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NCRC

NCRC Statement On President Biden’s Veto Of Section 1071 Repeal

WASHINGTON, DC — After President Biden vetoed a Congressional Review Act measure repealing recently adopted small business lending data rules known as Section 1071, National Community Reinvestment Coalition (NCRC) President and CEO Jesse Van Tol released the following statement: “This is how a doomed and dishonest attack on small businesses ends: not with a bang, […]

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Case Study: How Black Businesses Can Build Competitive Advantage For Anchor Procurement With The Atlanta Wealth Building Initiative

Black-owned small businesses often struggle to reach major-funder “anchor institutions” in their communities that contribute significant resources to support other entrepreneurs. But that is a solveable problem.

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Case Study: How The El Paso Hispanic Chamber Of Commerce Is Ensuring Capital Readiness For Rural Hispanic Entrepreneurs

All rural business owners face special challenges, but none more so than those from social groups that have long been fenced out of key financial services. We’re solving that problem.

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NCRC And First Citizens Announce $6.5 Billion Expansion Of Community Commitments In California And Massachusetts

The National Community Reinvestment Coalition (NCRC) and First Citizens Bank today announced an amendment to their previous community benefits agreement, extending the bank’s longstanding community support to Northern California and Massachusetts following its March acquisition of Silicon Valley Bank (SVB).  The additional commitment, which recognizes pre-existing Silicon Valley Bank relationships, establishes a new $6.5 billion

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The Racial Wealth Divide and Black Billionaires Across the Globe

As conversations regarding the rapid concentration of wealth dominate economic and political discourse, it’s worth analyzing the details of wealth within the billionaire class. However, little attention has been paid to billionaires of African descent.  Twenty-four people of African descent have appeared in the Forbes billionaires list. People of African descent have historically been locked

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KeyBank’s Betrayal Of Black And Low-Income Homebuyers Continued In 2022

KeyBank continued its years-long retreat from promoting Black and low-income homeownership in 2022, an analysis of the most recent federal data on mortgage lending reveals. Black borrowers made up just 2.6% of the Cleveland-based bank’s home purchase mortgage lending in 2022, down from 3% the year prior. KeyBank has been pulling back from supporting Black

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The Racial Wealth Divide and US Black Billionaires

When the first Black billionaires emerged, most stemmed from the entertainment industry.  In 2001, Black Entertainment Television cofounder Bob Johnson was the world’s wealthiest Black person with an estimated net worth of $1.6 billion. By 2021, Johnson’s estimated fortune had fallen by more than half – meaning he no longer appeared on annual magazine lists

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New Report On Federal Home Loan Banks Can Be Springboard To Much-Needed Reforms

A rich new federal report assessing the Federal Home Loan Bank (FHLB) system will help the public and policymakers achieve effective reforms to improve the FHLBs’ future performance, community advocates said Wednesday. “Government support is crucial in closing the racial homeownership divide, but the dollars deployed through the FHLB system are too often captured on

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