Organizing Access to Capital: Advocacy and the by Gregory D. Squires

By Gregory D. Squires

Group activists have been extremely joyful with the passage of the neighborhood Reinvestment Act, yet they got here to achieve that it should take greater than the be aware of legislations to result in actual swap. This publication offers voice to the activists who took it upon themselves to agitate for elevated funding via monetary associations of their neighborhood groups. They inform in their struggles to get banks, personal loan businesses and others to reconsider their lending regulations. Their tales, drawn from reviews in Chicago, big apple, Milwaukee, Boston, Pittsburgh, and different towns round the state, supply perception into the best way our political/economic approach quite works.Gregory D. Squires is Professor of Sociology at George Washington collage. He has served as a specialist and professional witness for reasonable housing teams and civil rights firms round the kingdom together with HUD, the nationwide reasonable Housing Alliance, the nationwide neighborhood Reinvestment Coalition, etc. He additionally served a three-year time period as a member of the shopper Advisory Council of the Federal Reserve Board. he's the co-editor of "Color and cash: Politics and customers for group Reinvestment in city America".

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For Josephine to end up with that place in history as the catalyst was probably the most unlikely turn of events and person that could be. But that's where $80 billion in reinvestment came from. " Leaders were troubled by the discrepancy between mortgages guaranteed by the Federal Housing Administration and mortgages from conventional sources. " Implicit in receiving government insurance on a loan is the idea that conventional pri- Copyrighted Material WHERE DID BILLIONS OF DOLLARS FOR REINVESTMENT COME FROM?

In Business Access to Capital and Credit. Ed. Jackson 1. Blanton, Alicia Williams, and Sherrie 1. W. Rhine. : Federal Reserve System. Center for Community Change. 2002. : Center for Community Change (January 28). Dedman, Bill. 1988. The Color of Money. Atlanta Journal/Constitution (May 1-4). - - - . 1989. Blacks Turned Down for Home Loans from S&Ls Twice as Often as Whites. Atlanta Journal/Constitution (January 22). Dodge, Robert, and Stephen Power. 1998. Gramm Takes Shot at CRA-Kirk Fights Back.

The Northwest Bronx Community and Clergy Coalition was developing several challenges in New York City. In Cleveland, the Buckeye-Woodland Community Congress was preparing a massive campaign against Ameritrust Bank, and the Union Miles Community Coalition was preparing its campaign against Security National Bank. Meanwhile, organizers focused on the federal regulatory agencies that would draft the regulations. In January 1978, the regulatory agencies that would be required to enforce the Community Reinvestment Act (the Comptroller of the Currency for national banks, the Federal Reserve Board for bank holding companies and state banks that belonged to the Federal Reserve System, the Federal Deposit Insurance Corporation for state-chartered banks that were not members of the Federal Reserve System, and the Federal Home Loan Bank Board for savings institutions) announced they would hold hearings to "receive suggestions from the public on how to implement the new law" (Bradford and Cincotta 1994).

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