I recently read an eye-opening book entitled “Scarcity: Why Having So Little Matters So Much,” by Sendhil Mullainathan and Eldar Shafir. It’s about how scarcity of time, money, food, and sleep affects our brains, creating a tunnel vision.
Washington, DC - Today, the National Community Reinvestment Coalition (NCRC) released a report entitled “Access to Capital and Credit in Appalachia and the Impact of the Financial Crisis and Recession on Commercial Lending and Finance in the Region.”
Ten mortgages to African Americans in 2012. Zero bank branches in low-income communities or communities of color. And below-peer-level lending to low-income communities in all of its assessment areas.
The Consumer Financial Protection Bureau (CFPB) announced last week that it will begin collecting consumer complaints on payday loans.
In 2011, the federal banking regulators released rules defining a “Qualified Residential Mortgage (QRM).” The definition of a QRM matters to the communities we serve because it will substantially affect how affordable mortgages will be.
How can organizations from different sectors overcome barriers and collaborate to promote a housing market recovery and revitalize communities?
Chicagoans had an opportunity last week to voice their concerns about different types of consumer credit to the director of the Consumer Financial Protection Bureau (CFPB), Richard Cordray.