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In the News

Links to media coverage of NCRC.
To request an interview with NCRC experts, send a note to: media@ncrc.org.

Building Indiana Business: First Financial Bank And NCRC Announce $2.4B Community Benefits Agreement

Building Indiana Business, March 3, 2024, First Financial Bank And NCRC Announce $2.4B Community Benefits Agreement First Financial Bank has entered into a new $2.4 billion, five-year Community Benefits Agreement (CBA) with the National Community Reinvestment Coalition (NCRC) and related partner organizations, establishing goals for lending and investments to low- and moderate-income (LMI) clients and census […]

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Jacobin: Credit Card Lenders Are Getting Rich Off Your Late Fees

Jacobin, March 6, 2024, Credit Card Lenders Are Getting Rich Off Your Late Fees “It is very difficult to imagine how federal regulators could allow Capital One to buy Discover given the requirement that mergers benefit the public as well as insiders,” said Jesse Van Tol, the president of the National Community Reinvestment Coalition, in a

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The Guardian: Capital One And Discover Merger ‘Dangerous’, Consumer Groups Tell Fed

The Guardian, March 6, 2024, “Capital One And Discover Merger ‘Dangerous’, Consumer Groups Tell Fed“ But Jesse Van Tol, president and CEO of National Community Reinvestment Coalition, another signatory to the letter, said: “Capital One is a notorious bad actor, even at its current size, and should not be allowed to further concentrate market power.”

The Guardian: Capital One And Discover Merger ‘Dangerous’, Consumer Groups Tell Fed Read More »

The Washington Post: Congress Can Pass Reparations Now To Fix This 150-Year-Old Injustice

The Washington Post, February 22, 2024, Congress Can Pass Reparations Now To Fix This 150-Year-Old Injustice Jesse Van Tol is president and CEO of the National Community Reinvestment Coalition, an organization promoting racial economic justice policy. Should the US government pay reparations for slavery? That question dominates the long-running discussion about righting centuries of wrongs committed

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The American Prospect: Capital One–Discover Merger Tests Bank Regulators’ Merger ApproachThe American Prospect:

The American Prospect, February 22, 2024, Capital One–Discover Merger Tests Bank Regulators’ Merger Approach Already, several advocacy groups have come out against the merger proposal, including the National Community Reinvestment Coalition, which has fought Capital One in particular for several years. Sen. Josh Hawley (R-MO) said on Wednesday that the deal should be blocked, joining Sen. Elizabeth Warren,

The American Prospect: Capital One–Discover Merger Tests Bank Regulators’ Merger ApproachThe American Prospect: Read More »

NBC: Capital One-Discover Merger Could Put A Bigger Squeeze On Credit Card Users, Experts Warn

NBC, February 20, 2024, Discover Merger Could Put A Bigger Squeeze On Credit Card Users, Experts Warn The National Community Reinvestment Coalition, an advocacy group that looks to funnel private investment into underserved communities, also wasted no time criticizing the merger. “It is very difficult to imagine how federal regulators could allow Capital One to

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American Banker: 5 Key Drivers Of The Capital One-Discover Merger

American Banker, February 20, 2024, 5 Key Drivers Of The Capital One-Discover Merger The deal is subject to regulatory approval and it’s already raised concern among watchdog groups like the National Community Reinvestment Coalition for its potential to combine two of the largest credit card issuers’ portfolios. But Capital One’s plan to flow a significant

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POLITICO: What’s Washington’s Appetite For Bank M&A?

POLITICO, February 20, 2024, What’s Washington’s Appetite For Bank M&A? The National Community Reinvestment Coalition said it opposes the merger. NCRC president and CEO Jesse Van Tol slammed Capital One’s record in previous deals and said the takeover would pose “massive” antitrust concerns because of the vertical integration between Cap One’s credit card lending and Discover’s card

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Reuters: Discover Financial Rises On Capital One’s $35 Billion Deal, Payment Processors Fall

Reuters, February 20, 2024, Discover Financial Rises On Capital One’s $35 Billion Deal, Payment Processors Fall The deal was opposed by Washington-based advocacy group National Community Reinvestment Coalition. “It is very difficult to imagine how federal regulators could allow Capital One to buy Discover given the requirement that mergers benefit the public as well as

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The Washington Post: Capital One To Acquire Discover For $35.3 Billion In All-Stock Deal

The Washington Post, February 20, 2024, Capital One To Acquire Discover For $35.3 Billion In All-Stock Deal Jesse Van Tol, chief executive of the National Community Reinvestment Coalition, a consumer advocacy group, predicted heavy scrutiny from regulators and community groups. “Heavy regulatory scrutiny is an understatement,” he said on social media.

The Washington Post: Capital One To Acquire Discover For $35.3 Billion In All-Stock Deal Read More »

The New York Times: Capital One To Acquire Discover, Creating A Consumer Lending Colossus

The New York Times, February 19, 2024, Capital One To Acquire Discover, Creating A Consumer Lending Colossus But consumer advocates pushed back on the possible deal, saying it posed antitrust concerns. “It is very difficult to imagine how federal regulators could allow Capital One to buy Discover given the requirement that mergers benefit the public

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AP: Capital One Will Buy Discover For $35 Billion In Deal That Combines Major US Credit Card Companies

AP, February 19, 2024, Capital One Will Buy Discover For $35 Billion In Deal That Combines Major US Credit Card Companies “The deal also poses massive anti-trust concerns, given the vertical integration of Capital One’s credit card lending with Discover’s credit card network,” said Jesse Van Tol, president and CEO of the National Community Reinvestment

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AlJazeera: US Banking Giant Capital One to Buy Discover Financial For $35.3bn

AlJazeera, February 20, 2024, US Banking Giant Capital One to Buy Discover Financial For $35.3bn Jesse Van Tol, the chief executive of the National Community Reinvestment Coalition, said the acquisition would likely raise concern among regulators, including the Federal Trade Commission and Consumer Financial Protection Bureau “Retailers might also oppose? I can’t think of [a] bank

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NPR: Why Banks Are Fighting Changes To An Anti-Redlining Program

NPR, February 15, 2024, Why Banks Are Fighting Changes To An Anti-Redlining Program MA: This is Jesse Van Tol, CEO of the National Community Reinvestment Coalition, a group that advocates for equitable housing policy. He says not only did the FHA discourage banks from lending in neighborhoods where mostly people of color lived. It also

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