American Banker, January 12, 2023, Community reinvestment group plans to put KeyBank’s regulators on notice
One month after releasing a highly critical report about KeyBank’s mortgage lending record to Black borrowers, the National Community Reinvestment Coalition is taking its concerns to regulators.
The fair-lending advocacy group says it is planning to send letters this quarter to the Federal Reserve and the Office of the Comptroller of the Currency that focus on KeyBank’s “failure to complete” a five-year, $16.5 billion community benefits plan to which it committed in 2016 while seeking regulatory approval to acquire First Niagara Financial Group in Buffalo, New York.
