In the News

WBAL-TV 11, June 20, 2022, Harbor Bank chooses Juneteenth to open new branch at Northwood Commons The opening of the bank branch comes as the Baltimore region has seen the second-highest rate of bank branch closures in recent years. Between 2017 and 2021, the number of bank branches dropped from 685 to 589 in the […]

Kiplinger, June 13, 2022, Retirees, Be Aware of the Murky Rules Behind Financial Apps Karen Kali, senior program manager at the National Community Reinvestment Coalition in Washington, D.C., says that both the EverSafe and SilverBills apps are great examples of a product that could be useful for seniors. While EverSafe monitors banking transactions and credit cards

The Financial Brand, June 15, 2022, FedNow Will Propel Real-Time Payments Into the Banking Mainstream The issue of security in the FedNow system has raised red flags from some consumer groups. “The Fed must take measures before FedNow launches to ensure that it does not become a haven for fraud,” says a joint statement by

Greater Greater Washington, June 14, 2022, Understanding why the region grapples with unequal access to TOD Between 2000 and 2013, about 40% of the city’s lower-income neighborhoods experienced gentrification, according to a 2019 study by the National Community Reinvestment Coalition. In the report, NCRC recognized that the term gentrification is both complicated and complex. The

Business Insider, June 14, 2022, Understanding redlining and how it kept communities of color from homeownership “Almost invariably, neighborhoods that had any African American presence were graded as hazardous in their mapping system,” says Bruce Mitchell, senior research analyst at the National Community Reinvestment Coalition. Mitchell co-authored a study from the NCRC on the health of formerly

The Grio, June 6, 2022, Detroit program helps connect Black business owners with capital Numerous studies have highlighted the financial disparities between white and Black business owners. For example, the National Community Reinvestment Coalition found that banks treated applicants differently based on race as businesses sought pandemic-related Paycheck Protection Program loans. According to a 2021 report in Nerd

The Washington Post, June 6, 2022, ‘We’re all afraid’: Massive rent increases hit mobile homes Surging home prices and rents are cascading down to the country’s mobile home parks, where heightened demand, low supply and an increase in corporate owners is driving up monthly costs for low-income residents with few alternatives. At the same time,

American Banker, June 3, 2022, As mortgage market cools, fraud risk heats up Jason Richardson, the senior director of research for the National Community Reinvestment Coalition, said it is difficult to quantify the distortionary effects of mortgage fraud on the overall housing market given the myriad issues limiting affordability and attainability. Still, Richardson said, some

PR Newswire, June 2, 2022, OnPoint Community Credit Union Celebrates Anniversary of Its Largest Branch Expansion with Special Member Promotions As financial institutions continue to close, “branch deserts” have emerged in lower-income and minority communities, requiring residents to travel long distances to access in-person financial services, according to the National Community Reinvestment Coalition (NCRC).

Boston Business Journal, June 3, 2022, Supporting the Engine of Small Businesses Small businesses are an engine to create financial sustainability and economic mobility, which can build wealth. However, wealth creation through business ownership is far less likely for Black and Latinx owners. The National Community Reinvestment Coalition has found that this is in large

The Daily Illini, June 4, 2022, Predictive policing models encode problematic assumptions According to a report by the advocacy group National Community Reinvestment Coalition, 74% of the neighborhoods the HOLC marked as high-risk or “hazardous” are now low-to-moderate income and nearly 64% are minority neighborhoods. Even with directly identifying information removed from consideration, characteristics like

National Mortgage News, June 3, 2022, Movement Mortgage agrees to resolve discrimination claims In October, the National Community Reinvestment Coalition filed a complaint with the Department of Housing and Urban Development, claiming a Movement loan officer engaged in discriminatory practices in two separate testing scenarios conducted months apart by the Washington, D.C.-based nonprofit. In each

Housing Wire, June 2, 2022, HUD dings Movement Mortgage for alleged fair housing violations Movement Mortgage will pay $75,000 to resolve allegations of racial discrimination, in violation of the Fair Housing Act, identified by undercover testers from the National Community Reinvestment Coalition. “NCRC’s testing data showed that Movement Mortgage agents engage and facilitate an inviting

CNBC, June 1, 2022, If your local bank branch has closed for good, you’re not alone — here’s what you can do While this trend is widespread, it’s been hitting low-income and majority-minority communities even harder. According to the National Community Reinvestment Coalition, one-third of the branches closed from 2017 to 2021 occurred in areas