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Why the Community Reinvestment Act Must Be Expanded Broadly Throughout the...
The financial industry has been one of the main perpetrators of racial discrimination. It should be obligated to serve all communities, particularly communities of color.
Speculators, Not CRA, Leading to Black Area Foreclosures
Foreclosures continue to decimate communities around the nation, with black neighborhoods being the hardest hit. Some pundits and politicians point to federal policies that...
Putting “Community” Back in “CRA”
The Community Reinvestment Act and regulators have been unable to hold banks accountable to distant and distinct local communities—so nonprofits have stepped in to do the heavy lifting.
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...
Where Do We Go From Here?
Traditionally underserved communities lost on bank modernization. Policymakers missed a great opportunity to expand CRA to the new players in the financial sector. Moreover,...
Scapegoating Blacks for the Economic Crisis
A simple, yet likely powerful, explanation has now been offered for the subprime mortgage-lending and foreclosure problems that have fed the nation’s gravest economic...
Financial Modernization – The Newest Threat To Neighborhood Vitality
Does banking legislation have the potential to either devastate or revitalize working class and minority neighborhoods?
Well, consider the following scenario. A hard-working single mother...
Tracing the Roots of CDFIs: A review of Democratizing Finance
This book is a major contribution to increasing knowledge and awareness of how far the community development finance movement has come in 30 years.
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,...
CRA Bill Getting a Hearing
Dion Spencer, NCRC’s director of legislation and regulatory policy just announced that a new Consumer Reinvestment Act bill will be heard by the House...
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...
A Strong Rule and Reforms Are Needed to Combat Payday Loans
Something astonishing happened when the Consumer Financial Protection Bureau (CFPB) asked the public for comments on its proposed rule to curb high-cost and abusive...
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...
We Must Rein in the Regulators
Following the presidential election, advocates working for economic justice are alarmed that ultra-conservatives in Congress will turn back the clock on access to credit,...
Only Halfway to Economic Democracy
Few books make me so angry that I must resist throwing them across the floor. One such book, published in 2002 (and since updated)...
LIHTC: How It Started, How It’s Going
The Low-Income Housing Tax Credit was created in a moment when other real estate tax preferences were going away—but at the time, no one expected it to grow into the main source of affordable housing finance in the country.
Housing Legislative News
Congress Guts CRA The bill that emerged from conference committee negotiations over the financial modernization bills, H.R. 10 and S. 900, would gut the...
Reclaiming a Community Focused Congress
The 110th Congress: What's in store for housing and community advocates?
Arts Build Community
CDCs now recognize that art and cultural activities can be useful tools toward building a community's identity, meaning, and spirit. But bank regulators have not yet reached a sufficient level of comfort with this new strategy.
The Seven Lessons of HMDA
$393 billion. That's the amount banks have committed to lend in low and moderate income communities nationwide since the Community Reinvestment Act (CRA) went...