Archive for the ‘Show On Home’ Category

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This week, the Federal Housing Finance Agency (FHFA) announced plans to fund two essential affordable housing programs—the National Housing Trust Fund(NHTF) and the Capital Magnet Fund.

At NCLR, we’ve long urged the FHFA to fund these programs, which would begin to correct the dire shortage of affordable housing in this country.

Nearly a year of inaction after his swearing in, we’re pleased to see FHFA Director Mel Watt take a stand for struggling families by directing FHFA to fund the much-needed affordable housing programs.

To be funded from less than one-twentieth of a percentage point of Fannie Mae and Freddie Mac’s business purchases, the funds are expected to total between $400 and $500 million annually, amounting to a boon for low-income Latino families.

Latinomics Cropped

Cutting across partisan divides, voters across America backed minimum wage increases.

This fall, we saw the Latino unemployment rate hit the lowest level since February 2008, declines in the Latino poverty rate, and victory for 200,000 employees of federal contractors who will now make a minimum wage of $10.10.

While the Latino poverty and unemployment rates still remain disproportionately high and we saw setbacks as the Labor Department delayed implementing the minimum wage for home care workers, NCLR won’t stop fighting for the rights we all deserve.

Thanks for all your support this fall, and read on to see the latest in Latinomics!

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Last week, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray addressed students at Michigan State University on the anniversary of three pivotal moments in American History: the Supreme Court’s 1954 Brown v. Board of Education decision, the 1964 Civil Rights Act, and the Equal Credit Opportunity Act of 1974.

With these three historic events, the United States moved closer to fully realizing the inevitable truth that civil rights, political rights, and economic rights are inextricably linked. They are all necessary for a free and democratic society.

While Brown v. Board of Education and the 1964 Civil Rights Act are relatively known for their roles in reducing legal discrimination, Director Cordray used his speech to highlight a less-known antidiscrimination law: the 1974 Equal Credit Opportunity Act (ECOA), which celebrates its 40th anniversary this year.

For the first time, ECOA outlawed discrimination by creditors against borrowers based on race, ethnicity, sex, age, and national origin.