National Alliance of Community Economic Development Associations        May 24, 2021

Federal News

OCC Hits the Brakes on Harmful CRA Rule

The Office of the Comptroller of the Currency (OCC) announced that it will halt the further implementation of the Trump administration rule on the Community Reinvestment Act (CRA). OCC Acting Comptroller Michael Hsu stated, "All options are under consideration, including rescinding or substantially revising the current rule and working with the Federal Reserve and FDIC on a joint proposal" in his May 19 Congressional testimony. Federal Reserve Chairperson Jerome Powell recently expressed openness to expanding the federal CRA beyond only depository institutions.

"The Community Reinvestment Act needs to be modernized. But the foundation upon which the OCC built its 2020 rule was unsound, as the NACEDA and many other argued last year. We are glad to see that the agency came to its senses," said NACEDA Executive Director Frank Woodruff. "The struggle to drive equitable investment and resources to the communities we serve must go much further than simply stating what we don't want. We must be at the table with regulators to craft the future of CRA. We look forward to working with them in the coming years on a unified proposal across all three agencies."

In other CRA news, Illinois recently enacted a state-based Community Reinvestment Act that covers state-chartered credit unions and most mortgage companies. Next City examines the Illinois CRA law with perspectives from NACEDA Board Member Sharon Legenza of Housing Action Illinois and Frank Woodruff of NACEDA. 

NACEDA Co-Hosts People & Places Federal Advocacy Week

People & Places Federal Advocacy Week

The People & Places Collaboration is organizing virtual meetings on June 21 – 25 with Members of Congress and the Biden administration. Federal Advocacy Week is part of a long-term collaboration among our networks to raise the voices of local community developers. As our country drives toward economic recovery, we are committed to ensuring that the communities we serve are at the table and that their needs are prioritized. Watch this space for our advocacy and policy priorities. NACEDA and our members will strategically invite local organizations to participate in the meetings.

The People & Places Collaboration includes NACEDA, the National Association for Latino Community Asset Builders, National Coalition for Asian Pacific American Community Development, and the National Urban League. 

Member News
New Jersey Member Launches Housing Help NJ 

The Housing and Community Development Network of New Jersey (the Network) launched a free resource for New Jersey renters, landlords, and homeowners impacted by the pandemic. Housing Help NJ was funded with $1.9 million from the New Jersey Pandemic Relief Fund and $1.25 million from the New Jersey Affordable Housing Trust Fund – Innovation Fund. State residents can access information and connect to housing counselors through a new website, toll free number, and text alert system.

"Through Housing Help NJ, housing counselors help residents protect themselves during this crisis and refer those who need legal help to our partners at Volunteer Lawyers for Justice,” stated Sharon Barker, vice president and chief operating officer of the Network. “The moratorium on evictions and foreclosures will be coming to an end sooner than later, and we hope to ward off a crisis by helping these families understand their rights and navigate a complex system. We are glad to be able to help.”

The Network also provides training and technical assistance to the 48 housing counseling agencies across the state to enable them to serve renters and work with small and non-profit landlords and tenants to develop and implement a mediation process to prevent eviction.

Funding & Job Opportunities
NACEDA is Hiring! 

NACEDA Program Associate
The Program Associate will support NACEDA's new and growing programs and advocacy efforts. The associate would report to the executive director but would regularly work with other organizational staff and consultants. In 2021, the program associate will focus on these projects: a national study of community development corporations, advocacy including People & Places Federal Advocacy Week, and membership support.

Thriving Network VISTA
NACEDA seeks an AmeriCorps VISTA for our Thriving Networks initiative. The VISTA will work closely with NACEDA staff on professional and peer trainings, targeted communications, member consultations, and two national conferences (currently virtual). NACEDA will provide a housing stipend.

The deadline to apply for both positions is May 31, although earlier application recommended. NACEDA's office is located in Washington, DC. 

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