American Banker, March 8, 2022, Community groups withhold support of U.S. Bank-Union Bank deal — for now Key community groups told regulators Tuesday that they aren’t yet supportive of U.S. Bancorp’s pending acquisition of MUFG Union Bank, as they engage in negotiations to establish a series of tangible public benefits. Before regulators approve any merger, […]
Banker and Tradesman, March 7, 2022, Fed Approves M&T Bank, People’s United Deal More than a year after announcing plans to acquire Connecticut-based People’s United Bank, Buffalo-based M&T bank has received the final regulatory approval needed to complete the merger. Some commenters did have concerns about the deal, including several who asked the Fed to
Banker and Tradesman: Fed Approves M&T Bank, People’s United Deal Read More »
Billionaire Club Co LLC, March 3, 2022, Community Reinvestment Act (CRA) Definition The Office of the Comptroller of the Currency in May 2020 issued a final rule to “strengthen and modernize” existing Community Reinvestment Act regulations. According to a news release, the proposed changes received more than 7,500 comments from stakeholders in response to the
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The Sunflower, March 3, 2022, OPINION: Critical race theory should be required in K-12 schools Although the Fair Housing Act of 1968 aimed to end redlining, imprints of previous policy remain prevalent. According to a study by the National Community Reinvestment Coalition, 74 percent of the redlined neighborhoods 90 years ago are low-to-moderate income neighborhoods today;
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American Banker, March 4, 2022, Fed approves M&T’s acquisition of People’s United Two weeks after delaying the deadline to close its acquisition of People’s United Financial, M&T Bank on Friday received the Federal Reserve’s approval. The central bank’s blessing, announced late Friday afternoon, was the final regulatory thumbs-up that Buffalo, New York-based M&T needed to complete the
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The Community Reinvestment Act is getting its first major overhaul since the 1990s. What should be changed, and how?
Reforming the Community Reinvestment Act to Meet 21st Century Challenges Read More »
NCRC reacts to President Joe Biden’s new Executive Order on how cryptocurrencies and other digital assets should be regulated in the future.
America’s racial reckoning must include the savage inequalities facing Native Americans.
The Nation Needs to “Reckon” With the Economic Marginalization of Native Americans Read More »
Greenlining, February 16, 2022, California Communities of Color Fall Further Behind in Mortgage Access The Greenlining Institute report, Home Lending to Communities of Color in California 2020, is an analysis of federal home mortgage data from the Home Mortgage Disclosure Act. The report, released in February 2022 shows that Black, Latino, Native American and Pacific Islander
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The New York Times, February 16, 2022, Blackstone expands further into rental housing in the United States. The private equity firm Blackstone, the largest owner of commercial real estate in the world, is expanding its portfolio of rental housing and commercial real estate in the United States. The firm announced on Wednesday that it would
The New York Times: Blackstone expands further into rental housing in the United States. Read More »
Reuters, February 15, 2022, Biden’s Fed nominees in limbo after Republican vote boycott US Senate action on President Joe Biden’s five nominees to the Federal Reserve stalled Tuesday after Republicans boycotted a key vote over objections to Sarah Bloom Raskin, the White House’s pick to be the central bank’s Wall Street regulator. Senate Banking Committee
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ABC News, February 15, 2022, Can the VA pull off its ‘monumental’ bid to end veteran homelessness? While the number of homeless vets has dropped by more than half over the last decade, an estimated 20,000 ex-service members are still without permanent housing on any given night, according to figures released this month by the Department of Housing and
ABC News: Can the VA pull off its ‘monumental’ bid to end veteran homelessness? Read More »
The Washington Post, February 13, 2022, ‘Survival mode’: Inflation falls hardest on low-income Americans While inflation is rising everywhere, price hikes are particularly devastating to lower-income households with already tight budgets. Nearly all their expenses go to necessities — food, energy, housing — which have seen some of the largest increases at different points over
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Washington Post, February 10, 2022, More cities seek to redress widespread 20th-century destruction of Black neighborhoods More than 50 years ago, Santa Monica, Calif., used eminent domain to build the Interstate 10 highway, slicing an east-west swath to the Pacific Ocean that destroyed homes, businesses and churches and displaced more than 600 mostly Black families in
NPR, February 11, 2022, California sues Tesla over alleged rampant discrimination against Black employees California’s Department of Fair Employment and Housing is suing Elon Musk’s company Tesla over racism and harassment toward Black employees at Tesla’s plant in Fremont, Calif., according to a lawsuit filed by the state this week. The company has called the
NPR: California sues Tesla over alleged rampant discrimination against Black employees Read More »
