skip to main content
skip to newscasts

Thursday, April 18, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

A new study shows health disparities cost Texas billions of dollars; Senate rejects impeachment articles against Mayorkas, ending trial against Cabinet secretary; Iowa cuts historical rural school groups.

view newscast page
play newscast audioPlay

The Senate dismisses the Mayorkas impeachment. Maryland Lawmakers fail to increase voting access. Texas Democrats call for better Black maternal health. And polling confirms strong support for access to reproductive care, including abortion.

view newscast page
play newscast audioPlay

Rural Wyoming needs more vocational teachers to sustain its workforce pipeline, Ohio environmental advocates fear harm from a proposal to open 40-thousand forest acres to fracking and rural communities build bike trail systems to promote nature, boost the economy.

Report: Lenders don't serve NYC Black, Brown communities equitably

play audio
Play

Tuesday, January 2, 2024   

An analysis of big banks in New York City contended they are perpetuating lending disparities.

The New Economy Project report showed banks are not lending to people of color at the same rate they are lending to others. The report noted the banks originated 25 cents in mortgage loans in neighborhoods of color for every dollar they lent in all other neighborhoods, although New York City neighborhoods of color are about equal to all others.

Will Spisak, senior program associate for the New Economy Project, said it is not a new issue.

"We see this predictable, unfortunately, pattern that's played out throughout history and continues to today," Spisak asserted. "Whiter communities getting more investment, more services, and better attention from the banking sector, and Black and brown communities continuing to deal with the legacy and continued practice of redlining."

Banking agencies are working to keep banks in check. The Consumer Financial Protection Bureau recently accused Wells Fargo of discrimination in mortgage loans. The bureau found Black and female borrowers got fewer pricing exceptions than other customers. While Wells Fargo has faced reprimands, Spisak feels more could be done, such as New York City refusing to keep city funds with them.

The report suggested one solution to provide loans to those who need them is creating a public bank. City and state-level legislation has been brought forward, and although it has gained some support, it has yet to be passed.

Spisak pointed out studies about public banking in New York prove it could be beneficial to city and state residents.

"You could get about 18,000 affordable housing units built through a public bank in the first five years," Spisak contended. "It would create 70,000 plus jobs. We would get about $6 billion lent into neighborhoods of color and lower-income communities within the first five years."

After several banking institutions were seized by the federal government in 2023, advocates like Spisak feel a public bank would help protect New York's financial assets. He noted since the bills are new, they are still in the process of garnering support.


get more stories like this via email
more stories
Environmental advocates are asking California's next state budget to prioritize climate mitigation and cut tax breaks for fossil fuel companies. (The Climate Center)

Environment

play sound

As state budget negotiations continue, groups fighting climate change are asking California lawmakers to cut subsidies for oil and gas companies …


Health and Wellness

play sound

Health disparities in Texas are not only making some people sick, but affecting the state's economy. A new study shows Texas is losing $7 billion a …

Environment

play sound

City and county governments are feeling the pinch of rising operating costs but in Wisconsin, federal incentives are driving a range of local …


Each year since 2018, there have been more than 1 million online ads for guns which could be sold without a background check. (Adobe Stock)

Social Issues

play sound

Well over three-fourths of Americans support universal background checks for gun purchases, but federal law allows unlicensed people to sell guns at …

Environment

play sound

By Max Graham for Grist.Broadcast version by Alex Gonzalez for Arizona News Connection reporting for the Solutions Journalism Network-Public News Serv…

During what is known as the Medicaid post-pandemic "unwinding" process, South Dakota saw the largest drop in children's enrollment in the country, with a 27% reduction in the first six months. (Adobe Stock)

Social Issues

play sound

Last year's Medicaid expansion in South Dakota increased eligibility to another 51,000 adults but a new report showed among people across the state wh…

Health and Wellness

play sound

There is light at the end of the tunnel for Tennesseans struggling with opioid addiction, as a bill has been passed to increase access to treatment …

Environment

play sound

The New York HEAT Act might not make the final budget. The bill reduces the state's reliance on natural gas and cuts ratepayer costs by eliminating …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright 2021