The proposed merger between BB&T and SunTrust Banks cleared another hurdle Wednesday as lawmakers questioning the companies’ chief executives showed little interest in slowing the deal.
SunTrust and BB&T’s $60 billion merger, which would create the country’s sixth-largest bank, will face its biggest test yet Wednesday when the banks’ CEOs face off against skeptics in the House.
Communities in western Montgomery County that are home to low- and moderate-income potential borrowers for mortgage loans, small businesses with revenues of less than $1 million and selected non-profit organizations all are among those who may benefit from a three-year, $60 billion lending fund being assembled by two banks planning to merge this fall.
More than 50 years after the Fair Housing Act of 1968 outlawed housing discrimination on the basis of race, sex, national origin and religion, segregation persists in some of America’s largest cities.
“We use and celebrate the $60 billion number because it is a way for people to understand that this is a big deal, this is significant,” Van Tol said. “But the quality is the more significant thing. Our whole process is aimed at meaningful commitments.”
NBC, July 9, 2019: As McConnell’s family shows, the legacy of slavery persists in most American lives When Mitch McConnell confirmed Tuesday that his ancestors had owned slaves, he didn’t say whether he was surprised to learn about it from an NBC News report the day before. But historians, economists and other scholars say that few Americans should […]
Banks could start earning CRA credit for the assistance they provide to communities in the event of natural disasters.
Washington, D.C., has been declared the most gentrified city in the country, according to a study by the National Community Reinvestment Coalition. Beyond the more than 20,000 Black D.C. residents who have actively been displaced since 2000, drastic increases in commercial rent and property taxes are also forcing long-loved Black-owned businesses to close their doors.
The racial wealth divide that exists in the U.S. isn’t accidental.