American Banker, May 4, 2022, Big-bank CEOs warn of recession risk The CEOs of three large U.S. banks are raising concerns about a possible recession, saying the Federal Reserve has a tricky job ahead in combating inflation without sparking a downturn. JPMorgan Chase’s Jamie Dimon, Bank of America’s Brian Moynihan and Morgan Stanley’s James Gorman […]
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NPR, May 2, 2022, A US pediatricians’ group is trying to eliminate race-based medical guidance For years, pediatricians have followed flawed guidelines linking race to risks for urinary infections and newborn jaundice. In a new policy announced Monday, the American Academy of Pediatrics said it is putting all its guidance under the microscope to eliminate
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Bloomberg, May 2, 2022, What Does Affordable Housing Do to Nearby Property Values? Concerns about what happens to the property values of existing residents when affordable housing is built nearby are a common feature of battles over new housing in U.S. cities. But this time, Alexandria’s director of housing, Helen McIlvaine, decided to look for some Alexandria-specific answers.
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Politico, May 2, 2022, Supreme Court has voted to overturn abortion rights, draft opinion shows The Supreme Court has voted to strike down the landmark Roe v. Wade decision, according to an initial draft majority opinion written by Justice Samuel Alito circulated inside the court and obtained by POLITICO. The draft opinion is a full-throated, unflinching repudiation of the
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AP News, April 29, 2022, Redfin settles lawsuit alleging housing discrimination Fair housing advocates on Friday announced a settlement agreement to resolve a lawsuit against real estate brokerage Redfin that will expand housing opportunities for consumers in communities of color in numerous major cities. Under the agreement, Seattle-based Redfin will change its minimum housing price
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KCRG, May 24, 2022, The Black homeownership gap in Cedar Rapids According to the 2020 National Community Reinvestment Coalition Home Mortgage Report, home loan originations to majority-minority neighborhoods declined to 18.5% in that year from 19.1% just two years prior. According to the NCRC report data, a significant percentage of loan paperwork has lacked race
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Bloomberg Law, May 24, 2022, Bank Mergers Face More Public Hearings, Scrutiny Under Biden Public hearings are set to become a more common feature in big bank merger reviews, allowing community groups and regulators to seek changes and conditions before deal approvals. Public merger hearings also provide insight into what bank regulators are thinking about
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Sustainability HQ, May 20, 2022, Investing in Communities: KeyBank Exceeds Community Benefits Plan Financial Commitments To ensure our plan continues to best serve our communities, we worked with the National Community Reinvestment Coalition (NCRC) to gather community feedback throughout our footprint. Key and the NCRC hosted seven community listening sessions in 2021 to learn what
Local News Matter, May 10, 2022, Are Santa Clara County’s American Indians disappearing? The 2020 census shows a 20% decrease in American Indians across Santa Clara County, perplexing city officials and fueling advocates’ concerns. American Indians across the United States have the highest poverty rate among all minority groups. In 2018, the poverty rate among
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Forbes, May 10, 2022, Bridging The Gap: Why Clinical Trials Have A Diversity Problem And How To Fix It One’s geography alone can be a huge indicator of what your health journey might look like. According to the National Community Reinvestment Coalition, up to 60% of your health is determined by your zip code. This is
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Directionsmag.com, May 11, 2022, Understanding Redlining in America through GIS If you live in the United States, it’s likely that you live in an area that was highly segregated by race and economic status in the early 20th century. Neighborhoods have become more diverse since the 1900s, but the original composition of neighborhoods can be
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Seeking Alpha, May 9, 2022, US Bancorp proposes $100B Community Benefits Plan as part of MUFG Union deal U.S. Bancorp (NYSE:USB) has unveiled a $100B Community Benefits Plan that focuses on supporting equitable access to capital for low- and moderate-income communities and communities of color, the bank said Monday. The bank developed the program in coordination with the
Business Wire, May 9, 2022, US Bancorp Announces $100 Billion Community Benefits Plan U.S. Bancorp (NYSE: USB) today announced a five-year community benefits plan (CBP), developed in coordination with the National Community Reinvestment Coalition (NCRC) and the California Reinvestment Coalition (CRC), as part of the planned acquisition of MUFG Union Bank. The CBP continues and
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Star Tribune, May 9, 2022, US Bank announces $100 billion community plan in merger with MUFG The company’s counterparts in developing the plan were the National Community Reinvestment Coalition, a Washington-based nonprofit organization that negotiates with banks on such agreements, and the California Reinvestment Coalition. Jesse Van Tol, president of the National Community Reinvestment Coalition,
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American Banker, May 6, 2022, Caught between bankers and activists, can the CRA reform proposal make everyone happy? Federal bank regulators moved forward on their major rewrite of the Community Reinvestment Act to wide applause from unusual bedfellows: banking trade organizations and community groups. Jesse Van Tol, CEO of the National Community Reinvestment Coalition, said
