In the News

The Pitch, April 4, 2023, Ma’Ko’Quah Jones Indexes Indigenous Strategies For Climate Change Resilience The workers come from far away and live in a temporary shelter in a community that is likely very different from their own. The pay can be quite good, especially considering the local, usually rural, standard of living. Furthermore, local poverty […]

Washington Business Journal, March 30, 2023, Feds Issue Sweeping Rule On Small Business Loan Data Collection Both bank and nonbank lenders will have time before they will need to start reporting the data.

American Banker, March 30, 2023, CFPB Finalizes Data-Reporting Rule For Small-Business Lenders “Having the data set is very, very powerful especially when you can identify … what different lenders are doing,” CFPB Director Rohit Chopra said Thursday, drawing applause and cheers at a conference of the National Community Reinvestment Coalition. “By merely asking for the

Yahoo Finance, March 27, 2023, Fed’s Rate Hikes Hurt Lower-Income Homebuyers The Most, Study Finds “A volatile interest rate of over 7% is totally making it dismal for folks in terms of home buying,” Ibijoke Akinbowale, community impact director at National Community Reinvestment Coalition, told Yahoo Finance. Although the recent interest rate hikes affect all

TD Stories, March 27, 2023, TD Bank Deepens Impact In Philadelphia With $2.5 Million In Charitable Giving And Support For Diverse Homebuyers And Affordable Housing Programs TD Bank worked with local National Community Reinvestment Coalition (NCRC) members and Philadelphia community leaders to identify impactful initiatives that support areas of greatest need in the city, including

Charlotte Business Journal, March 24, 2023, TD Bank’s Charlotte Exec Talks Local Impact Of $50B Community Pledge Ahead Of First Horizon Merger TD Bank recently revealed a pledge to invest in local communities across the U.S. to complement its pending, $13.4 billion acquisition of First Horizon Corp. Hugh Allen, a TD Bank executive based in

Illinois Business Journal, March 21, 2023, DCEO Announces $175 Million In B2B Grants For Restaurants, Hotels, Creative Arts Industry In order to manage a high volume of applications in a timely manner, DCEO has enlisted a program administrator – the National Community Reinvestment Coalition Community Development Fund (NCRC CDF) – to support with application review,

The New York Times, March 18, 2023, A Landlord Got A Low Appraisal. He Is Black, And So Are His Tenants. Cincinnati lacks tens of thousands of affordable housing units, and the waiting list for Section 8 housing vouchers can stretch from one to five years. So in February 2022, as interest rates dipped to

NPR, March 17, 2023, “Creeping Segregation” Cited In New Report On Columbia Housing Dr. Bruce Mitchell, NCRC’s Senior Research Analyst, and Dedrick Asante-Muhammad, NCRC’s Chief of Organizing, Policy, and Equity, joined WYPR/NPR to discuss the study they co-wrote on Columbia, MD.

Consumer Federation of America, March 15, 2023, FDIC Should Downgrade FinWise Bank Over Predatory ‘Rent-A-Bank’ Lending “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

Birmingham Business Journal, March 14, 2023, GROWTH by NCRC Unveils First New Homes In Woodlawn Community GROWTH by NCRC, the city of Birmingham and Woodlawn United unveiled the first three of 16 newly constructed homes slated to go up in the Woodlawn community. “This is a wonderful community, and we are delighted to once again

Yahoo Finance, March 13, 2023, Digital Banking Trends In 2023 Between 2017 and 2021, 9% 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

MPA, March 13, 2023, Efforts To Reach Historically Neglected Segments Grow The quest to expand credit into historically neglected segments has been heightened in the last couple of years, with a growing list of initiatives emerging to fulfill the mission. Efforts on several fronts are underway to help expand the American Dream of homeownership to

Brookings, March 10, 2023, Forum On The future Of The Federal Home Loan Bank System Nearly a century ago, Congress created the Federal Home Loan Bank system (FHLBs) to promote home ownership and provide liquidity to thrifts (savings and loans) and insurance companies that primarily provided mortgages at that time. Today’s financial system is radically