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Financial System
“Income is how you get out of poverty; assets are how you stay out.” How do we build policies, programs, and products that reduce systematic inequality and advance financial security for all?
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When the Feds Step Back on Fair Housing, Can States Step Up?
It's not new for states and localities to have their own fair housing and community reinvestment measures—but as the federal government backs away from enforcement, their versions may become more important.
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Strange Bedfellows
What does it mean to stabilize neighborhoods at scale? Barring the appearance of a community development fairy godmother, it means having resources. The past several years have seen an outpouring […]
Extending a Bank Branch to the Community
The systemic closing of bank branches in low- and moderate-income neighborhoods is followed by payday lenders, pawnshops, and check cashing services stepping in to fill the void.
Does the Current Reliance on Credit Scores Deny Deserving Applicants?
Last week, we asked readers if credit scores were too much of a driver in home loan approval. You answered overwhelmingly that yes, credit scores prevent often worth applicants from […]
More Mission
The Affordable Housing Program of the Federal Home Loan Banks is a marked success, and should be a model for expanding the system’s investment in economic development.
Economic Development at FHLBanks
FHLB: Atlanta PROGRAM: Economic Development and Growth Enhancement Program (EDGE) MEMBER: Branch Banking & Trust of North Carolina (BB&T Bank) RESULT: In the Shaw neighborhood of Washington, D.C., Emmaus Services […]
Is the Mortgage Interest Deduction Vulnerable?
Shelterforce and the National Housing Institute have been outspoken about the need to change the mortgage interest deduction — the country’s largest housing subsidy, which accrues primarily to wealthy households […]
Bair: Mortgage Crisis Shows We Need a Level Playing Field
FDIC Chairman Sheila Bair emphasized the “common goal” that should exist between banks and consumers regarding access to credit and healthy lending for the health of consumers and banks, as […]
The Rising Tide of Bank Protests
Despite Dodd-Frank and the Consumer Financial Protection Bureau, distrust for the banking industry in the United States remains palpable, and now we’re beginning to see a sustained, organized counterattack. Bank […]
Can’t Sue ‘Em? You Can Move Your Money
Local governents, frustrated (there’s an understatement for you) with the devastating effects of massive foreclosures have tried suing lenders for essentially offering defective products, and also for discriminatory treatment. Albany […]
Speed ’Em Up or Slow ’Em Down?
the Florida State Legislature was launching a $9.6 million effort intended to unclog the court system by establishing foreclosures-only courts across the state
Shel Trapp, Organizer, NPA Founder, Dies at 75
Shel Trapp has died at the age of 75 after a brief illness. Along with NPA (National People’s Action) co-founder Gale Cincotta, Shel was central to the passage of HMDA […]
Disappearing Act
Facing financial difficulties as new technology takes customers away, the United States Postal Service reviewed 3,300 branches to find those that could be deemed disposable. In low-income communities, just how disposable are the final 162?