In the News

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

Morning Star, May 16, 2024, During AAPI Month, Financial Advice For A Poorly Understood Group Income inequality is still increasing most rapidly among Asian American groups, compared to other demographics. Wealth gaps between the poorest Asian Americans and the wealthiest Asian Americans are still wider than gaps within any other racial group in the US. Vox has an

Nonprofit Quarterly, May 8, 2024, Will New Rules For The Road Emerge For Bank Mergers? The [proposed] Capital One-Discover merger is a terrible, horrible, no good, very bad idea. Jesse Van Tol, CEO, National Community Reinvestment Coalition, conference keynote address, April 3, 2024 At NPQ, we have written from time to time about antitrust law—that is,

The California Aggie, June 11, 2024, Soaring Housing Prices Around UC Campuses Signify A Contribution To Gentrification In an article for CalMatters, Alexandra Olvera, a 2021 UC Davis first-generation and Latinx alum, described her story of struggling due to Davis’ overpriced housing after her father was deported and her mother had lost her job.  “[My family’s] income

The San Diego Voice & Viewpoint, May 21, 2024, HUD Announces $40 Million Boost for Housing Counseling Nationwide Ten California and seven Washington, D.C., agencies are set to receive a substantial boost in funding totaling nearly $11 million, aimed at expanding housing counseling services for underserved communities. Among the beneficiaries in California are A-1 Community Housing Services in Hayward,

Oregon Business, June 11, 2024, Banks Keep Shedding Branches + Power List Bank branches continue to close around the state, leaving many communities in Oregon with fewer options. Around the country, the nation’s largest banks — Bank of America, US Bank, Capital One, Wells Fargo — are rapidly closing locations. In 2023, 2,454 branches closed,

AP News, June 10, 2024, Coffee, Sculptures And Financial Advice. Banks Are Trying To Make New Branches Less Intimidating Banks such as JPMorgan Chase, Bank of America and Wells Fargo had been steadily closing branches since the 2008 financial crisis. They saw little need for their networks of thousands of physical locations when fewer Americans

Black News Portal, April 27, 2024, Breaking The Cycle: Dismantling Systemic Barriers To Minority Funding Op-Ed By J. Byron Brazier Local branches allow entrepreneurs to establish personal, trusting relationships with bankers, and those bonds can be a boon to small-business owners seeking financing. Banks consider “soft information” about business customers’ creditworthiness—qualitative data gathered over the