NCRC

American Banker, February 4, 2022, Message to FDIC’s new leaders: Crack down on ‘rent a bank’ loans Consumers advocates are asking new leaders at the Federal Deposit Insurance Corp. to cut off partnerships between banks and fintechs that result in borrowers paying annual interest rates as high as 225%. Fifteen consumer groups called for the […]

Newsday, January 27, 2022, NYCB pledges $28 billion for minority, low-income programs pending Flagstar merger New York Community Bancorp Inc., whose merger with a Michigan thrift remains stalled by regulators, has pledged $28 billion in loans and other programs to benefit minority and low-and-moderate income families and businesses. The five-year Community Pledge Agreement hinges on

San Francisco Chronicle, January 24, 2022, Who did the Bay Area’s COVID housing boom leave behind? As the early waves of the COVID-19 pandemic upended life in the Bay Area, an unexpected housing boom emerged, shattering price records from Wine Country to Oakland to the Silicon Valley suburbs. But a new report by the National Community Reinvestment Coalition suggests

Nonprofit Quarterly, January 26, 2022, Goodbye “Race Neutrality”—The Case for Race-Conscious Economic Policy Making a meaningful dent in the level of structural racial economic inequality in this country requires change throughout the US finance system—in our financial regulations, within our financial institutions, and in the lending and investments done by financial institutions. Many of the

U.S. Department of Housing and Urban Development, January 24, 2022, HUD Awards More Than $51 Million In Grants to Support Housing Counseling Programs, Partnership With Minority Serving Institutions, and Training The U.S. Department of Housing and Urban Development (HUD) on Monday awarded $51.4 million in housing counseling grants to 177 HUD-approved housing counseling agencies and intermediary

Politico, January 24, 2022, ‘Big shift’: Biden moves to rewrite the rules on climate threat The nation’s top financial regulators will soon embark on a controversial, first-of-its-kind mission: forcing banks and other industry players to prepare for potential threats to the U.S. financial system from climate change. Now, Democrats will have the pen to update

American Banker, January 24, 2022, New York Community unveils investment plan tied to Flagstar deal New York Community Bancorp has reached an agreement with a key community advocacy group as it seeks to pave the way for approval of its merger with Flagstar Bancorp. Under the deal with the National Community Reinvestment Coalition, New York

St. Louis American, January 21, 2022, Protest over Jefferson Bank merger yields new branches Illinois-based First Mid Bank & Trust has agreed to operational improvements, including making small business loan subsidies and establishing branches in underserved areas, in response to criticism that threatened to derail its proposed merger with Jefferson Bank and Trust. Advocacy groups,

CVS Health: January 21, 2022, CVS Health to invest $6.5 million in affordable housing in Denver CVS Health® (NYSE: CVS) today announced it will invest $6.5 million with Boston Financial Investment Management to build a 36-unit permanent supportive housing community, known as Charity’s House Place, for individuals experiencing homelessness and people with physical, intellectual, and/or developmental disabilities in the

American Banker, January 21, 2022, BankThink Stop asking borrowers if they’ve ‘ever’ been charged with a crime A National Community Reinvestment Coalition evaluation of small-business loan applications from a sample of seven banks in Washington, D.C., revealed that some lenders discriminate against applicants who have been charged at any time in their lives with a

CDFI Coalition: January 5, 2021, Testimony of John Holdsclaw IV, Executive Vice President, National Cooperative Bank and President, CDFI Coalition before the Subcommittee on Housing and Community Development of the Senate Committee on Banking, Housing, and Urban Affairs, Exploring How Community Development Financial Institutions Support Underserved Communities My name is John Holdsclaw, IV, President of