billion and plans to invest some $100 million to improve the properties, whose apartments currently provide low-cost housing to thousands of people.
The Wall Street Journal: Blackstone Swoops Into San Diego to Buy Low-Cost Housing Read More »
Turkey Leg Hut has become much more than the long lines that have come to define the restaurant. Its rapid success has also made it a lightning rod for racially tinged conflicts over gentrification.
Some of the largest U.S. banks plan to start sharing data on customers’ deposit accounts as part of a government-backed initiative to extend credit to people who have traditionally lacked opportunities to borrow.
I’ve been locked out of the vast invisible system that determines creditworthiness — all because I have a twin
The Verge: Credit Agencies Can’t Tell My Sister and Me Apart Read More »
Thanks to Afterpay and Klarna, it’s easier than ever to buy in installments. Now, the model is coming for necessities.
Vox: Buy now, pay later changed retail. Health care and rent are next. Read More »
NCRC Chief Executive Jesse Van Tol said PNC recognized that $88 billion was the “right response” to the pandemic’s impact on communities.
American Banker: Behind PNC’s $88 billion commitment to invest in communities Read More »
