Olean Times Herald, February 1,2023, Community Bank to close Portville branch A letter dated Jan. 25 to customers indicates that the Portville branch at 7 N. Union St. will close April 23, citing consolidated services with other branches. Customers were referred to the North Union Street branch in Olean, the branch office in Bolivar or […]
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The Alpine News, February 2, 2023, Decent customer service: Can we still bank on it? The consolidation of banking began in the 1980s. What then numbered 18,000, was just under 5,000 by 2021, according to the National Community Reinvestment Coalition. Impacting us locally, from 2017 to 2021 PNC Bank closed 418 locations and Huntington Bank
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Market Watch, February 4, 2023, Why It’s So Hard For Black Americans To Save For Retirement — And How The Pandemic Escalated The Racial Wealth Gap “If you have very low levels of income, you have less discretionary income, and that means you have most of your money going to immediate needs: food, shelter, clothing,
Front Porch, February 1, 2023, Front Porch: Gentrification Patterns in NE Denver The soaring home values and increasing rent prices that Denver experienced over the last decade has facilitated a pattern of neighborhoods being gentrified and residents being displaced. A study from the National Community Reinvestment Coalition revealed that 27 percent of Denver neighborhoods are
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Al DÃa, January 31, 2023, Al DÃa: NALCAB announces list of 2023 Pete Garcia Fellowship members The National Association for Community Asset Builders (NALCAB) has announced the names of the 2023 cohort for the Pete Garcia Community Economic Development Fellowship program, marking 13 years of training up and coming Latino nonprofit leaders. The Fellowship comprises
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American Banker, January 30, 2023, BankThink There’s A Surprising Risk Lurking In The Details Of Bank Mergers Big mergers don’t get approved today without big Community Benefit Agreements. Big as in $100 billion in the recent U.S. Bank deal, $88 billion with PNC, and likely over $100 billion on the pending TD Bank-First Horizon merger.
The Wall Street Journal, February 6, 2023, Banks are Hemorrhaging Deposits at Record Rate U.S. banks shed $206 billion in deposits in the third quarter, the second biggest decline on record. That extended the second quarter’s $370 billion decline and marked the first consecutive quarterly declines since 2010, according to the most recently available FDIC data back to 1984.
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The Birmingham Times, February 1, 2023, Bob Dickerson: Closing the Racial Wealth Gap We’ve heard the term closing the racial wealth gap throughout the past quarter century. Conversations and strategies to accomplish the feat have intensified over the past few years. Events like the murder of George Floyd, literary pieces like the 1619 Project, the
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Huffpost, February 6, 2023, Why Rival Sides In The Housing Crisis Plaguing Major U.S. Cities Are Considering Peace Amid growing concern over the lack of affordable housing in major U.S. metropolitan areas, a movement of college-educated young professionals has arisen to challenge local resistance to liberalizing zoning laws that prevent the construction of more housing.
The New York Times, February 1, 2023, The Next Retirement Communities Won’t Be Just for Seniors New developments that integrate senior housing into age-diverse apartment buildings offer a more affordable alternative to isolated suburban retirement communities.
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Politico, February 1, 2023, Biden to remake economic team with Brainard, Bernstein poised for top roles President Joe Biden is poised to shake up his leadership team with two veteran economic minds likely to assume new roles just as he faces his best chance yet to avoid a recession that could derail his reelection effort.
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American Banker, February 1, 2023, American Banker: CFPB will cut credit card late fees to $8 The Consumer Financial Protection Bureau plans to cut credit card late fees to $8, wiping out up to $9 billion a year in fees that have become highly profitable for banks and credit card companies. CFPB Director Rohit Chopra
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The New York Times, January 31, 2023, The Police Cannot Be a Law Unto Themselves In 2020, during the weeks of protest and civil unrest that followed the murder of George Floyd at the hands of a Minneapolis police officer, I argued that the problem of police violence and misconduct was a problem of democracy. And this week, in
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Bloomberg, January 29,2023, Wall Street Is Losing Out to Amateur Buyers in the Housing Slump In this slice of the Sonoran Desert, the roles of vulture and carrion have suddenly reversed. First-time buyers and small investors have the upper hand on supposedly sophisticated players that badly misjudged the market. It’s quite a turnabout. More than
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Forbes, January 27, 2023, Ending Affirmative Action Would Be A Terrible Mistake Just as with the rash Dobbs decision, it would be a terrible and partisan mistake to end affirmative action because its absence would generate profound consequences beyond the universities where the fight is playing out. Ending affirmative action will only compound the many lingering and
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