In the News

Next City: “Mystery Shopper” Experiment Reveals Racial Gap in Small Business Lending

By NCRC / November 27, 2017 / In the News / 1 minute of reading

Earlier this year, in a large metropolitan area of the eastern United States, two men walked into the same bank branch on the same day, each at different times of the day.

They each came in with nearly identical business backgrounds and strong credit histories, and they each asked about a small business loan of $60,000-$70,000 to expand their business and to possibly hire a part-time employee. There were some key differences, like each man’s name and their company names — and their race.

Politico: Cordray to resign from CFPB, clouding future of watchdog agency

By NCRC / November 16, 2017 / In the News / 1 minute of reading

Cordray’s departure kicks off a high-stakes scramble to secure the future of the CFPB, a powerful Washington regulator that has cheered consumers and angered businesses as well as Republicans, who have accused it of overreaching. The independent bureau is the only bank regulator not led by a Trump appointee.

Next City: Three U.S. Banks Make $20 Billion Community Reinvestment Promise

By NCRC / November 15, 2017 / In the News / 1 minute of reading

Three banks in three different regions collectively promised nearly $20 billion in home mortgages, small business loans, community development financing, and charitable contributions, as part of negotiations that included hundreds of community-based organizations in each region that were completed over the past month.

American Banker: Acquisitive Iberiabank in La. creates $6.7B community investment plan

By NCRC / November 9, 2017 / In the News / 1 minute of reading

The $22 billion-asset company, which has been an aggressive acquirer in recent months, said in a press release last week that it had worked with the National Community Reinvestment Coalition on the five-year plan.

Nonprofit Quarterly: IberiaBank pledges $6.72 billion for low- and moderate-income communities.

By NCRC / November 9, 2017 / In the News / 1 minute of reading

IberiaBank pledges $6.72 billion over the next five years to provide loans and services for low- and moderate-income communities.

Meltdown: The Financial Crisis, Consumer Protection, and the Road Forward

By NCRC / November 6, 2017 / In the News / 1 minute of reading

Kirsch’s and Squires’ book could best be described as a documentary-style political economy of the financial crisis and subsequent policy responses. They describe the genesis of the idea for the Consumer Financial Protection Bureau

Boston Globe: Santander and NCRC announce $11 billion agreement

By NCRC / October 31, 2017 / In the News / 1 minute of reading

Boston Globe, October 30th, 2017: Santander Bank executives on Monday unveil an $11 billion, five-year pledge for community investments across the company’s eight-state footprint

Battle against banking deserts in Baltimore

By NCRC / October 23, 2017 / In the News / 1 minute of reading

Baltimore Brew, October 23, 2017: One branch’s closure sparks a battle against “banking deserts” in Baltimore

The Community Reinvestment Act at 40: A Careful Review of the Reviews

By NCRC / September 15, 2017 / In the News / 1 minute of reading

Every so often, an effort is made to collect articles by leading practitioners, community organizations, and academics about the effectiveness of the Community Reinvestment Act (CRA). With a new administration planning changes to banking policy, including a review of CRA, this publication is timely.

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