Seattle Medium, August 22, 2023, Six Decades After King’s Historic Speech, Report Shows Black Economic Equality Is ‘Still A Dream’ Sixty years after Dr. Martin Luther King Jr. delivered his iconic “I Have a Dream” speech during the March on Washington for Jobs and Freedom, a groundbreaking new report has laid bare the stark truth […]
The US Sun, August 19, 2023, Major US Bank With More Than 1,000 Locations Nationwide Closing Branch as Frustrated Customers Directed Elsewhere Fifth Third Bank announced it will be closing one of its banking locations in Cincinnati, Ohio. There are 102 Fifth Third branches in Greater Cincinnati, the most of any bank. According to Oates, the
The Final Call, August 22, 2023, Six Decades After The March On Washington, America Still Failing Black Folks A new report titled, “Still A Dream: Over 500 Years to Black Economic Equality,” found that “60 years after the famed March on Washington for Jobs and Freedom, where Dr. Martin Luther King, Jr., gave his landmark
Minnesota Spokesman-Recorder, August 18, 2023, Six decades after King’s historic speech, report shows Black economic equality is ‘still a dream’ Titled “STILL A DREAM: Over 500 Years to Black Economic Equality,” the report, co-authored by prominent experts Dedrick Asante-Muhammad, Chuck Collins, Omar Ocampo, and Sally Sim, and published by the Institute for Policy Studies (IPS) and National
Midlands Business Journal, August 11, 2023, Affordable Housing: Legacy of Redlining Stunts Healthy Growth The project, released in 2019, stems from a partnership from the University of Richmond’s Digital Scholarship Lab and the National Community Reinvestment Coalition where it digitized 200 HOLC grading maps from the 1930s. Using data from the 2018 U.S. Census’s American Community Survey
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Top Class Action, August 8, 2023, Feds investigate HSBC over lending discrimination claims The US bank holding company for HSBC Bank disclosed earlier this week that its main retail banking unit has been under investigation by federal housing authorities over claims revolving around potential lending discrimination. HSBC said it has been accused by the National Community Reinvestment
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Baltimore Banner, August 5, 2023, Why aren’t people of color getting more home loans in Maryland? Advocates are pushing for changes Two advocacy groups are pushing for a state version of the federal Community Reinvestment Act to ensure more equitable treatment of people of color by home lenders. In Maryland, Black and Latino applicants were
American Banker, August 2, 2023, HSBC’s U.S. arm faces HUD probe over redlining allegations HSBC’s U.S. division is under federal investigation for potentially engaging in discrimination against minority borrowers in six metropolitan areas. The U.S. Department of Housing and Urban Development is reviewing the bank’s lending practices in majority Black and Hispanic neighborhoods within the
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AIR, August 1, 2023, NCRC’S Van Tol On How Technology Can Change Consumer Finance As technology has transformed financial services in recent years, I think it’s fair to say that most consumer advocacy groups have focused on its downside risks, almost to the exclusion of upside opportunity. Today, there is of course continued concern about
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Bloomberg Law, July 31, 2023, CFPB Small Business Loan Rule Partially Blocked Fair lending advocates blasted Crane’s reasoning and the banks’ challenge to the rule. “It’s a ludicrous and retrograde position to take, in effect asserting a right to discriminate in secret to illegally deprive marginalized communities of economic opportunity,” Jesse Van Tol, the president
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Money Scoop, July 27, 2023, Too little, too late Also worth noting: The National Community Reinvestment Coalition found that there is a major gender wealth disparity among Black adults in the US, even though both Black men and Black women have significantly lower median wealth than their white counterparts. For context, single white men have a
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The Ink, August 24, 2023, The Secret Immigrants Keep, Even From Themselves The common American immigrant narrative — one especially propped up by Indian-Americans — is one of upward possibility. One escapes the tyrannies or doldrums or deprivations of elsewhere, and comes to America, and rises and thrives and becomes the fullest expression of oneself.
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WortFM, July 26, 2023, Repairing The Racial Wealth Inequality Divide Chief of Race, Wealth and Community for the National Community Reinvestment Coalition, Dedrick Asante-Muhammad talks about the foundations of wealth inequality from when early settlers needed cheap labor, thus creating racial inequality to justify enslavement of workers. His recent report, “From Affirmative Action To Reparations:
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New York Times, July 25, 2023, School District Woes Likened to ‘Environmental Racism’ in Flint, Mich. The East Ramapo public schools serve more than 9,200 K-12 students, and all 13 school buildings received a failing rating in a survey of building conditions completed by a New York-based architecture, engineering and construction management firm. The district’s school
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CBS News, July 25, 2023, From redlining to blacklining: Englewood organization to fix up abandoned home, sell to first-time homebuyers An Englewood organization is teaming up with the Cook County Land Bank to tackle decades of neglect and discriminatory practices that blocked Chicagoans from owning homes. Butler said that a different generation was forced into
