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Can We Prevent Slumlords from Buying More Buildings?
Why should owners of buildings in illegally poor repair be able to buy more rentals? As Washington, D.C., found, it’s not the easiest thing to prevent.
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Capital Campaigns
Burdened by the typical funding limitation CDCs face – program specific, short term, restricted use, etc. – Isles, Inc. of Trenton, New Jersey decided to create an endowment – invested […]
Financial “Progress” Leaves Communities Behind
For the past 20 years, the financial services industries have lobbied Congress to rewrite the key law that regulates them to better serve their particular interests. President Clinton has just […]
Opportunity in Next Wave of Mergers
Final passage of the Gramm-Leach-Bliley bill means neighborhoods are likely to face two new investment battles, one local and one national. Locally, we’ll face a window of opportunity for new […]
Into Every Life a Little Sunshine Must Fall
An important part of the National Low Income Housing Coalition’s mission to ensure decent, affordable housing within healthy neighborhoods for everyone is the work state housing coalitions have done with […]
Congress Passes, Communities Pay
The Gramm-Leach-Bliley paves the way for a wave of mergers creating Citigroup-like conglomerates that span banking, insurance and securities, and control hundreds of billions of dollars in assets. The bill […]
You Get What You Need
To quote Mick Jagger, “You can’t always get what you want, but if you try real hard, you’ll get what you need.” The CRA provisions in the financial modernization bill […]
Banks Spend Millions To Line Their Pockets With Your Money
In 1997 and 1998, banks, insurance companies, and brokerage firms spent over $300 million on lobbying and political contributions. While their “investment” in pushing so-called financial modernization legislation through Congress […]
Financial Reform Bill a CRA Coup, Despite Its Flaws
Though some have declared war on the financial services modernization legislation, it is important to keep perspective on issues such as the Community Reinvestment Act (CRA). The conference agreement between […]
Communities Need to Capitalize on Financial Services Modernization Act
Seldom in legislation as complex as the recently enacted Financial Services Modernization Act does any group get everything it wants. In this case, however, I suspect that nearly everyone involved […]
CRA Weakened
The Community Reinvestment Act, a major tool for twenty years in bringing capital and fairer banking into low income neighborhoods, has been weakened by this year’s financial deregulation bill. This […]
Rural Lending in the Financial Modernization Era
The banking industry has touted financial modernization as revolutionary legislation that will improve services and reduce costs for all Americans. The actual outcomes may be mixed for rural areas, which […]
Financial Modernization: A CRA Organizer’s Worst Nightmare
Shortly after the passage of the Financial Modernization Act, a banker was heard to say to Phyllis Salowe-Kaye, the executive director of New Jersey Citizen Action, “Now you folks are […]