Navy Federal Credit Union faces allegations of racial discrimination, with data showing significant disparities in mortgage approval rates between white and Black borrowers. The credit union's exemption from the Community Reinvestment Act (CRA) may have contributed to this issue, as CRA oversight could have identified and addressed the disparities earlier. Large credit unions, particularly those with assets over $10 billion, are suggested to be subject to CRA to ensure fair lending practices. Senator Warren's 'CRA lite' bill and other legislative and regulatory solutions are discussed as ways to level the playing field and enhance compliance.

Community banks have played a significant role during the pandemic by providing Paycheck Protection Program (PPP) loans and loan modifications, yet they are not receiving adequate credit from regulators, Congress, and community groups. They face criticism for PPP fees and disproportionate lending to larger firms, while also dealing with Small Business Administration audits and investigations into PPP fraud. Despite this, studies indicate that community banks were more effective in serving their communities compared to big banks. The author's PPP Loan Community Responsiveness Index shows that most community banks had higher ratios of PPP loans relative to their market share of deposits than larger banks. However, community banks are not being given proper Community Reinvestment Act (CRA) credit for their efforts, unlike large banks which ensure they receive credit for their community assistance. The author suggests that regulators, particularly the Federal Deposit Insurance Corp., improve their CRA exams to acknowledge the contributions of community banks and recommends that banks not receiving proper credit document their activities in their CRA Public File.

The article discusses the concept of a society's wealth, equating it with capital and encompassing resources such as knowledge, skills, infrastructure, and natural resources. It argues that wealth is increased through net improvements in resources and that the worth of money is tied to a society's wealth. The piece also touches on the environmental impact of resource consumption, the importance of resource management, and the role of the military as a societal resource.

The author reflects on their experience of attending economics meetings via Zoom, noting how the platform, in conjunction with PowerPoint, leads to a focus on slides rather than the speaker. They criticize the excessive use of text and graphics in PowerPoint presentations and the small speaker window in Zoom's standard screen layout. The author shares their own strategy as a teacher to use minimal text and large fonts on slides to keep students focused on the speaker, a technique that is less effective on Zoom due to the screen space ratio.

Mitch McConnell is criticized for his actions during Barack Obama's presidency, including blocking initiatives and denying a Supreme Court appointment. McConnell's role in the 2016 election, his coordination with the White House during Trump's impeachment, and his opposition to pandemic relief are also condemned. The article argues that McConnell has enabled and abetted Donald Trump's abuses of power and calls for his resignation, deeming him unfit for office.

Michael Smith discusses the disruption of the hydrologic cycle, highlighting the eastward shift of the Powell 100th meridian, the reliance on drought areas for produce, and the significant water usage by agriculture and technology companies. He notes the legal battles over aquifer water usage, such as the City of Houston versus Dow Chemical Co., and the listing of water as a commodity. Smith also mentions the expected sea level rise and its potential catastrophic impact on Galveston and Houston, emphasizing the complexity of water management issues.

New jobless claims have risen from their pandemic lows, with seasonally adjusted claims increasing by 23,000 to 885,000 and the 4-week moving average reaching the highest in over a month. Unadjusted claims decreased slightly, but there is a five-week trend of increasing year-over-year comparisons. Continuing claims hit a new pandemic low after seasonal adjustment. However, the trend in jobless claims is likely to reverse upwards due to the pandemic's resurgence. An increase in jobless claims has historically indicated a recession and coincided with job losses in monthly reports.

The article discusses a strategy to vaccinate twice as many people with one dose of the Pfizer/Moderna vaccines instead of the standard two doses, to quickly increase immunity in the population amidst supply constraints. The author, not an epidemiologist, presents a model with assumptions about infection rates, immunity, and vaccine efficacy, concluding that this approach could save lives and potentially aid economic recovery. The author suggests that the incoming Biden administration should consider this strategy, despite potential controversy, to avoid economic pain and political gridlock.

The article discusses the growing economic disparity in the United States, where the top sixty percent are doing well while the bottom forty percent struggle. It highlights the increasing burden of rent and other costs on small business owners and workers, leading to a situation where a significant portion of income goes to rentiers. The piece also critiques the business models of companies like Airbnb, which exacerbate housing shortages and homelessness by turning residential properties into short-term rentals. The author questions the sustainability of growth and retirement expectations that rely on the exploitation of workers and resources, suggesting that the current economic model is failing to address the needs of the lower forty percent of the population.