PRESS ROOM: JPMorgan Chase Commits $30 Billion to Advance Racial Equity (Milwaukee Community Journal)
October 8, 2020
All Americans deserve equitable access to affordable housing and the physical, emotional and financial security it represents,” said Lisa Rice, CEO, National Fair Housing Alliance. “JPMorgan Chase’s new commitments will help make owning or renting a reality for more Black and Latinx families, whose housing access has been impeded by decades of systemic racism and are now disproportionately affected by the impact of COVID-19. Addressing the affordability crisis, now overlaid with the pandemic, will require many players on many fronts, and these commitments are concrete, meaningful steps in the right direction. Click here to read more.
October 2, 2020
The Department of Housing and Urban Development’s final rule on the disparate impact doctrine guts one of the most important fair housing tools, making it far more difficult for victims of housing discrimination to seek justice and for communities to combat segregation. Read the full article here.
October 1, 2020
Not approved, but not denied.
That’s the story one local man said happened when he applied for a home equity loan with a Regions Bank in the Nashville area despite having a near-perfect credit score, a six-figure income with a stable work history, no credit card debt, no car loans, no mortgages and a long history of business with the institution. Click here to read the full article.
September 29, 2020
A civil rights group has purchased land in Woodbridge as part of an effort to force the New Haven suburb to provide more affordable housing.
The Open Communities Alliance announced Tuesday that its Open Communities Trust has applied to build a small multi-family development with a mix of market-rate and affordable rental units on that land. Read more here.
September 25, 2020
Landlords increasingly use screening services to weed out renters. Advocates say both landlords and the algorithms should be accountable when things go wrong. Click here to read more.
September 22, 2020
Senate Democrats released a report Monday alleging that the Trump administration has undermined fair housing policies and exasperated racial inequities. Click here to read more.
September 19, 2020
With more sales conducted online, there’s hope that discrimination in car buying will begin to fade. In 2018, the National Fair Housing Alliance released a study on car buying, comparing the experience of white people with that of non-white people. White people were given more favorable financing options, with non-white car buyers paying an average of $2663 more over the course of their loans than less qualified white people. Click here to read more.
September 18, 2020
Lisa Rice, the president and chief executive of the National Fair Housing Alliance, said she was skeptical when mortgage lenders said their algorithms considered only federally sanctioned variables like credit score, income and assets. “Data scientists will say, if you’ve got 1,000 bits of information going into an algorithm, you’re not possibly only looking at three things,” she said. “If the objective is to predict how well this person will perform on a loan and to maximize profit, the algorithm is looking at every single piece of data to achieve those objectives.” Read more here.
September 17, 2020
When Joe Biden’s campaign unveiled its housing plan, one word near the top jumped out. The plan, which would invest $640 billion over 10 years, vows to end discriminatory and unfair practices in the housing market, including “redlining.” Read the full article here.
September 17, 2020
About one million homeowners have fallen through the safety net Congress set up early in the coronavirus pandemic to protect borrowers from losing their homes, according to industry data, potentially leaving them vulnerable to foreclosure and eviction. Click here to read more.