Financial System

When this limited-equity cooperative in California began more than 30 years ago, it wasn’t the most affordable place to live. But now the co-op’s monthly costs are 50 percent lower than the average market-rate apartment.

A: More than half are elderly or disabled. Of the rest, most of them do have a job! Ninety-four percent of rental assistance receipts are …

A government report concludes that residents of low- and moderate-income Census tracts have as much access to bank branches as residents in middle- and upper-income tracts in rural areas and large metropolitan areas. Yet access to bank services for low- and moderate-income consumers is still being lost. Why is that?

Banks enjoy consumer and taxpayer-funded privileges, such as deposit insurance, and not too long ago, subsidized trillion-dollar bailouts. It’s not too much to insist that they invest a fair share of those dollars back into all of our communities.

After the housing crash, Chicago’s 1- to 4-unit rentals weren’t bouncing back in many neighborhoods. Three CDFIs came together to make it happen.

Talk of tax reform has reached a fever pitch, but most Americans don’t realize just how high the stakes are and what impact the final legislation could have on their own financial security for years to come.

It is often said that you get what you pay for. Clearly, too little is being paid to create positive change in America’s most vulnerable places.

In 2010, the scattered enforcement of consumer protection and fair lending laws across several agencies would end. The CFPB would have broad oversight over banks and non-banks, and though not perfect, this model has produced some impressive results.

If expanding access to homeownership can reverse the trends of growing racial wealth inequality, why are we seeing so many states roll back the supports that make homeownership possible?

A review of HUD’s Cityscape issue, which is devoted to reviews and studies of the Community Reinvestment Act at its 40th anniversary.

When the 2017 Prosperity Now Scorecard was published last month, it was no surprise that Louisiana ranked second-to-last among all 50 states and the District of Columbia, as it typically falls somewhere near the bottom. In many ways, the Scorecard confirmed what we already knew: that most Louisiana families, especially low-income families and families of color, are not faring well financially. What was surprising, however, was how far Louisiana had fallen.

Some CDFIs approve loans based on a person’s character instead of their credit score. But they only recommend
doing so when you know the applicant.