W O R K S 6 NCRC Annual Conference Draws Hundreds of Advocates

Summer 2007 A Publication of the National Community Reinvestment Coalition

PAGE Visit us on the web at www.ncrc.org Senator Hillary Rodham Clinton speaks Reinvestment at NCRC annual conference W o r k s 6 NCRC Annual Conference Draws Hundreds of Advocates

Presidential candidates, civil rights leaders, housing advo- 30 Years of CRA cates, CRA groups, bankers, lenders, community activists This year’s national conference celebrated and organizers all converged on Washington DC this spring the 30 year anniversary of the passage of for NCRC’s 2007 annual event. This year’s conference, the Community Reinvestment Act (CRA). “Broken Economies: Making Markets and Governments After 30 years, CRA is an especially Work for All Communities” was attended by over 600 people effective and resilient piece of legisla- between March 14-17 at the Hyatt Regency on Capitol Hill. tion, having survived significant political NCRC’s annual conferences each year are the nation’s largest challenges that were designed to weaken gatherings of economic justice proponents and supporters and even eliminate it. Since the passage of the Community Reinvestment Act (CRA) as a tool for of CRA in 1977, lenders and community economic development. Members, allies and others enjoyed organizations have signed CRA agree- opportunities to network with each other, contribute to the ments totaling more than $4.7 trillion in debate over national and international initiatives, and to reinvestment dollars. hear from nationally known speakers. continued on p. 6 Over 600 advocates met in Washington DC for NCRC’s annual conference.

James Carr Joins A Call to Action from NCRC President NCRC Staff as and CEO John Taylor

Chief Operating Dear NCRC members and allies: step in the Senate and can provide a platform to leverage stronger legislation. S1299 goes a long way in addressing: Officer A few moments of your time can have an important impact on our collective efforts to end predatory lending practices • Guaranteeing faith and fair dealing standards for all NCRC is pleased to announce and can help prevent millions of American borrowers originators the appointment of James from falling into foreclosure this year. Today we are pay- • Underwriting at maximum possible rate H. Carr to the position of ing the price for reckless lending in the mortgage market. Chief Operating Officer. As As mortgages reset and borrowers face foreclosure, millions • Requiring originators to create escrow to pay taxes and COO, Jim will serve under of Americans are at risk of losing their homes. hazard insurance on subprime loans President and CEO John Recently, Senators Schumer, Casey and Brown • Escrow of taxes and hazard insurance on subprime loans Taylor and will supervise the made a bold step forward in the fight against preda- • Prohibiting “steering” — brokers may not direct or organization’s other executive tory lending practices in America by drafting The counsel a consumer to rates, charges and principal staff, assist in the implemen- Borrower’s Protection Act of 2007 (S1299). NCRC and amounts or prepayment terms that are not appropriate tation of NCRC’s strategic its allies and friends need to show community interest or suitable for the borrower plan and manage day-to-day operations. Jim will also and urge our Senators to support this effort. represent NCRC at conferences, symposia, press events This bill will not move ahead unless Senator Dodd, • Establishes a fiduciary duty for mortgage brokers and and other public forums, to explain the work of the the Senate Banking Committee Chair, calls it up for a hear- other non-bank mortgage originators organization and build support for its mission. ing. NCRC members and allies need to urge Senator Dodd • Prohibiting originators from influencing the appraisal “We’re delighted that Jim has accepted this impor- to take the S1299 up in committee. As Chair, Senator Dodd process tant position with NCRC,” says President and CEO John is the only one that can call the bill up for a hearing. Taylor. Carr’s extensive background and successful track S1299 is not the comprehensive national anti-preda- • Finally, S1299 calls for a $300 million foreclosure pre- record in promoting access to financial services, as well tory lending bill we seek, but it is the first meaningful vention fund to assist non-profits in counseling, loan continued on p. 15 workouts and refinancing continued on p. 9

PAGE PAGE Also in this issue of Woodstock Institute NCRC CEO John Taylor honors Calvin Holmes of and Nobel Prize winner 2 the Chicago Community 14 Mohanned Yunus at AEO Loan Fund ReinvestmentW o r k s meeting in Kansas City

ReinvestmentW o r k s AssistantDirector, Coalition Relations Director,National Training Academy DevelopmentandLender Relations Administrative Assistant DCMBEC Assistant Administrative Email:[email protected] Fax(202) 628-9800 Phone:(202) 628-8866 900, Washington,DC 20005 NCRC,727 15th Street, NW Suite tionsand comments. Contact us at: and well being of our society. detrimental to the economic growth discrimination is illegal, unjust and services and products because fair access to credit and banking (NCRC). NCRC seeks to increase Community Reinvestment Coalition lished quarterly by the National Reinvestment Works is pub Member Organizing/Advocacy Member Communications Coordinator Communications Senior Fair Lending Specialist Lending Fair Senior Finance Director of DCMBEC of Director Finance Office & Financial Manager Financial & Office Executive Assistant to CEO to Assistant Executive NCRCwelcomes your ques Manager,Entrepreneurial Michael D. Mitchell, Esq. Mitchell, D. Michael Special Assistant to CEO to Assistant Special Senior Research Analyst Research Senior Coordinator,Economic Fair Housing Specialist Housing Fair Fair Lending Specialist Lending Fair Specialist Lending Fair Specialist Lending Fair Specialist Lending Fair Specialist Lending Fair VP Coalition Relations Coalition VP VP Legislative Affairs Legislative VP VP,Policy & Research Senior Accountant Senior Patrice Davenport Patrice David Berenbaum David Director,DCMBEC Justice Campaign Justice Maria Middleton Maria Research Analyst Research Kathryn TerzanoKathryn Kathleen Moore Kathleen President & CEO & President Jonny Goldstein Jonny VondettaCarter Chrystal Searles Chrystal Rasheedah Bilal Rasheedah VP Fair Lending Fair VP LyonelLaGrone Zorana Hudnell Zorana Shawna Nelms Shawna Owen Jackson Owen Hiba Abdallah Hiba Lita Grossman Lita Jah-Asia Nuru Jah-Asia Allison DeFoe Allison Lloyd London Lloyd Julia Rodgers Julia Marcy Meyer Marcy Joshua Silver Joshua Jesse VanTolJesse Ada Albright Ada Dica Adotevi Dica Director,CRF Executive VP Executive VP Executive Ruth Dickey Ruth John TaylorJohn Kevin Cowl Kevin Sylvia Lake Sylvia Jamie Wolf Jamie James Carr James AvisAllen Associate COO CFO -

said Taylor.said manypredatorycreates andpractices strong a them,”mandate end to absent. been expansionlaw an thethatWhatoutlawson is weneed principledpeople, coupledregulatoryenforcement with haswhich notrely solelylenderonprinciples. “Principlesaredependent upon Taylor,spokewhopress theat conference unveilto legislation. the torshelptoprevent foreclosurea again,” fromoccurring crisis said problemthe tighteningstandards — of for mortgageheart origina theat thatgets bill Congressa plateMember thestep totoof with refinancetothemloans. their targetingresourcesand homes bytheirallowing in keeptofamilies America.Taylor praisedSchumer fortighteninglending standards foreclosures of acrossfromneighborhoodsdevastating and families legislationhelptosubprime borrowers would prevent huge numbers JohnTaylor U.S.said Senator CharlesE. Schumer’s proposed (NY) NationalCommunityReinvestment PresidentCoalition CEO and TougherRegulatory Measures Borrowers&Tighten Standards, Calls for NCRCPraises Senator Schumer’s Bill to Help politanChicagoland, focusawith on CCLFworks throughout metro ate-incomecommunities Chicago.in activitiesbenefiting low- andmoder ingandcommunity development lenderthat finances affordable hous LoanFund (CCLF), localnonprofita directortheChicago of Community WoodstockInstitute. MalcolmBush, president of the onbehalf of CDFIs and CRA,” says Coalitionand his national advocacy ChicagoCommunity Reinvestment LoanFund, for his leadership in the leadershipof the Chicago Community Calvinfor his energetic and creative hoodsacross the region. commitmentto revitalizing neighbor Receptionon Tuesday, April24, for his atits 2007 Community Reinvestment Awardfrom the WoodstockInstitute oredwith a Community Reinvestment CalvinL. Holmes is among those hon InstituteCommunity Reinvestment Award CalvinL. Holmes Honored with Woodstock TaylorCongressurgedtougher regulatory pass measuresto and “Senatorcommendedfirst the be forSchumertobeing is Mr.Holmes theisexecutive “Weare deeply indebted to - - - - - chair,and Calvin L. Holmes, CCLF Executive Director AdaSkyles, PhD, JD, Woodstock Institute board - amount of equity over the life of a loan. a over equity of lifeamountthe of monthovernearlya or$100,000 30-yearperiod,$276 a substantial a servicers,and NCRCreduced has mortgagepaymentsaverage byan closures.Byrenegotiating borrowers’onloans lenders with behalf Schumer’sbill, wouldCRF receive resources work.itsexpand to abusiveborrowers of lendingpractices.have whovictims been Under rowersdidn’t createproblem. this Greedy lendersbrokersand did.” thatlenders “takepublicresponsibility” crisis.forthe “Greedybor mustLatinosblacksstop.”and and poor the reasonable.andthatfeesare fair with and elderly,preyingtheon The out.bailed ting Borrowersrepay but atinterestloans their will rates defaultsforeclosures,and Taylor said, “Toget oneis no — clear be

Since 2001, the CRF has helpedSinceover2001,has borrowers CRF 5,000 the avoid fore NCRC'sNational Anti-PredatoryConsumer RescueassistsFund TaylorSchumer’ssaid two-to-one lendersmatchensures with CommentingSchumer’son helpeffortstoborrowers facing Christ. Center;Trinityand United Church of the Women’s of Business Development Reinvestment AwardsareKelly Mizeur, munities. lower-incomement in com minority and reinvestment nity economicand develop internationallyand promoteto commu nonprofitthatworks locally, nationally, advocacyand Chicago-based oldpolicy aboutcommunity reinvestment. institutionsto participate in the debate mentactivity by private sector financial siondepends on critical lending and invest bringstogether organizations whose mis convenedby the WoodstockInstitute which CRACoalition, an umbrella organization InvestmentsTask Force of the Chicago lower-wealthnorthlakefront communities. corridorssouthernin Cook County and Lawndaleand Woodlawnandsuburban theneighborhoods Englewood, of North Also honoredCommunityAlso 2007 with The Woodstock33-yearInstitutea is Mr.Holmes chairs the Grants and

n ------ ReinvestmentW o r k s

Chair Alliance NCRC NCRC Secretary Treasurer Vice Vice Chair Jim Hunt Jim Foundation Gail Burks Gail Partnerships LEED Council Alan Fisher Alan Pete Garcia Pete Development Development Lee Beaulac Lee Elbert Jones Elbert Moises Loza Moises Action Council Ted Wysocki Ted Jean Ishmon Jean North Carolina North Carolina Matthew Lee Matthew Eugene Lowe Eugene of Lehigh Valley Charles Harris Charles Alan Jennings Alan Investments, Inc. Malcolm Bush Malcolm Vice Vice Chairperson Dean Lovelace Dean Stella J. Adams J. Stella Metro Milwaukee Shelley Sheehy Shelley Morris Williams Morris Rural Housing, Inc. Irvin Henderson Irvin Maryellen Lewis Maryellen Dayton Community Fair Housing Center Diane Thompson Diane Bethany Sanchez Bethany Fair Housing Council American Community Delaware Community Community Enterprise Reinvestment Institute Rashmi Rangan, Esq. Rangan, Rashmi The Woodstock The Institute Woodstock Rural Opportunities, Inc. Edward J. Gorman, III Gorman, J. Edward Development Corporation U.S. Conference of Mayors Chicanos Por La Causa, Inc. Housing Assistance Council Vermont Slauson Vermont Economic Board of Directors of Board Ernest (Gene) E. Ortega E. (Gene) Ernest Coalition of Neighborhoods Marva Smith Battle-Bey Smith Marva Reinvestment Association of MSU Community & Economic Past Chairperson, Community Community Action Committee Housing Education & Economic WV Housing Development Fund Land of Lincoln Legal Assistance Nevada Fair Housing Center, Nevada Inc. Fair Housing Center, Northwest Indiana Reinvestment River Cities Development Services California Reinvestment Coalition Inner City Press/Fair Finance Watch Finance Press/Fair City Inner - - -

, ,

- continued on p. 5 p. on continued Reverend Dr. William William Barber II Dr. Reverend

the most effective partnership with the effective most or one the or advance to protect non-profits more of disadvan conditions rights or economic Congressman The late taged consumers. his constitu Gonzalez (D-TX) represented where encyHill, and long well on Capitol award reflects the long devotion of the devotion reflects its long award to the namesake ofcause urban revitaliza co- of Company, the Founder Rouse tion. and of founder Foundation the Enterprise Medal of the the 1995 Presidential recipient is an Rouse enduring Mr. of Freedom, allmodel for developers. Winner: — Reverend ofNAACP the Carolina North of Barber the II is president the current of the Conference State Carolina North and also served the for past 12 NAACP as ofminister years the Greenleaf Christian Carolina. North in Goldsboro, Church has He served as at minister campus direc NCCU as and the later executive Rights oftor Human the Carolina North then by Governor appointed Commission, Hunt. Jim The Honorable Henry Gonzalez Award organization to the non-profit Presented entity or official forges that or government ------, NCRC Board Member Board Member NCRC , Moises Loza Moises

community of Columbia Maryland, this Maryland, of community Columbia emphasis on the poorest of on the poorest the emphasis poor in the has Loza dedi Moises ruralmost places. his cated life to bettering con the housing families ofand ditions rural low-income nationwide. communities The James Rouse Award organi to the urban non-profit Presented has that zation made the outstand most and justice to economic ing contributions the for Named development. community Seaport, South Street York’s of New creator and Quincythe planned Market Boston’s Banking Committee, set a standard for set for a standard Banking Committee, and his bipartisan ability leadership to with colleagues and compromise persuade to enormously in both contributed houses during his legislation chair progressive manship. Winner: of Director the Housing and Executive The DC. Washington, Council in Assistance has, Council (HAC) Assistance Housing hous beenimprove helping 1971, since with an the for rural ing poor, conditions The Honorable James A. Leach Award ruralto the outstanding most Presented Congressman organization. nonprofit as Chairman Leach (R-IA) of the House - Pictured Pictured left to right: Lee Beaulac, NCRC Board Chair; Jonathan Epstein, Buffalo News; NCRC President Julianne and Malveaux, CEO; Host; Dr. and Alan John Jennings, Taylor, NCRC Board member - - - -

, of The , Buffalo , The Attorney Attorney The , Jonathan Epstein Jonathan

Terry Goddard Terry NCRC Awards at Annual Conference Annual at Awards NCRC began his as career a Banking Community and Banking deputy Community reporter a American Banker, The section for editor daily financial services paper. part series, “The High Cost of Being Poor”. “The High ofCost Being partPoor”. series, in to 2004, January the joining Prior News six and spent a halfEpstein covering years for and insurance cards credit banking, Delaware. Wilmington, in Journal The News He small lending. business also He covered Community Reinvestment act. Reinvestment Community Winner: is a Epstein financial D. — Jonathan News covering at The News, Buffalo reporter and financial insurance services banking, on and who ofone worked reporters two four- award-winning nationally the paper’s fairness fairness and inopportunity US financial is the named for 1989 This award systems. winning articles reported by Pulitzer-Prize who blew the lid Bill Dedman, off discrimi and in patterns natory lending Georgia, the to teeth helped put into whose work The Color of Money Award the for best documentary, Presented book informa or public reporting, news to public tion campaign contributes that of understanding the need greater for tity theft crimes and against Internet drug suing manufacturers children; abuse for loan providers and payday and tackling predatory of consumers; takingby lending action com against panies and mislead that advan take tage of homeowners. and values of community reinvestment. community of values and Winner: General of of— Arizona the State his serviceArizona exemplary For to protection, in consumer residents fighting cyberespecially iden crime, from this year’s conference: this from year’s The National Community Reinvestment Award through who individual the to Given ideals the exemplified has career their Every year at our annual conference, at our annual conference, year Every to individuals awards presents NCRC who leaders are and organizations in the justice. struggle economic for and awardees the are awards Below

ReinvestmentW o r k s Fund & Strong Anti-Predatory Lending Law Lending Anti-PredatoryStrong & Fund Rescue National Servicing, Responsible Re-financing, FHA For Call Repeats Firms Law By Operated “ForeclosureMills” Unscrupulous of Shutdown a For Calls NCRC WallStreetinvestment lenders.and firms homes.their representlaw Thefirms mortgageservicers, outfinancially-troubledkick to subprime borrowers from the “foreclosuremills” operatedbeing bylaw firms, racing legislationlawmakerspassimmediately to shutto down NationalThe CommunityReinvestment urgedCoalition atelendersservicers.troubledand with loans Recently, subprime directlyborrowerswith helpingremedi them LendingConsumer workingRescue Fundbeen thathas cateshousing,forfair NCRC operates an Anti-Predatory foreclosureequity.thatstrip actions properlyexpensiveandneedless facingprior assessedto nationwideings ensureto thathomeowners situations are providesforday60-to-90stays foreclosure in proceed Committee,NCRCa recommendedofficial legislationthat a monumentala law, CRA,provided haswhich the NCRCdeclared, years ago, “Thirty Congress passed Modernization Act,John Taylor, President of CEO and CRAperformance ordered by bank regulatory agencies. applicationsand/or result in specific improvements in tiesbecause low CRA ratings can delay bank merger theirservices to low- and moderate-income communi providesincentives for banks to increase the level of servicesthey offer to working class communities. CRA banksbased on how many loans, investments, and moderate-incomecommunities. Federal agencies rate andrequires them to meet the credit needs low-of and NCRC’sduring conference.annual NCRC membersadvocatedof bill the for passageof investments.wasintroduced,bill the After hundreds wouldandnities loansreceivedollars in of trillions bill,this commuenacts working minority class and Modernization1289).Congress(HR 2007 If Act of introducedCommunityReinvestmentthe Act (CRA) cosponsorleadand Rep. LuisIllinoisGutierrez of earlyMarch,In Rep. JohnsonTexasBernice Eddie of inNew Loans and Investments 2007:Communities Stand to Receive Trillion of Dollars NCRCRallies Behind the CRA Modernization Act of Testifyingbefore House the Financial Services One of the nation’sthe of One mostrespectedbiggestand advo Upon CRA introductionthe the of Passedin 1977, CRA currently applies to banks - - - - - borrowers’loans. abusessubprimefoundoften27 in of committeelistthe a lendingabuses,tiple justnottwo.oneor Hepresented to statesacrossworkouts forall loan thatcontainoften mul staywould establishreasonable uniformand periods time ficationforeclosedarebeing uponruthlessly.” modi loan or loan agreementsbearancenew a deserveor homes.their in forfamilies for qualify whoAmericans Congresskeeptostaymoregive usto musta time pass bers.reasonsthe system legaloneof theis in greed “The VicePresident DavidBerenbaum toldcommittee mem borrowersrushing homelessness,”to NCRC Executive thatoperatelawforeclosure firms as profitand mills from againstinvolvedlaw firms foreclosures.the in though,workoutsloan its haveinto sprintsfast turned loanstotaling more than $449 billion in low- and mod NCRChas documented that banks made small business smallbusiness loan data became publicly available, toNCRC’s low-and moderate-income communities according morethan $4 trillion in loans and investments for passed.Since its passage in 1977, CRA has leveraged manytimes over the if CRA Modernization Actwas communities. minority and wealthbuildingandworkingopportunities class in Modernization Actwould increaselending, investing, insurancecompanies,firms, securities and CRA the tiny.mortgagecompanies,to applying ByCRA also federalregulatorysubjecttoscru loans numberof branches,through bank ing thereby bolsteringthe lendingthroughbrokers bank to additionlendto in Modernization landmarkCRA passingthe Act.” thecommunitiesDream revitalizeAmericanand by expanddramaticallyCongressopportunityto the has workingownershipnessfamilies. of millions to Now, home-ownershipDream busiof American small and Berenbaum also said a congressionally-mandatedBerenbauma said also “Weaggressivethese keepwith toup arestruggling CRA’stremendous benefits would bemultiplied Modernization CRA The Actwould apply CRA CRACommitments publication. Since CRA ------Congressconsiders legislation. banking and/ormajorprovisionsbill moteas the bill the of behalf.itsonopportunities pro seek to NCRC will Modernization CRA the advocateActand vigorously organizationsmobilizememberbehind munity will mentseverallastproposalsdecades. the of mostsignificanteconomic communityand develop Modernization representsCRA 2007 Acttheof oneof additionaldollars lionsforof communities. these The wouldthroughout leverageindustry financial tril the communities,moreapplying thenbroadlyCRA investmentsworkingto minority classand industry,financial and loans in have trillion $4 made accordingto Federal Reserve Board research. loansthan non-CRA covered mortgage companies offermore affordable and market-rate home purchase moderate-incomeborrowers, CRA encouraged banks to millionshomeof purchase loans available to low- and developmentloans since 1996. In addition to making Likewise,banks have made $287 billion in community erate-incomeneighborhoods from 1996 through 2005.

home would be a mistake.”homea would be stopping readypriority; a familiesthe toown to loans be toldcommittee members. “Stoppingforeclosures should tion,lendersthehave as done, isn’t solution,”a Berenbaum marketcorreca Blamingborrowers crisis this calling and It’sabusiveaboutlenders with productspractices. and forstandard36% loans. prime loans,CRF theon compared was50% back-endratio to standardratiosthan end)loans. For example, median the payment-to-income(front debt-to-incomeand end) (back NCRC’s in portfolioshows considerably mortgagehigher stripping.equity loanstrationand CRF 69 sample of A insurance(more expensive insurance), arbimandatory interestnegotiating high rates), packing,fee forced placed spreadpremiums bylenders(feespaidbrokers to for In the comingthemonths, In comNCRC600 its and banks, If representing the of justonepart Some of the abusesincludethe appraisals, faulty of Some yield “This shows problem“This the isn’t aboutborrowers. n continued on p. 15 ------ ReinvestmentW o r k s - - - - continued on p. 10 p. on continued NCRC testified that the guidance on subprime testified the that guidance on subprime NCRC the guidance to does close pro not come Yet, According to NCRC’s testimony, “We stand on “We testimony, to NCRC’s According should eliminate many of many eliminate the in should abuses the unsafe lending. ARM subprime and deceptive to applies only It coverage. viding comprehensive which is halfabout conducted lending, the subprime represent between 60 of or and 70 subprime percent represent ofARM Many these highyears. loans incost recent low offering marketed, been deceptively loans have and of during the rates years, first couple “teaser” higher in to then much rates subsequent adjusting of the adjust unaware are borrowers Often, years. assessed borrower only have and lenders ments teaser rates. these loans capacity at the to low, repay The crisis. is an foreclosure The impending result reported recently Association Bankers Mortgage to the FDIC, according And, rates. foreclosure record than 14% more of the $1.28 trillion in outstanding the by end ofdelinquent 2006. loans were subprime will rates adjust The also interest FDIC that reports loans on inmillion one subprime 2007 and another 800,000 next year. the by federal regulatory ARM proposed lending is to step agencies a necessary not sufficient but lend The guidance requires the stem crisis. looming capacity to repay to assess borrower ing institutions In rate. “teaser” not the at the fully rate, indexed in to engage lenders the guidance requires addition, ratio, debt-to-income of analysis borrower a robust and taxes insurance. for payments incorporating The sound underwriting guidance in the proposed In late March, Josh Silver, NCRC Vice President President Vice NCRC Silver, Josh March, In late the testified regarding and Policy, of Research the looming crisis in before the market mortgage ofServices Financial the Subcommittee House and Consumer Institutions on Financial Committee Maloney Chairman Carolyn Subcommittee Credit. (D-NY) Gillmor and Ranking Paul Minority Member reg called the the recent (R-OH) hearing to consider and lending whether ulatory guidance on subprime also needs Congress to pass legislation. of a inthe tsunami mortgage precipice the United loans mortgage (ARMs) rate Adjustable States.” NCRC Testifies Testifies NCRC House Before Services Financial on Committee Impending the Crisis Foreclosure - - - - - n , Director of Housing and of Director Housing , Alan Fishbein

several other non-profit advisory boards. A member advisory boards. non-profit other several he honored was once of the District Bar, of Columbia Fishbein Mr. ofYear.” Lawyer the “Consumer as their Antioch School ofearned the his degree from law D.C. Washington, in Law the spirit of Sen. Proxmire’s contributions through through contributions the ofProxmire’s spirit Sen. action and effective on behalfdedication of economic justice. Winner: ofAmerica Federation at the Policy Consumer Credit lead includes career and long notable Alan’s — on work Change’s Community ing for the Center (CRA) and Home the Reinvestment Community and issues other (HMDA) Acts Disclosure Mortgage and lending banking ser pertaining to responsible and and minority consumers vices low-income for Department he also served at the communities; U.S. as advi senior Development and ofUrban Housing oversight enterprises sponsored government sor for public mission he supervisedwhere the department’s Mac. of and Mae Freddie regulation Fannie mission before expert testimony provides Allen frequently panels and is national by interviewed Congressional media news on a varietyand reg credit of consumer also He has written numerous ulatory policy matters. and dis reports publications articles and authored is He a past co-chair cussing these and subjects. other ofNeighborhood director and the current National a past member of Coalition, the Reserve Federal Council Advisory and serves on Consumer Board’s give to the individual who life’s work best exemplifies best exemplifies work to give the who individual life’s - - - of the continued from p. 3 p. from continued Ray Daffner Ray and and Greg Bischak Bischak Greg Appalachian Regional Council; Dr. Julianne Malveaux, Host; and Elbert Jones, NCRC Board member Board NCRC Jones, Elbert and Host; Malveaux, Julianne Dr. Council; Regional Appalachian Pictured left to right: Lee Beaulac, NCRC Board Chair; John Taylor, NCRC President and CEO; Greg Bischak, Bischak, Greg CEO; and President NCRC Taylor, John Chair; Board NCRC Beaulac, Lee right: to left Pictured trillion in community reinvestment loans has been trillion in reinvestment community is This award America. across made in communities Banking, Housing and Urban Affairs from 1975 from Affairs to and Urban Housing Banking, Proxmire, 1981 Senator and 1987 again from to 1989. in was instrumental the ofpassage the Community the ofpiece landmark in Act 1977, Reinvetstment this whose 30th celebrate we legislation anniversary because of It than his $4.7 vision more that year. reduce Appalachia’s isolation. Appalachia’s reduce The Senator William H. Proxmire Award Proxmire, William Senator the for late Named who served as the Chairman of on the Committee Commission has increase job opportunities and has job per increase opportunities Commission parityto reach with Appalachia inthe income capita the capacity strengthened ofnation; the ofpeople in devel the to globalcompete economy; Appalachia infrastructure to Appalachia’s oped and improved and built competitive; the make economically Region to System Highway Development Appalachian the at the urging of two U.S. presidents, Congress cre Congress presidents, at the urging of U.S. two poverty and the persistent to address legislation ated Region ofdespair Appalachian the economic growing in lived pov ofone where Appalachians every three lower and was 23 per income percent capita erty, Regional Appalachian The average. than the U.S. his fight for his the fight for rights of Americans allto greater fairness becamein legendary. our financial systems Winners: Council — Regional In the mid Appalachian 1960s, Conference NCRC Awards at Annual Annual at Awards NCRC Community Reinvestment. Activism. Fair Housing/Fair Lending. Coalition Building. Small Business Development. Legislative/Regulatory Affairs. Advocacy. Policy. Community Reinvestment. Activism. Fair Housing/Fair Lending. Coalition Building. Small Business Development. Legislative/Regulatory Affairs. Advocacy. Policy. W o r k s NCRC Annual Conference Draws Hundreds Reinvestment of Advocates Nationwide continued from p. 1

Workshops The conference offered basic and advanced workshops and trainings on topics such as bank mergers, CRA, coalition- building, predatory lending, fair lending, minority business development, fundraising, asset building and more. NCRC staff, Board members and invited experts from a diverse group of companies and nonprofits including Fannie Mae, HSBC Bank, Bank of America, the Economic Policy Institute and the Kaufman Foundation were featured on these panels and workshops and brought current and cutting-edge knowledge to the discussions. New this year was an interactive discussion featuring leaders from the non-profit world, banking, foundations, aca- demia and the media. The session, titled “A New Imperative for an Equitable Economy” connected the struggles of the middle class to those of the poor by focusing on how national and international policies are pushing more of the middle class into the ranks of the poor and the poor further into deprivation. This exciting and high-powered panel explored strategies aimed at building wealth and promoting economic opportunity for poor communities. “The two hour discussion could have easily gone on much longer,” said John Taylor, NCRC President and CEO. “There is clearly a need for open dialogue and a broader discussion of these issues.” The interactive format was popular and well attended and NCRC is planning on building such sessions into future conferences. The closing plenary, “The Nexus Between Environmental and Economic Justice” was a coming together of two move- ments around common issues and challenges. The panelists discussed what is meant by environmental justice and how it differs from traditional environmental activism. How do we build neighborhoods that are safe from environmental and economic inhibitors? The panel looked at areas of collabora- tion, potential impacts and identified opportunities for working together in the future. ReinvestmentW o r k s Policy. Advocacy. Legislative/Regulatory Affairs. Small Business Development.

Coalition Building. - - with

Fair Housing/Fair Lending. Activism.

Cummings, OTS Director John Reich and AFL-CIO Vice Vice AFL-CIO and Reich John Director OTS Cummings, the out speak rounded Linda Chavez-Thompson President ers list. organizations and coalitions, as of well as issues larger and coalitions, organizations and their effects on the nation, foreclosures loans, subprime responded house The packed rural including communities. Elijah Rep. Barney Frank, Rep. with a ovation. standing Senator Clinton, a contender in the 2008 presidential race, race, in the 2008 a presidential contender Clinton, Senator highlighted that speech the a continuing compelling gave of advocacy role the community important need CRA, for a call to action and energized the crowd for the days ahead. a call ahead. to the action for days and energized the crowd attend the conference Hillaryaddressed Senator Clinton 15. March on Thursday Luncheon ees at the Congressional Rainbow/PUSH Coalition leader Reverend Jesse Jesse Reverend leader Coalition Rainbow/PUSH comments His speaker. the kickoff was Sr. Jackson at the opening reception started the conference off Special Guests attracts special guests every year. conference NCRC’s us this With year: Policy. Community Reinvestment. Advocacy. Legislative/Regulatory Affairs. Small Business Development.

Coalition Building. Fair Housing/Fair Lending. Activism. Community Reinvestment.

ReinvestmentW o r k s www.ncrc.org and in your e-mail box for updatesWashingtonDC. in and Look news. NextMarch, conferenceannualhostitsagain NCRC will in Ahead Looking and CNBC. was widely quoted and was also interviewed on Bloomberg TV nationwide and internationally, President and CEOage John of NCRC Taylor appeared in hundreds of papers and publicationsstory, and the media coverage came fast and heavy.in Washington News cover to discuss those very same issues. Thisnation’s was a real eyes and while our members and others werebeen gathered warning about for years was happening right before themarkets had the makings of a “perfect storm.” Whatworkshops NCRC had and discussions, and the rumblings in the realof estate this year’s conference “Broken Economies,”ting off warnings the from focus ofWall our Street to Main Street. Thethe theme subprime mortgage market began to weaken and slide, setThis year’s conference occurred during the very sameAttention weekMedia that issue).this of appears3 pageon busydays.have threevery andafterawards fun full list(The humoreasyyearher and this allowedagain everyone relaxto conference.the of night Dr. Julianne Malveaux hostwasthe brightestand beststars theat Awards final theon dinner EveryyearNCRC honors economicthe justicemovement’s AwardsDinner Community Reinvestment. Reinvestment. Community NCRCAnnual Conference Draws Hundreds of Advocates Nationwide continued from p. 7 Reinvestment Works Activism. Activism. Fair Housing/Fair Lending. Lending. Housing/Fair Fair ,our Website n - - Coalition Building. Coalition

Small Business Development. Development. Business Small Legislative/Regulatory Affairs. Affairs. Legislative/Regulatory ReinvestmentW o r k s

Nebraska hagel.senate.gov/index.cfm?FuseAction =Contact.Home Kentucky bunning.senate.gov/index.cfm ?FuseAction=Contact.Email Idaho www.crapo.senate.gov/contact/email.cfm Hampshire New www.sununu.senate.gov/webform.html Carolina North www.dole.senate.gov/index.cfm?FuseAction= ContactInformation.ContactForm Florida www.martinez.senate.gov/public/index.cfm? FuseAction=ContactInformation.ContactFor m&CFID=7264043&CFTOKEN=89020048 Senate e-mail Senate roster: Indiana http://bayh.senate.gov/LegForm.html South Dakota www.johnson.senate.gov/emailform.cfm Rhode Island www.reed.senate.gov/contact/ contact-share.cfm Delaware www.carper.senate.gov/aemail.cfm Jersey New www.menendez.senate.gov/contact/ contact.cfm Hawaii www.akaka.senate.gov/public/index.cfm Ohio www.brown.senate.gov/contact.cfm Montana www.tester.senate.gov/Contact/ Alabama [email protected] Utah www.bennett.senate.gov/contact/email_ opinion.cfm Colorado www.allard.senate.gov/public/index.cfm ?FuseAction=Contact.Home Wyoming www.enzi.senate.gov/public/index.cfm?FuseA ction=ContactInformation.EmailSenatorEnzi - - - - -

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h i o o r Protection Act of 2007” and the proposed funding to assist assist to funding proposed the and of 2007” Act Protection homes their losing from families preventing in non-profits prac lending Predatory loans. predatory of these result a as of millions lives the jeopardized have nation our in tices a toward step important an are efforts Your Americans. of eradi should that standard national comprehensive more industry Promoting practices. lending unsavory these cate We enough. not are principles” “good or practices” “best are that loans get consumers that ensure that laws need We pay. to ability their reflect and them for appropriate rec to Senate the in others inspires leadership your hope America across spread has that crisis mortgage the ognize expand and support to immediately act will they that and practices. lending predatory end to initiative your upon Lake, Sylvia to letter of your a copy send Please predatory lending once and for all. and all. once for lending predatory ofAct 2007,” Protection “Borrower the efforts on S 1299, furtherto help and urge you the bill in the Senate will you hope sign on in support We Banking Committee. of this American every effort and the offer protection The time for practices. lending they need predatory from American families are million now Two action is now. the coun who provide and non-profits facing foreclosure, to of the influx loans cannot respond seling and workouts they that instuck cannot afford. products of consumers is this help needed bill. supporting by Your Thank you. and Casey: Brown Schumer, Dear Senators “Borrower’s the proposing in leadership your for you Thank F O need additional talking points for your efforts as well. as well. efforts your for points talking additional need Thank you. Taylor John and CEO President Coalition Reinvestment Community National NCRC appreciates the help of its friends in allies in this impor this in allies in friends of its help the appreciates NCRC real make can and voice powerful a have we Together effort. tant send to time the take Please future. America’s for change lasting E-mail difference. real a make can minutes few A letters. these below. listed is Senator each for information contact Affairs Regulatory and of Legislative Vice-President NCRC’s us if you contact to free feel also Please ([email protected]). 3) and Casey did Brown draftingby this Schumer, Senators What a willingness to take future, America’s for concern bill shows your Please express solutions. real and propose on tough issues their for takingefforts by send a them minute a appreciation using below. the letter sample thank-you quick :

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Senate Banking Committee, because the crisis in Banking lending Senate Committee, and at home inis inreal ____ and borrowers (our state) need a to stop We this year. district your risk foreclosure — “Borrower’s Protection Act of 2007.” Only a strong Only a strong ofAct 2007.” Protection “Borrower’s — does that any not erode standard anti-predatory national a willlaw lending prevent anti-predatory state current Please ofpractices. occurrence future these predatory as position member in of your the sign on to the Bill now, Dear Senator ______: Dear Senator to I sign of you urge on as the a S cosponsor 1299 support Senators Schumer, Brown and Casey’s proposal, the the proposal, Casey’s and Brown Schumer, Senators support take will you hope and 2007” of Act protection “Borrower every offer and effort this on expand to steps aggressive lending predatory from need they protection the American facing are now families American million Two practices. voluntary and niceties hearings, for time The foreclosure. now. is action for time the — over is agreements Only a strong national anti-predatory standard that does does that standard anti-predatory national strong a Only prevent will laws lending anti-predatory state preempt not now, Act practices. predatory these of occurrence future a Committee Banking Senate the of head as position your in to States, United the of President for candidate a as and and applaud We all. for and once lending predatory stop Dear Senator Dodd, Dear Senator We People. Principled upon depends Principles of Set A unprincipled, because crisis foreclosure mortgage a have in documents practice best voluntary ignore people greedy consumer. American the of expense the at profits of favor Broader support by others on the Banking Committee is needed. needed. is Committee Banking the on others by support Broader urge and Senator US your contact below, letter sample the Using Schumer, Senators’ cosponsor preferably, and support to 2007.” of them Act Protection “Borrower’s S1299, Casey’s and Brown North Carolina, Florida, Colorado, Wyoming, Nebraska, New New Nebraska, Wyoming, Colorado, Florida, Carolina, North Kentucky and Utah Alabama, Delaware, Indiana, Hampshire, Connecticut, Hawaii, Rhode Island, Montana, New Jersey, Idaho, Idaho, Jersey, New Montana, Island, Rhode Hawaii, Connecticut, 2) unchecked in the marketplace today. Using the sample letter the letter sample Using today. in the unchecked marketplace the bill Dodd in urge Senator to introduce committee. below, has called more recently for a “set of principals” to guide the of “set principals” a for has calledrecently more the luxury do not have of industry for waiting We industry. while ofAmerican thousands families’ “principals” to enact equity practices lending go that is stripped the by abusive Contact Senator Dodd and Senator urge the Contact him to introduce bill in committee. and legislation lending anti-predatory seeking about national following: 1) T We ask We your help in doing the

continued from p. 1 p. from continued A Call to Action from NCRC President and CEO John Taylor John CEO and President NCRC from Action to Call A 10

ReinvestmentW o r k s CRA Weakening Rule Weakening CRA Revokes and Itself Reverses Supervision Thrift of Office regulatedFDIC,Comptrollerbythethe Officeof of the forthose banks as samenow the is exam CRA mid-size investmentthe test). ments of service thrift and This communitydevelopment testincorporate(which ele lendingand thatconsistsa exambillionhave CRA of a $1 tomillion $250 betweenassets with Mid-sizethrifts million.$250 underassets with thrifts testto thrift wantedinvestmentan test. service and lendingtest,a had butthrifts couldthey choosewhether thatconsistedlendingexamtest. the onlyof large The streamlineda over had billion. $1 thrifts small The assets with those as largethrifts billionand $1 under assets with those as thrifts small definedagency The implementedwateredthrifts. for examsall CRA down coupleyearsa ago.changesrevokedof of rule CRA its publicannouncement OTSindicatingthatthehad Conference,OTSDirector John Reichfirstthe made agencies. otherfederalbanking NCRC’s During Annual threethe muchexams weaker of thoseCRA itsthan regulation madewhichCRA changes enacted the to CommunityReinvestmentthe Act(CRA).OTSThe regulationschangesthe damaging to implementing Supervision(OTS)ago,issued Thrift of Officethe year.this nificantregulatoryvictory coupleyears A of NCRC’s ConferenceAnnual sigfora setting wasthe the CRA Modernization CRA stimulatethe additionalActwill Modernizationrelated (see since2007 article) Act of market. ary Second, Congress CRA the mustenact frombrokers, lenders, appraisers, secondthe and lendingindustry,thecover actors in the all ranging strongestthe protections state laws.in mustbill A sivenationalanti-predatory bill, buildingupon tsunami.First, Congresscomprehen musta pass approachingdationsfast forthe halting mortgage enablingoractorsdangerous perpetuating lending. ritizers,whomcontain servicers,of abusiveand all includingbrokers, appraisers, closingagents, secu cannotdirectlycoveralso non-bankinstitutionsthe bybanks, affiliates.thrifts,their and guidanceThe continued from p. 5 NCRCTestifies before House theImpending Foreclosure Crisis FinancialServices Committee on In its rule reversal, rule itsIn OTSthenow applies small the OTSTheunder, Reich’s predecessor, James Gilleran, NCRCoffered recommenthreemajor policy ------mittee%20Testimony%203.27.pdf. availablewww.ncrc.org/policy/NCRC%20Subcom via lendingmarkets. NCRC’scopy A of testimony is nation’sthe pervasivediscrimination abusesin and Consumerour in RescueFund documentto the NCRC’sresearch, mysteryshopping, experienceand imminentforeclosure own. their fault throughnoof predatory lendersof arewhofacing rescue victims to used be can loans thatFHA programso FHA the the and Administrationmustwork togetherretoolto costloans. high Thirdly,influxof an encing Congress increasetoproduct choicecommunities in experi mortgagecompanyand bank lending,prime serving (25% of therating).(25% of Thelarge examCRAnow thriftis the investmenttest therating),(25% of andthetest service billionhave lendinga test theoverall(50% of rating), an Currency,the FederalReservethe Board.and munitydevelopment financing distressedruralin areas definitionscommunity of development toinclude com tothefederal bankregulators’ regarding theexpanded viouslyalignedtheir Questions and Answerstoconform andabusive lending, just banks.as TheOTS hadalso pre experiencedowngrades theirinratings CRA for illegal sametheaslarge exam.bankCRA Moreover, canthrifts NCRC’stestimony presented arrayof wide a CRAregulation review commenced Inaddition, thelarge assetswiththrifts above $1 againstCRA weakening since the Congratulationsare due to all ofthose who have fought inthe summer of 2001. n

- - - during the Gilleran era.Gilleran theduring OTSNCRC’sThe discusses issued rulings the wake theof inflation in grade and decreasedcommunitylevels development of financing andareas recovering from natural disasters. DirectorReich’s comments NCRC’sat conference. rules,OTS pressCRA final the therelease, copy of and thatweretion enacted. reverseto weakenedthe regulaprovisions CRA the of regulation werevia defeated.CRA Moreover, seek wewill institutions.However, worstthe proposals weakento rangeforasset levelssmall asset thedetermine to of ing indexand fordatabusiness banks mid-size loan small battles, reportingmandatoryof including deletion of the 2001. reviewcommencedsummerof the in Welostsome foughtregulationweakening againstCRA CRA sincethe mayhave figured itdidnot have thepublic support. theyasdid, theagency may have ruleddifferently since it NCRCmembers andallies had not commented muchas agency’srulesCRAwiththose the bank agencies.Yet, of if thestreet was that Director Reich was going thetoalign Overall,thelevel comments of was light because word on “revisionsreinforce principal objectives theCRA.” of “commentslargely supported theproposal” andthat the mentsissuingin itsproposal. Theagency notes that the otheragencies. TheOTS relied onthe supportive com proposalitstoregulationsalignCRA thosewiththe of theproposed changes, were61 supportive theOTS’ of theagency. thecomments66 Of received by theOTS on andindividuals alliedleftusimpressionwithan with wasinfluential. researchpointby point, suggestingthatNCRC’s research The OTSTherefers NCRC’sto research documenting See www.ots.treas.gov/docs/7/777016.html See fora havewhoCongratulationsthose of are dueall to Importantly,thecomments NCRC of members

- - -

11 ReinvestmentW o r k s - - - n

Another asset in Appalachia is the Appalachia asset Another in credit to remaining close In order of the small business owner. Moreover, Moreover, of the small owner. business of banks role the community important counties. counties. Financial 100 Development Community sponsored ARC and (CDFIs) Institutions making loan loans funds, in revolving hard Appalachia in CDFIs to serve markets. of on more small an place busi emphasis ness than lending their coun national loan revolving ARC In addition, terparts. been funds offinancing higher have levels the per years. loan job creation over dollar building branch recommends NCRC gaps, and State Appalachia. in and expansion should Appalachia in local governments which program State’s York New consider rate tax and market below breaks offers banks for opening in deposits exchange disadvantaged in economically branches needs to Congress In addition, areas. a requires that law federal CRA, strengthen banks to needs meet ofcredit communi CRA enhance should small Congress ties. loan so business data reporting allthat the banks report data and must require the the that race and data include gender Taylor said, “Our report shows the beginnings shows report of “Our a said, Taylor Appalachia, and in Capital to Credit Access Entitled

See pages 23, 26, 28, 30, 33, 44, 94, and 97 of94, regional the for 44, report 33, 30, 28, 26, See pages 23, and 181 of179, the 178, Also see pages 176, breakdowns. and state breakdowns. additional for Appendices the report is available via www.ncrc.org. via the is report www.ncrc.org. available 1 should be supported by expanding financing such as financing expanding such by be should supported advances Loan Bank the Home ofFederal Pittsburgh’s report The NCRC bank for small lending. business such a ofnumber includes recommendations additional as bank and increased the revolving financing for CDFIs loan funds Appalachia. in support Government story Appalachia. inrevitalization of bank go a and financing could encouragement long and job growth rebuilding in the economic towards way region.” - - - Overall, banks made a of higher Overall, amount small Appalachia and Nation and Appalachia ness ness did not and varyruralin greatly metropolitan counties. and and non-distressed distressed counties is a presence branch This increasing that suggests small increasing for way and quick efficient relatively in creditworthi differences large since lending business in rural and to distressed be ness do overcome not have county, the median number of loans is 1,287 in a county. the median ofnumber loans is 1,287 in a county. county, when the of number is 11, below branches In contrast, the median ofnumber loans in Mid- a is county 235. based community banks with localsize, and branches with assets under to $1 lend also billion likely most are of Most the in counties. ruraland distressed counties com mid-size, are Appalachia in banks headquartered munity based banks. had the businesses loans where in business counties small creditworthi business Surprisingly, best credit. - Similarities in Lending Trends: Trends: Lending in Similarities - - 1 - - - An overlooked asset for addressing credit gaps gaps credit addressing asset for An overlooked Yet, significant credit gaps remained. Small busi remained. gaps credit significant Yet, John Taylor, NCRC President and President NCRC Taylor, John Drawing on a study commissioned on a Drawing commissioned study branch presence has a impact significant on presence lending branch the ofWhen number is 11 branches or higher in a levels. businesses in low- and moderate-income tracts). The tracts). in and low- businesses moderate-income under $1 million are with smallest businesses revenues loans — 28% just ofto receive least likely these busi loans in 2003. nesses received local based mid-size community banks are have that bankthat revealed report NCRC’s presence. branch nesses in rural counties are less likely to receive loans to nesses in receive less likely ruralare counties busi Likewise, areas. in than metropolitan businesses tracts census are nesses in and low- moderate-income loans (41% of to receive allless likely small businesses loans to as 35% opposed of received small Appalachia in ties and deficits. But we are cautiously cautiously are we But ties and deficits. ability to the optimistic about region’s Appalachia because face tough challenges has a asset significant — a banking the sector by has that been motivated to reinvest Act Reinvestment Community in the region.” small business lending in predominately smallin lending business predominately sig the same time, At minority counties. remain. gaps credit nificant think people about “When said: CEO, they usually talk liabili about poor areas, by the Appalachian Regional Commission Commission Regional Appalachian the by banks said the region’s NCRC (ARC), strides in made important making have For to small businesses. loans available trends, contrary to national example, of higher bankslevels have Appalachia and business development — a “cau — a development and business to combat amount optimistic” tiously finds a poverty and unemployment, the by National today released study Coalition Reinvestment Community (NCRC). Appalachia possesses over $500 billion over possesses Appalachia in assets in 227 banks $5.4 finance that community for everybillion years two Appalachia Appalachia States Assets To Fuel Economic Assets Growth, But To Rural Businesses Still Face Credit Gap Compared to Urban Counterparts National Community Reinvestment Coalition Conducts Study For Appalachian Regional Commission — Provides Data For Thirteen Study Study Finds Appalachian Banks Have $500 Billion in 12

ReinvestmentW o r k s 202-628-8866 Call for conference information, special needs and rates: Fax 202-628-9800 727 15th Street NW, Suite 900, Washington,National Community DC 20005 Reinvestment Coalition Mail or fax this form with payment to: I Jean Association of North Carolina Reinvestment I Causa, Pete Garcia, Chicanos Por La Center Gail Burks, Nevada Fair Housing Lee Beaulac, NCRC Chairperson Expert (NC) Stella Adams, Fair Lending Senator Barack Obama Senator Charles Grassley Senator Tom Harkin Congressman Phil Hare Governor Chet Culver Senator Dick Durbin Congressman Bruce Braley For this year’s regional conference, we have invited: influential social and economic policy makers. NCRC’s conference features some of the most August 21-22, 2007 • Radisson Quad City Plaza, Davenport, Iowa Government Agency (state, multi-state or federal) o o o o o o o o o M the Regional Conference Join now and pay only $25 to attend FOR NEW MEMBERS ONLY! SPECIAL REGISTRATION RATE ndiana Reinvestment Alliance rvin Henderson, Community 2007 Regional Conference Public Sector/ Government Agency Sustaining Partners University/College Department TA Provider - For Profit Student Local Government Agency Non-Profit Non-Profit Non-Profit embers I shmon, Northwest I nc. (please provide copy of student ID) (budget over $1,000,000) (budget over $500,000) (budget less than $500,000) h ip T

ype

(special criteria apply) (special criteria apply) Chicago, Ted Opportunities, Hubert Van Tol, Rural Josh Silver, NCRC Development Services Shelley Sheehy, River Cities Fair Lending Attorney Diane E. Thompson, Esq., & CEO John Taylor, NCRC President Milwaukee Fair Housing Council Bethany Sanchez, Metro – University of Dayton Leadership in Community Dean Lovelace, Fitz Center for Fair Finance Matthew Lee, W

ysocki, LEED Council

I L

W atch I nner City Press/ I nc.

$1,000 $6,000

$150 $600 $500 $250 $250 $500

$35 This tour through and Davenport 4:00 – 6:00 Development Tour Community n n n 1:30 –3:30 tools and strategies on topical issues. In-depth sessions offering powerful Pre-Conference Trainings August 21 Tuesday, Promoting Opportunities for Building Wealth Economic Fairness and Mobility: o Restrictions: Dietary You will receive confirmation via email and conference materials on CD. Email ______Phone ______Fax ______State/Country code ______Zip ______City Address ______Organization ______Title ______Name ______designed, LEED certified buildings. projects, including those with green developmentable community IslandRock willhighlight sustain received. No refunds onrequests received after August 15.All refunds willbe remitted after theconference. For fastprocessing, faxregistration withcredit card payment authorization. Registrations willnotbeprocessed until payment is

Making the Deal Making theDeal Work: Agricultural Business Practical Applications ofCRA: New Markets Tax Credits Energy Opportunities Development: Alternative HealthyBuilding Communities None Registration alsoavailable onlineat www.ncrc.org o Vegetarian

NCRC RegionalConference Registration Call by 21to theRadisson July bookyour hotel at Conference theNCRCSpecial Rate of$99. 563-322-2200 or 1-800-333-3333. Or register563-322-2200 or1-800-333-3333.Or onlineat www.radisson.com/davenportia.

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o i - sson Diabetic Diabetic Breakfast Plenary August 22 Wednesday, River.of theMississippi Stadium onthebanks O’Donnell Citiesof theQuad at theJohn League baseballwiththeSwing an evening ofClass AMidwest Afterwards relax by taking in President &CEOJohn Taylor. with openingremarks by NCRC to theregional conference, others forawelcoming reception bers, leadersand community Join local congressional mem 6:00 –7:30 and Baseball Game Welcoming Reception Presentation VIP Speakers andAwards 8:00 –9:15 Q uad o Ci other:______ty P laza August 21-22, 2007 , 111 E , 111

- ast Recognition VIP Speakers and Member 12:30-1:30 n n n n 11:00 –12:15 n n n 9:30 –10:45 Conference Workshops Lunch Plenary

Small City (Re)Development:Small City The Foreclosure Tsunami: CoalitionsBuilding With Clout: Capitalization Strategies for ModernizationCRA toRemedies Predatory Community Engagement in Communities Clean,Building Vibrant Keeping Homeowners Afloat that Work Models forChange, Tools Rural Enterprise Development Lending the Development Process

Signature ______Cardholder Name (print) ______Card Number: ______Exp.Date: ____ CREDIT CARD o (CallSponsorship 202-464-2709for details) TOTAL DUE Registration Fee $______x___participants CONFERENCE REGISTRATION o second Check enclosed Premier Sponsor After August 15oronsite Until August 15

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Visa Visa this session. You won’t want to miss it! communities are some of the highlights of outcomes and ideas to carry out to other breakouts, and an opportunity to record carry forward. Closing remarks, small group conference and brainstorm “next steps” to participants the opportunity to reflect on the This powerful session will allow conference 3:45 – 4:45 Closing Session similar legislation. vide inputontheshapingofthat billand for audience andpanelmembersto pro thissessionpresentsBill; anopportunity credit. focusisthe2007Farm particular Of to influence ruralopportunities capital and and congressional leadersto talkabout advocates,community national experts Taylor, thissessionwillbring together rural Hosted by NCRCPresident &CEOJohn 1:45 –3:30 Interactive Session Rural Opportunities o Sponsor o , Io MasterCard w a $75. $50.

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- 13 ReinvestmentW o r k s ------

continued on p. 15 p. on continued On the Senate side, Sen. John Kerry (D-MA) has has (D-MA) Kerry John Sen. side, Senate On the The Bean bill also would make CommunityExpress CommunityExpress make would also Bean bill The The SBA notice encourages lenders to take advan take to lenders encourages notice SBA The docu for requirements out lays guidance SBA The procedural SBA’s about information Further thereby shutting out minority- and women-owned firms firms women-owned and minority- out shutting thereby take would 1332 H.R. areas. in middle-income are that problem. of that care provi similar some contains which 1256, S. introduced 202-628-8866), or from SBA’s Charlie Thomas (Charles. Thomas Charlie SBA’s from or 202-628-8866), 202-205-6656). or [email protected] Bills Business Small Significant in the Works SBA on impact potent potentially bearing legislation New of in House 45) the to (480 passage easy won has lending Senate the by consideration awaits and Representatives Entrepreneurship. and Business Small on Committee Act Improvements Lending Business Small the 1332, H.R. the authorizes Bean (D-IL), Melissa Rep. by introduced associated fees lender and borrower to contribute to SBA available made are funds when loans program with 7(a) a fed reinstates essentially It purpose. that for SBA the to until decades five for existed that SBA the to subsidy eral in it 2004. ended Congress on focus its keep would and program SBA a permanent other and in low/moderate-income serving businesses “women, by owned those and geographies distressed economi or socially tribes, Indian of qualified members of members or veterans, individuals, disadvantaged cally of issues in previous reported has NCRC As reserves.” the change to been has intention SBA’s Works, Reinvestment borrow CommunityExpress for criteria eligibility the communities, in distressed businesses only target to ers borrower. Generally, SBA expects that the management management the that expects SBA Generally, borrower. plan TA and appropriate), (as plan business assessment, is loan CommunityExpress the before will be developed disbursed. assess and identify to Offices District of SBA local tage Offices District that emphasizing providers, TA local agree their and providers TA participating approve must also are Offices District partners. with lender ments to provided of quality TA the with monitoring charged borrowers. CommunityExpress reiterates CommunityExpress, under TA the menting copies maintaining for responsible held are lenders that that and file, borrower’s in each documents of TA-related assistance technical for be to charged not are borrowers after a year least at for exceptions) limited certain (with SBA. by approval loan on department NCRC’s from be obtained may notice or ([email protected] Development Entrepreneurial - - - - Earlier this year, SBA augmented its guidance on the the on guidance its augmented SBA year, this Earlier as approved serve members NCRC many Since the and assessment management the on Based SBA-approved lenders started rolling out loans in loans out rolling started lenders SBA-approved business plan, the TA provider must develop a recom develop must provider TA the plan, business address to assistance specific including plan, TA mended completing for milestones and weaknesses identified and provider TA the Both plan. the within element each assure to efforts faith good serious make to are lender the the by follow-up and of plan the step of each completion assistance providers and more than 100 lenders across across lenders 100 than more and providers assistance exceed loans 17,618 supply to partnered have nation the program’s the throughout Consistently million. $460 ing minority- to gone have of70% loans the about history, companies women-held to 55% roughly firms, owned veterans. military by owned firms to 12% about and or in low- located are of borrowers one-third to Close communities. (LMI) moderate-income assistance technical the regarding expectations agency’s borrowers, CommunityExpress to cost no at provided has program the As unique. program the makes which attention decreased to pointed has criticism one grown, management quality for need the on lenders some by loans. the receiving entrepreneurs to assistance procedural SBA’s providers, TA CommunityExpress reiterates agency The is noteworthy. (5000-1013) notice manage applicant’s each assess must providers TA that then and weaknesses and strengths technical and ment needs the to tailored plan assistance a technical create ofby needs self-assessment A cursory of applicant. the start-up For adequate. considered is not borrower the except crucial, deemed is also plan a business businesses, circumstances. limited certain under informative than the previous one, and willto and be able one, previous the than informative Among sites. other to links numerous through navigate resource partners, strategic DCMBEC’s to links are these larger of One DCMBEC’s clients. various and partners to Center with the worked Incorporated, 360 clients, site. new the develop Gets Extension, CommunityExpress Expectations TA Clearer announced has Administration Business Small U.S. The Pilot CommunityExpress of popular the an extension extensions Past 2007. 31, December until Program one, this but of periods time, short only for been have the to life on lease a longer gives in March, announced Collaborative Banker/Community NCRC’s program. in it developed and CommunityExpress created Council and financing offer to as a vehicle with SBA cooperation entrepre underserved to assistance technical valuable nation. the across neurs technical community-based 400 over then, Since 1999. - - - - Viewers will find the new web site more robust and and robust more site web willnew the find Viewers MBDA is the only federal agency created specifically specifically created agency federal only is the MBDA With the MBDA funding secured, Director Owen Owen Director secured, funding MBDA the With In its first three years of operation, the DCMBEC the of operation, years three first its In In addition to assistance from MBDA and NCRC, NCRC, and MBDA from assistance to addition In NCRC Receives Second 3-Year Grant 3-Year Second NCRC Receives Business to DC Operate Minority Site New Up Web Center; Enterprise and Running scale, scope, education, access to technology and capital. capital. and technology to access education, scope, scale, mission. that reflects site web new MBEC’s of employment. MBDA then determined that its 30+ cen 30+ its that determined then MBDA of employment. minority larger these help should country the across ters perfor their strengthen (MBEs) enterprises business and revenue in annual as measured especially mance, DCthe that mandates now MBDA figures. employment clients equipping on focus counterparts its and Center size, achieving by marketplace in global the compete to owned businesses in America. After extensive research research extensive After America. in businesses owned minor although that found MBDA gathering, data and or of $1 million with revenues companies ity-owned business minority 3% of overall the just constitute more of66% the for responsible are firms these community, 54.4% and enterprises of minority-owned revenues total Jackson has led a push to revise the Center’s Web site. site. Web Center’s the revise to a led push has Jackson and name new the reflects www.dcmbec.org, site, The from funder federal its by changed of Center, the purpose Center. Development Business Minority of growth minority- and establishment the foster to “engaged clients” that receive one-on-one management management one-on-one receive that clients” “engaged highly Center’s the from more or a year over counseling its assistance, of DCMBEC’s a result As staff. skilled in contracts, million $94 nearly procured have clients created and loans, in business million $12 over obtained jobs. new 783 office space, furnishings and equipment. The MBEC’s MBEC’s The equipment. and furnishings space, office lend who lenders and firms law include partners other Center’s the further to support in-kind and financial companies minority-owned mid-size of helping mission level. next the to grow and capacity their build 60 including firms, minority-owned 431 reached has support over the next three years. years. three next the over support substantial committed has Foundation Wachovia the summer, last began that period a three-year over backing of Employment Department of District Columbia the and of contribution in-kind valuable its Services continues NCRC’s DC Minority Business Enterprise Center Center Enterprise Business DC Minority NCRC’s of confidence vote a powerful given been has (DCMBEC) Minority of Commerce’s Department U.S. the from on Building (MBDA). Agency Development Business enhance continuing and date to performance stellar its DCMBEC with NCRC the services, Center’s the to ments federal for proposal winning a compelling, submitted Small Business Update Business Small 14

ReinvestmentW o r k s Board of Directors of AEO.of Board MayKansasCity in 15-18.for (AEO) Enterprise Opportunity Atmeeting,the John Taylor the towaselected U.S. of crocreditmeeting annualtheat microenterprise development practitionerssponsored bythe Association NCRCPresident JohnCEO Taylorand Mohannedand Yunus,NobelthePeace micropioneer in winning Prize MeetinKansas City ForcesforEconomic Justice andOpportunity neighborhood,neighborhood,level level of of minority largestmetroareasthe show25 which incomeof maps hoods.studyThe wealthyarethatlocatedthey in whiteneighbor and proportionscommunitiessame the minority and in illustratesworkingarehowlocatednotclass in banks community600 groups, associationjusticeof trade Reinvestment(NCRC),Coalition nationaleconomica notaccessproducts.these moderate-incomelow-andthe can livestill that they awayarefar banks these fromwhere andminorities thatworkingneed,vices classfamilies butoftentimes services.similar To sure, be offerser manythe banks establishmentschargeoften muchpricesforhigher low-incomecommunities. in minority and These rent-to-ownand stores aremore— found likely be to banking”checkcashers,— industry payday lenders, mostprestigiousandinstitutions, financial the “fringe supply:short in banks. nation’sourRather than largest communitythe iselement of showcritical thata will US the largest in the cities someof in neighborhoods strollworking-classthroughtheA minority and AreBanks on The Map? “No” Says New NCRC Study A new report by the Nationalreportnewbythe A Community AreMap?theonBanks includes - - - and asset-buildingandproducts, aremorefamilies likely savingsaccounts,checkingandbasic affordable loans, tracts. minority in sample,the in personsonebranch13,473 existed per Minneapolis,worstthe metroarea thedisparitieswith census minority tracts.persons 7,141 in In every nantlywhitecensus tracts, butonebranch forexists predomipersons in branch3,401 forexists every werestudy:worseonetheincome thandisparities in moderate-incomecensus tracts.disparities Racial low-personsand onein branch4,664 forexists every upper-incomeand middle- census(MUI) tracts, but country),persons onebranch3,444 in forexists every metroareasstudylargestthe includedthe(the in in hoods. predominantlylocated in wealthywhiteand neighbor branches bank areclearly showof majority thatthe goes, “athousandwords”a picture speaks mapsthe — branches. bank locationof the and adageold the As to-ownstores thatcharge costsmuchforhigher simi checkcashers,theusing payday stores,loan rent-and Withoutbank,froma access suchservices asto data:backedtrendbytheupis across This25 the

- - - - vative bank services to minority and working-classand minority to vativeservices bank measureto extendbrancheshow wellbanks inno and moderate-incomeand market,itsareas in modified be investmentsand makeloansrequiresto bank low-a to CommunityReinvestment Act,federallawthata programs,ing like.”the and simplesavingsaccounts,aschecking and creditbuild thatworking services demand,Americans bank such of developandexpand totypes only needthe Banks chasingwealthypowersquarethan per mile suburbs. denseinner-citiesmorepackoften in pur living ple president,John Taylor. “Collectively,workingclass peo low-incomeforexpansion,” ripe areas as says NCRC’s showsdata oughtconsiderhosttoof newthat banks report’sthe marketopportunity.a authorsas it view “A industry, banking the of branchesfailurepart a theon relationshipcreditorunion. bank a with householdsUS are “unbanked”thatis,— have they no services.lar Itpercent estimatedthatall nearly 21 is of neighborhoods. conference. 8,000-attendeeeffortsforpublicityan and national recruitment,paigns.their led also She registration, retentionand growth strategiccam strategiesand Association,wheremembershipshemanaged their comesNCRCto Nationalfrom the SchoolBoards membershipmarketinga andprofessional is who Membership/CoalitionDirector of Relations. Patrice PatriceDavenport with ACORN.also prevention,HIV in and transitionalhousingwas and Housing, of OfficeAlexandriaof City Services,the CommunityInvestment Fund, Housing Counseling advocacy.and workedhas She at Washington Area ing,community development, training, organizing strongleadership affordablebackground in hous Membership/CoalitionRelations. Marcya has MeyerMarcy Department ItsMembership NewHires In AnnounceTwo NCRCis Proud to The report also concludesreportalsoThe thatchangesthe to Whilemanywould perceive bank of lackthe n n joins NCRC as the newjoins NCRC the of as VP will join us as our newour asAssistant us join will ------15 ReinvestmentW o r k s - - - n

continued from p. 1 p. from continued n

He urged the committee to support nonprof to support urged the He committee aver in borrowers for savings The difference also the for committee outlined Berenbaum Most loans involved brokers, who often receive who often receive brokers, loans involved Most ofreview in NCRC In faulty another appraisals value, and two thirds were overvalued by 15% by or overvalued and were thirds two value, more. fees (yield spread premiums) from lenders for for lenders from premiums) fees (yield spread loans par withinto above borrowers placing testing in six NCRC metropolitan rates. interest minorities targeted also brokers that areas found and fees. rates loans withfor higher interest one-fifth about of CRF the were loans, homes than 50% more by of their overvalued true A NCRC review of CRF loans shows that abusive ofreview A abusive NCRC that CRF loans shows lenders are targeting minoritytargeting are and lenders low-to-mod 77% ofAbout the CRF borrowers. income erate in 45% Americans; African resided was sample neighborhoods and income low-to-moderate below 83% had about incomes of the borrowers $45,000.

bad lending bad practices. lending programs, through borrowers efforts to assist its’ The CRF Fund. Rescue Consumer as such NCRC’s 5,000 loans since on over borrowers has assisted the In a of sample loans, 2001. 112 predatory The new 5.5% from ranged to 17%. rates mortgage CRF by between ranged loans 1% negotiated to 8%. a a period, 30-year over aged $276 or $100,000, the life of of over amount equity saved substantial a loan. oflending: patterns subprime common • • • President for Housing Research at Fannie Mae. Mae. at Fannie Research Housing for President he served to appointment, his Prior Mae Fannie with Policy the US Tax for Director Assistant as and was a Committee Research Budget Senate Policy withUrban for Associate the Center maintains Jim University. at Rutgers Research his withvisiting positions lecturer Columbia City and The George York in New University Please DC. Washington in University Washington join him us to in NCRC. welcoming - - - s ability to forge s ability to forge ’ Jim “ according to Taylor. according ” In a March letter, NCRC told Administration Administration told NCRC letter, In a March called for Berenbaum In his testimony, Berenbaum renewed an earlier call renewed NCRC by Berenbaum a oftold group over Taylor 16th, On March Jim joins NCRC after servingNCRC joins Jim Vice as Senior continued from p. 4 p. from continued

integrate research and practice and communi research integrate policypublic ofcate issues critical importance the for himmake suited uniquely to the nation, COO post, Planning and Innovation, Financial for President Vice and Foundation Mae at Fannie Research that borrowers with more traditional loans could loans withtraditional could more borrowers that victimsbecome of practices lending the predatory with associated subprime. they that cre helped leaders and congressional the crisis ate sub-prime ignoring by warning for bear responsibility some as a signs result, and, the assisting families and shock facing payment foreclosure. fund a rescue to to national establish legislation and enact a strong borrowers low-income support con strengthen would that law anti-predatory guidance expand regulatory protections, sumer loans and nontraditional abusive, and eliminate Staff NCRC Joins Carr James Officer Operating Chief as make as investment, in and community housing him an ideal the fit for job. and highmanage functional impact cross teams, NCRC Calls For a Shutdown Shutdown a For Calls NCRC “Foreclosure Unscrupulous of Firms Law By Operated Mills” and to allow FHA re-tool to Taylor John President loans that “exotic” ofsome the refinance subprime default into borrowers and more more forced have wrecked have as a result, and, and foreclosure ofon values property next havoc door neighbors. Bankers the by Mortgage issued statistics Recent 14.44 that survey show nationwide Association’s ARM with loans ofborrowers subprime percent in their payments delinquent at least 60 days were in the fourth This quarter of is third up from 2006. such ofquarter for delinquency rate 13.22 percent high. a four-year representing mortgages, 600 activists community crisis the that subprime willtsunamis ravage “mortgage will and worsen this neighborhoods country.” across working-class been have and defaults foreclosure then, Since and warned expertssome have on the increase, - - - - - continued from p. 13 p. from continued n

An SBA press release commented, “Dedicated to community ser community to “Dedicated commented, release press An SBA Hedgespeth brings the experience of long public and nonprofit nonprofit and public of long experience the brings Hedgespeth The Kerry bill would reauthorize the SBA Microloan Program, which which Program, Microloan SBA the reauthorize would bill Kerry The Small business advocates must decide whether to support reinstat support to whether decide must advocates business Small Dropping the subsidy has ended the annual uncertainty that that uncertainty annual the ended has subsidy the Dropping A recent American Banker article focused on both bills’ proposed proposed bills’ both on focused article Banker American A recent “enable SBA to improve its lending programs and expand outreach to to outreach expand and programs lending its improve to SBA “enable markets.” underserved vice, Hedgespeth has focused many of his efforts on advancing inner inner advancing on of efforts his many focused has Hedgespeth vice, market and environments multicultural creating and city economies to Preston Steven Administrator by is expected Hedgespeth places.” Secretary of Economic Affairs in the administration of Massachusetts of Massachusetts administration in the Affairs of Economic Secretary Dukakis. Michael Governor established BankBoston Development Company (which became Fleet Fleet became (which Company Development BankBoston established invest urban bank-owned first nation’s the Ventures), Development African-American first as the served he sector public the In bank. ment careers in Massachusetts, serving most recently as Chief Financial as Chief Financial recently serving most in Massachusetts, careers Employment Structured with the President Vice Senior and Officer and designed also He (Seedco). Company Development Economic and Grady Hedgespeth has been selected as Director of Financial Assistance Assistance of Financial as Director selected been has Hedgespeth Grady took He Access. of Capital Office Administration’s Business in Small the 21st. May on office New SBA Official Brings History of Outreach of History Outreach Brings New SBA Official to Underserved provides valuable assistance to smaller, often home-based firms, and and firms, home-based often smaller, to assistance valuable in provides centers care child non-profit allowing progam pilot a establish would estate. real and equipment purchase to loans 504 obtain to states certain more borrowers and would encourage smaller banks to offer SBA loans loans SBA offer to banks smaller encourage would and borrowers more communities. in their Opponents are concerned that lenders are making ever-smaller loans loans ever-smaller making are lenders that concerned are Opponents to is needed ofmix sizes loan a broad that and impact fee the reduce to attract would fees lowering that believe Many needs. borrowers’ meet SBA operations without the subsidy, especially at year-end, are worth worth are year-end, at especially subsidy, the without operations SBA SBA’s that contends Administration The borrowers. to cost financial the subsidy. the eliminating to is due levels record to volume loan increased to $150,000 — or up to $1,500 that is usually financed over the life of life the over financed is usually that $1,500 to up — or $150,000 to loan. the ifor smoother the fees, borrower lower could which subsidy, the ing tive effect of no subsidy has been to keep SBA-guaranteed loans flowing flowing loans SBA-guaranteed keep to been has of subsidy no effect tive pay borrowers those However, interruption. without entrepreneurs to up loans 1% on by in 2004 increased which fees, loan of higher price the had covered these costs was relinquished. relinquished. was costs these covered had so a posi process, approval appropriations prolonged the from resulted 2001, the SBA lowered guaranty fees by half on loans under $150,000, $150,000, under half loans by on fees guaranty lowered SBA the 2001, the 2004 Fall In $700,000. to up loans larger on slightly fees reduced and that subsidy federal the and levels previous their to fees reinstated SBA federal subsidy to the SBA in order to lower loan guaranty fees that are are that fees guaranty loan lower to in order SBA the to subsidy federal in attacks terrorist 9/11 the After borrowers. and lenders SBA by paid sions but differs significantly from H.R. 1332. The Kerry bill has passed passed has bill Kerry The 1332. H.R. from significantly differs but sions and Entrepreneurship and Business Small on Committee Senate the action. floor awaits Small Business Business Small Update Proposed Partnership with Consumer Action on Financial Literacy “Train the Trainer” Programs for Community-Based W o r kOrganizations s

Train-the-Trainer Newark, New Jersey: On March 28, the ketplace by low income, disadvantaged, minority, immi- their finances. The Money Wi$e stipend program helps Reinvestment Director of the NCRC Training Academy was invited grant and senior consumers to build innovative national to support the efforts of local organizations dedicated to to participate in a 2-day “Train the Trainer” intensive personal finance education and outreach program for engaging and educating at-risk consumers. 16 training program in Newark, New Jersey to be intro- use by individuals and community based organiza- duced to the MoneyWi$e curriculum developed by tions and are available in 5 languages, English, Spanish, Partnership with Consumer Action: NCRC is explor- Consumer Action to teach community-based organiza- Chinese, Vietnamese and Korean. ing the possibility of a partnership with Consumer tions on issues of financial literacy. Consumer Action Action to market the MoneyWi$e curriculum to NCRC and Capital One formed the MoneyWi$e national finan- Mini-Grant Competition: The MoneyWi$e program is members and non-member contacts through linking cial literacy partnership to educate consumers about offering competitive national mini-grants program to MoneyWi$e on our NCRC website, advertising the how to manage their finances. to fund community-based organizations to teach the availability of materials through Community Investment MoneyWi$e educational modules in their communities. Network, offering webinars and/or instructor led deliv- Topics included: money management, banking basics, Organizations can receive stipends of up to $5,000 to ery, highlighting the program in Reinvestment Works senior scams, talking to teens about money, bankruptcy, help fund training workshops, financial counseling and quarterly newsletter and presenting a train-the-trainer micro business finance basics, understanding credit, distribution of the free MoneyWi$e educational materi- workshop at the NCRC annual conference. savings tools, and identity thief. These 10 training mod- als for the benefit of low income and homeless families, ules are complete with lesson plans, brochures, leader’s immigrants and students in their local communities. Houston “Train-the Trainer” Program: Consumer Action is guides, skills building exercises, worksheets, quizzes, The stipend program demonstrates the commitment of providing a second “train-the-trainer” event in Houston evaluations, background guides for community-agency the Money Wi$e partners to support local communities in September, 2007. NCRC members interested in par- staff, adult learning curriculums, classroom activities and their financial education curriculum. Money Wi$e is ticipating in this 2-day training session should contact and Power Point slide presentations for training the designed to provide consumers at all income levels with Ada Albright, Director, NCRC Training Academy, trainers and classroom use. The modules were designed the building blocks they need to help better manage 202-464-2727 or email her at [email protected]. n to increase participation in the financial services mar-

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