In the News

“Adding new private guarantors to the housing finance system and privatizing Fannie and Freddie would not only increase costs, but will incentivize guarantors to chase the most lucrative markets and serve only the most profitable borrowers or regions of the country. Such a scenario would enable taxpayer-backed companies to evade their duty to serve the entire market, including urban and rural areas,” the groups said Thursday in a joint statement.

Issuing the statement were the Center for Responsible Lending, National Urban League, National Fair Housing Alliance, National Community Reinvestment Coalition, Leadership Conference on Civil and Human Rights, NAACP, National Coalition for Asian Pacific American Community Development, UnidosUS (formerly the National Council of La Raza) and the NAACP Legal Defense and Education Fund.

“It’s a cultural, civil rights and business problem that should be relegated to history, but instead it’s still a factor in who gets access to capital,” said Jesse Van Tol, chief executive of the National Community Reinvestment Coalition. “This is exacerbating the nation’s profound racial wealth divide.”

National Community Reinvestment Coalition says that redlining buttressed the segregated nature of cities.

“We know that when it comes to things like denial disparities, from the point of actually applying for a loan, there are disparities by race and gender, but this is really pre-application, what’s the experience of minority-owned businesses in even inquiring about a bank loan,” says Jesse Van Tol, CEO of the National Community Reinvestment Coalition (NCRC), the national network of bank watchdog and community development groups that commissioned the new research.

“HUD’s proposal makes it far more difficult for those injured by stealth discriminatory policies to prove discrimination,” community-investment organizer Jesse Van Tol told ABC News. “The bar was already set high and HUD‘s proposal would put it in the stratosphere — it really strains credulity.”

The memo from the Committee’s Majority Staff to Committee Members states that the hearing “will examine access to affordable housing, credit, and banking services in low and moderate-income (“LMI”) neighborhoods.”

Truist Bank announces $60 billion community investment plan.

In a span of 13 years, more than 20,000 African American Washingtonians have been booted by primarily white, high-income new residents, according to a study by the National Community Reinvestment Coalition.

Do personality tests like the Myers-Briggs help managers learn their team’s working styles, or just encourage them to hire and promote people like them?

As banking services move online, many agree implementation of regulations should change—but not everyone agrees how.

For generations, racial covenants and redlining devastated housing in the city’s historically African-American neighborhoods north of Delmar Boulevard. Now a new mortgage program seeks to reduce hypervacancy and make homeownership feasible for residents.

The Trump administration on Friday proposed a new rule that would make it harder for Americans to file complaints of housing discrimination, a move officials said was necessary to protect businesses from unnecessary legal exposure.

Many studies have concluded that the CRA has a significant positive impact on lending to minority and low- and moderate-income borrowers.

The Department of Housing and Urban Development released a proposed rule Friday that would make it more difficult to bring discrimination claims under the Fair Housing Act, a move that is drawing protests from civil rights groups.