The Washington Post, November 17, 2023, Our Kids Don’t Want Our Paid-Off House — Or Our Ashes In 1940, the Black homeownership rate was 22.8%, nearly half of the 45.6% for Whites, according to the National Community Reinvestment Coalition. Until 1968, homeowners and real estate agents could legally refuse to sell homes to African Americans […]
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Yahoo Finance, November 14, 2023, First Citizens Announces Expanded Commitment To Communities In Northern California And Eastern Massachusetts First Citizens Bank today announced an amendment to its existing Community Benefits Plan agreement with the National Community Reinvestment Coalition (NCRC) and its members that extends the bank’s longstanding community support to Northern California and Massachusetts following its March acquisition of
American Banker, November 14, 2023, First Citizens Unveils Revised SVB Community Plan Worth $6.5 Billion National Community Reinvestment Coalition Chief Executive Officer Jesse Van Tol called the agreement a “huge relief” for the communities that stood to benefit from SVB’s earlier community benefits plan. NCRC is one of the organizations that signed the deal with
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This is part of a series of profiles showcasing the talented entrepreneurs of NCRC’s DC Women’s Business Center. Advanced Technology Solutions LLC is a women-owned business started by Dionysianna Ala’ilima that provides IT consulting services. What kind of product or service do you sell? We provide IT consulting and field engineering services. Are you a
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American Banker, June 30, 2023, BankThink No Deposit Insurance Hikes Without More Social Accountability For Banks If the government is going to back deposits at a higher level, banks need to earn that extra subsidy by getting serious about underwriting the public good. Any deposit insurance hike should be conditioned upon the banking trades ending
American Banker, June 8, 2023, After Buying Bank Accused Of Redlining, Cadence Gets Top CRA Score Last year, Cadence and the National Community Reinvestment Coalition announced a five-year, $20.7 billion community benefits plan. The commitment included $11.8 billion of mortgages to homebuyers of color and low- and middle-income borrowers, $6.5 billion of loans to certain small
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The American Prospect, June 5, 2023, Predatory Lending’s Prey Of Color MS. LILLIE SHOULD NEVER HAVE BEEN subject to a predatory loan. She worked at a hospital for 14 years, retiring at 65. Her pay was “reasonable.” For the most part, she was supporting herself. Still, she would find herself needing a boost for necessities, like
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The Grio, June 3, 2023, Vice President Harris Leads New Charge To Address Racial Bias In Home Appraisals Jesse Van Tol, president and CEO of the National Community Reinvestment Coalition, said in a public statement that he is particularly hopeful that the plans to diversify the appraisal industry will “cure one of the core issues
Connecticut Public Radio, May 24, 2023, Connecticut Reaches Baby Bonds Deal Officials hope the program will help break cycles of generational poverty. It’s on track to begin in July, after being in political limbo for quite some time. This hour, we look at what it will mean for Connecticut residents — and why it took
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The Nonprofit Quarterly, May 10, 2023, National Gathering Looks To Address Root Causes Of Inequality “We know that redlining and segregation was not just a phenomenon that has to do with banks,” Jesse Van Tol, CEO of the National Community Reinvestment Coalition, said. “Institutional racism means that many institutions were implicated in the creation of
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Consumer Reports, May 11, 2023, What to Do if You Are Denied a Mortgage Incomplete or unverifiable information is another primary reason for mortgage loan denials, according to a 2020 analysis from the National Community Reinvestment Coalition, a national organization of community groups. Besides paystubs, tax returns, and W-2 income statements from your employer, lenders
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San Bernardino American News, May 9, 2023, Over 80 Groups Tell Federal Regulators Key Bank Broke $16.5 Billion Promise Cross-Country Redlining Aided Wealthy White Communities While Excluding Black Areas “If you or I break a promise to our bank, they hold us accountable with fees. When a bank breaks promises, the law says there are
PR Newswire, May 9, 2023, First Horizon Commits $50 Million To Its Communities Jesse Van Tol, President and CEO of the National Community Reinvestment Coalition, commented, “First Horizon has been a reliable, trusted partner for NCRC and many of our nonprofit members for years. We are thrilled that our communities will continue to benefit from the leadership
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American Banker, May 8, 2023, With TD’s Acquisition Called Off, So Is Its Community Benefits Plan The five-year agreement with community groups, which was unveiled in February, was contingent on the completion of the merger, a TD spokesperson said in a statement. The bank will continue its dialogue with the National Community Reinvestment Coalition and
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Banking Dive, May 5, 2023, KeyBank agrees to third-party racial equity audit The National Community Reinvestment Coalition asked the Federal Reserve and the Office of the Comptroller of the Currency to downgrade KeyBank’s Community Reinvestment Act rating in a letter March 31. The NCRC published a report in November asserting that KeyBank had the lowest percentage of mortgage originations to Black borrowers
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