The Charlotte Observer, April 4, 2022, Fannie Mae picks Charlotte for new program expanding housing access Charlotte is one of three cities chosen by Fannie Mae for a new program to increase voucher acceptance in rental housing, the government-backed mortgage institution announced Monday. Fannie Mae will offer lower loan financing costs to owners of apartment buildings if […]
Washington Examiner, April 3, 2022, Banks brace for CFPB to take aim at credit card late fees Banks expect the federal government to crack down on credit card late fees following a highly critical report from the Consumer Financial Protection Bureau highlighting the effects of the penalties on households. The report, published this past week, emphasized that the $12 billion in
Washington Examiner: Banks brace for CFPB to take aim at credit card late fees Read More »
Business Insider, March 30, 2022, A student-loan company just got hit with a $1 million penalty for ‘breaking the law’ by lying to borrowers about loan forgiveness, Biden’s top consumer watchdog says On Wednesday, the Consumer Financial Protection Bureau (CFPB) sanctioned Edfinancial Services for “making deceptive statements to student loan borrowers and misrepresenting their forgiveness and repayment
American Banker, April 27, 2022, New York Community and Flagstar delay merger, shift regulatory strategy New York Community Bancorp and Flagstar Bancorp are extending the deadline for their merger until late October and have decided the combined entity would be a national — not a state-chartered — bank. The change in strategy comes three months
American Banker: New York Community and Flagstar delay merger, shift regulatory strategy Read More »
NAFCU, April 26, 2022, Berger: Big banks have abandoned underserved communities In a new op-ed for American Banker, NAFCU President and CEO Dan Berger calls out the soaring closure rate of big bank branches and its disproportionate impact on underserved, rural communities, while simultaneously hastening the formation of banking deserts. Recognizing the toll the pandemic took on
NAFCU: Berger: Big banks have abandoned underserved communities Read More »
Insider Intelligence, April 25, 2022, CFPB looks into the financial challenges of rural communities in the US The Consumer Financial Protection Bureau (CFPB) is looking into the financial challenges faced by rural communities in the US living in banking deserts. Eighty-six new banking deserts were created in rural areas from 2008 to 2016, according to the
American Banker, Waters’ proposed legislation would benefit underbanked communities A recent report from the National Community Reinvestment Coalition found that while families and Main Street small businesses were desperate for financial support and counsel, America’s banks took advantage of the crisis to accelerate the pace of their already planned branch closures, escalating the formation rate of banking
American Banker: Waters’ proposed legislation would benefit underbanked communities Read More »
Department of Health NYC, The 90-year-old financial policy that harms our health In New York City, many once-thriving neighborhoods experienced severe disinvestment as a result of redlining, which caused inequality that continued from one generation to the next. Neighborhoods that were redlined in the 1930s have higher rates of poverty even today – nearly 90
Department of Health NYC: The 90-year-old financial policy that harms our health Read More »
India West Journal, April 13, 2022, South Asians For America Offers First-Ever South Asian Organizing Training Series South Asians for America (SAFA) will offer a first-of-its-kind organizing training series for the South Asian community to take place on Thursdays, April 14, 21and 28 at 8 pm ET via Zoom. The first session on April 14 will
American Entrepreneurship Today, March 31, 2022, Black and Brown Female Entrepreneurs, Allies Call for Change at Annual Summit The 4th Annual Women of Color Connecting Virtual Summit (WOCCON 2022), hosted by the Institute For Entrepreneurial Leadership (IFEL) recently, issued a strong call-to-action. “Listen, learn, engage, then act,” stated IFEL CEO Jill Johnson, referring to the purpose-driven action
PhillyVoice, A look inside the Philadelphia real estate market and steps that can be taken for the future of affordable housing A recent report from the National Community Reinvestment Coalition underscores how racial disparities in mortgage lending have persisted during the COVID-19 pandemic, making it harder for people of color to access conventional loans in low- to
VAntage Point, April 11, 2022, Financial literacy resources from Treasury’s Office of the Comptroller of the Currency Veterans wanting to learn more about financial literacy can take advantage of the following free resources and events from The Office of the Comptroller of the Currency (OCC). This Financial Literacy Update publishes quarterly and reports upcoming events, new
Bloomberg, April 8, 2022, How Greenwood Became the Most Hyped Startup in Black America Over the past year-and-a-half 700,000 people have added their names to the waiting list of a financial startup named Greenwood as if it were a sneaker drop. Greenwood is part of the subset best described as neobanks, apps that offer banking
Bloomberg: How Greenwood Became the Most Hyped Startup in Black America Read More »
Tampa Bay Newswire, April 7, 2022, Crab Devil Awarded Community Redevelopment Area Façade Grant For East Tampa CRA Tampa-based multimedia art collective Crab Devil is thrilled to announce they have been approved for the City of Tampa’s Community Redevelopment Area (CRA) Façade Grant for the East Tampa CRA. The Crab Devil campus will provide a
Prism, April 7, 2022, Understanding inflation, all of its causes, and who it affects the most COVID-19 and inflation exacerbated existing inequalities, with inflation disproportionately affecting low-income workers and communities of color. Dedrick Asante-Muhammad, the chief of membership, policy, and equity at the National Community Reinvestment Coalition, said the rising costs are hitting people who have lower incomes
Prism: Understanding inflation, all of its causes, and who it affects the most Read More »
