The New York Times, April 18, 2022, A Rising Tally of Lonely Deaths on the Streets More than ever it has become deadly to be homeless in America, especially for men in their 50s and 60s, who typically make up the largest cohort of despair. In many cities the number of homeless deaths doubled during […]
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The Washington Post, April 19, 2022, Report: Majority of renters can’t afford to buy in their city Double-digit rent increases in the past year make many renters long to lock in their housing costs by buying a home. But a recent analysis by Porch, a home services platform, found that 61 percent of renters can’t afford
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The Wall Street Journal, April 18, 2022, Small Businesses Object to Rerouting of COVID-19 Aid Small-business owners are bristling over a congressional proposal that would redirect unspent money from COVID-19 programs to provide $10 billion for the federal government’s pandemic health response, including vaccines and therapeutics. At issue is about $5 billion that Congress allocated for three
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The Washington Post, April 15, 2022, Black, Latino communities have a higher level of oil drilling and pollution Majority Black and Latino communities that received the worst grades under a racially discriminatory federal housing program known as redlining have nearly twice as many oil drilling wells as mostly White communities, a new study says. The
MarketWatch, April 6, 2022, Disney’s latest Florida attraction: Affordable housing Walt Disney World is setting aside roughly 80 acres on its property for a new affordable-housing development. The resort expects that the development will include more than 1,300 housing units, and it will be constructed by a third-party developer.
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American Banker, April 5, 2022, Banks change their tack in navigating the culture war After years of mounting concern over the politicization of American finance, the banking industry appears to be making a quiet retreat from the culture war trenches. Not historically known for their social activism, prominent bankers had grown more comfortable taking political
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American Banker, April 4, 2022, Federal Home Loan banks’ purpose called into question as advances drop As banks rack up record levels of deposits, the Federal Home Loan banks’ core business of providing liquidity to member institutions is drying up, leading some critics to question the institutions’ long-term viability. The lifeblood of the Home Loan
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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
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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
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
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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
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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
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