In the News

Study Finds, September 3, 2024, Bank Bias? Highly Qualified Black Entrepreneurs Still Offered Worse Loans, Service Discussion and TakeawaysThe study’s findings underscore the persistent problem of racial discrimination in financial services and its detrimental effects on both customers and businesses. The researchers emphasize the need for a multi-faceted approach to address this issue, involving financial […]

Patch: Fair Appraisals, September 12, 2024, New Jersey Passes Housing Discrimination Law Attorney General Matthew Platkin said he supports the state’s new law as yet another way to fight back against the racial wealth gap. “Discrimination in the housing appraisal industry has prevented far too many – particularly people of color – from acquiring the

Bloomberg Law, September 19, 2024, Capital One-Discover Deal Hits Roadblock In Bank Merger Overhaul The Fed hasn’t officially changed its merger policy. But even without a formal change, the central bank may ultimately apply tougher standards than in the past, when critics say the federal banking agencies were too quick to approve deals. “Historically, the

The Conversation, September 20, 2024, Gentrification Isn’t Inevitable – It Can Hinge On How Residents View Their Neighborhood As the U.S. population becomes increasingly urban, gentrification can seem inevitable. However, scholars have found that it’s actually pretty rare. For example, a study by the nonprofit National Community Reinvestment Coalition that examined neighborhood change from 2000

The Banker, September 19, 2024, Industry Groups Criticise ‘Opaque’ US Bank M&A Rules National Community Reinvestment Coalition CEO Jesse Van Tol welcomed the move to better protect the public from “harmful mergers, as community advocates have long called for, by ensuring that the needs of everyday people are properly considered in these vital decisions”. The

Ayanna Pressley, September 25, 2024, Pressley, Green Reintroduce Bill To Strengthen Oversight Of Big Banks And Protect Consumers The bill is endorsed by Public Citizen, Americans for Financial Reform, National Community Reinvestment Coalition, American Economic Liberties Project, Fight Corporate Monopolies, California Reinvestment Coalition, Action Center on Race and the Economy, Sierra Club, Center for American

The Wright State Guardian, September 26, 2024, Rising Rent And Dorm Prices In Dayton There is no doubt rent prices are increasing for Generation Z. The National Community Reinvestment Coalition says, “On average, the study found, Gen Z-ers — born between 1994 and 2000 — will spend about $145,000 on rent by their 30th birthdays,

American Banker, September 30, 2024, Consumer Advocate, Fintechs Urge CFPB, FHFA To Adopt AI Guidance The National Community Reinvestment Coalition and four fintech companies are urging the Consumer Financial Protection Bureau and the Federal Housing Finance Agency to provide guidance on the use of machine learning and artificial intelligence in lending, which they claim would

Bloomberg Law, June 20, 2024, Banks, Consumer Groups Tell US Regulators To Unify Merger Plans Consumer advocates want the OCC to rescind Trump-era changes to the use of Community Reinvestment Act, a 1978 anti-redlining law, to inform merger reviews. “The OCC’s proposed rule does not rescind harmful changes to merger application procedures adopted during the

The Lever, June 10, 2024, How Your Life Savings Could Digitally Evaporate In 2019, the fintech market was booming, with tens of billions of dollars of investment cash flowing to startups like Synapse. Many such companies touted their new vision for the future as one of financial inclusion — targeting communities distrustful of traditional banks, and advertising no-fee banking or

The Washington Post,June 6, 2024, Biden Says Racial Wealth Gap Is Closing. The Reality Is Complicated. Jesse Van Tol, president and chief executive of the National Community Reinvestment Coalition, said Biden deserves credit for pressing banks to expand special purpose credit programs, which are meant to reduce racial disparities in lending. But he added that there

The Black Chronicle, May 30, 2024, National Report Reveals Impact Of Redlining On Home Ownership A new report from the National Community Reinvestment Coalition reveals that race-based exclusion from home ownership persists despite the Fair Housing Act, which outlawed discriminatory lending practices 55 years ago. Analyzing 40 years of home Mortgage Disclosure Act data, the study shows

Washington Informer, May 16, 2024, D.C. Agencies Among Top Beneficiaries As HUD Announces $40 Million Boost For Housing Counseling Nationwide Seven D.C. agencies are set to receive a substantial boost in funding totaling nearly $7 million, aimed at expanding housing counseling services for underserved communities.  Among the beneficiaries are Housing Counseling Services, Lydia’s House in

Fortune, May 16, 2024, An Obscure 47-Year-Old Law Designed To Right The Historic Wrongs Of Redlining Was The ‘Original ESG Framework,’ Execs Say. Just Look At How Crown Heights And Bed-Stuy Have Changed Within the finance sector, ESG might seem like a trend that’s only really caught on in the past few years—but a lesser-known

Birmingham Times, May 17, 2024, Birmingham Business Conference Raises BAR For Community Change Dozens of business and community leaders gathered Thursday at the UAB Hilton Hotel on Birmingham’s Southside for Building Alabama Reinvestment (BAR) Conference’s “Banking on Change: Uncovering Opportunities in the South.” The daylong meeting centered on conversations and collaborations with speakers and panel