House Republicans’ doomed attempt to repeal section 1071 small business lending data rules is a pointless performance for their bank industry donors.
The National Community Reinvestment Coalition (NCRC) and First Citizens Bank today announced an amendment to their previous community benefits agreement, extending the bank’s longstanding community support to Northern California and Massachusetts following its March acquisition of Silicon Valley Bank (SVB). The additional commitment, which recognizes pre-existing Silicon Valley Bank relationships, establishes a new $6.5 billion …
As conversations regarding the rapid concentration of wealth dominate economic and political discourse, it’s worth analyzing the details of wealth within the billionaire class. However, little attention has been paid to billionaires of African descent. Twenty-four people of African descent have appeared in the Forbes billionaires list. People of African descent have historically been locked …
The Racial Wealth Divide and Black Billionaires Across the Globe Read More »
KeyBank continued its years-long retreat from promoting Black and low-income homeownership in 2022, an analysis of the most recent federal data on mortgage lending reveals. Black borrowers made up just 2.6% of the Cleveland-based bank’s home purchase mortgage lending in 2022, down from 3% the year prior. KeyBank has been pulling back from supporting Black …
KeyBank’s Betrayal Of Black And Low-Income Homebuyers Continued In 2022 Read More »
When the first Black billionaires emerged, most stemmed from the entertainment industry. In 2001, Black Entertainment Television cofounder Bob Johnson was the world’s wealthiest Black person with an estimated net worth of $1.6 billion. By 2021, Johnson’s estimated fortune had fallen by more than half – meaning he no longer appeared on annual magazine lists …
The Racial Wealth Divide and US Black Billionaires Read More »
A rich new federal report assessing the Federal Home Loan Bank (FHLB) system will help the public and policymakers achieve effective reforms to improve the FHLBs’ future performance, community advocates said Wednesday. “Government support is crucial in closing the racial homeownership divide, but the dollars deployed through the FHLB system are too often captured on …
New Report On Federal Home Loan Banks Can Be Springboard To Much-Needed Reforms Read More »
Was the October jobs report good, bad, or just plain complicated?
Federal Reserve Vice Chair for Supervision Michael Barr, FDIC Board Chairman Martin Gruenberg and Acting Comptroller of the Currency Michael Hsu will discuss the new Community Reinvestment Act (CRA) rules in a live conversation with National Community Reinvestment Coalition (NCRC) President and CEO Jesse Van Tol next Friday, November 3rd. Interested parties can register for …
In response to the release Tuesday of final interagency regulations overhauling implementation of the Community Reinvestment Act (CRA) for the first time in 28 years, National Community Reinvestment Coalition (NCRC) President and CEO Jesse Van Tol released the following statement: “This update is both long overdue and essential. Marginalized communities still suffer from a variety of …
The CFPB thinks that your personal data should belong to you, not your bank.
Who were the first Black billionaires, and how did they make their money?
Sens. Manchin, Sinema, Tester, Hickenlooper and King voted against their constituents’ best interests on Wednesday.
Appraisal bias and other forms of racial discrimination can only be addressed when there is clear, consistent and thorough data to work from.
The CFPB and FTC are fining TransUnion $20 million for tenants rights violations.
The Biden-Harris effort to protect consumers from junk fees is also good for legitimate businesses.
