In the News

Consumer Federation of America, March 15, 2023, FDIC Should Downgrade FinWise Bank Over Predatory ‘Rent-A-Bank’ Lending “The FDIC must hold FinWise Bank accountable for the impact its lending has on consumers,” said Adam Rust, Senior Policy Advisor of the National Community Reinvestment Coalition. “FinWise’s ‘charter-as-a-service’ model doesn’t meet the conveniences and needs of borrowers. It […]

Birmingham Business Journal, March 14, 2023, GROWTH by NCRC Unveils First New Homes In Woodlawn Community GROWTH by NCRC, the city of Birmingham and Woodlawn United unveiled the first three of 16 newly constructed homes slated to go up in the Woodlawn community. “This is a wonderful community, and we are delighted to once again

Yahoo Finance, March 13, 2023, Digital Banking Trends In 2023 Between 2017 and 2021, 9% of all branch locations closed down, a loss of around 7,500 branches, according to the nonprofit National Community Reinvestment Coalition (NCRC). A third of those closures were in low- to moderate-income or historically marginalized neighborhoods. Many of these closures were

MPA, March 13, 2023, Efforts To Reach Historically Neglected Segments Grow The quest to expand credit into historically neglected segments has been heightened in the last couple of years, with a growing list of initiatives emerging to fulfill the mission. Efforts on several fronts are underway to help expand the American Dream of homeownership to

Brookings, March 10, 2023, Forum On The future Of The Federal Home Loan Bank System Nearly a century ago, Congress created the Federal Home Loan Bank system (FHLBs) to promote home ownership and provide liquidity to thrifts (savings and loans) and insurance companies that primarily provided mortgages at that time. Today’s financial system is radically

CNBC, March 8, 2023, Biden Wants To Kill Junk Fees — Here’s What Could Change And How You Can Minimize Fees Right Now Nobody enjoys paying fees, but we mostly accept them as an unavoidable part of life. Some bills, however, are beyond the pale and have become targets for new government restrictions. But you

Senate.Gov, March 7, 2023, Cardin, Young Introduce Tax Credit To Encourage Revitalization Ff Distressed Homes Nationwide By Filling The Cost Gap U.S. Senators Ben Cardin and Todd Young have introduced legislation to revitalize housing in distressed neighborhoods in Maryland, Indiana and nationwide. Currently, private development lacks in some urban and rural areas because the cost

WBRC, March 9, 2023, City Of Birmingham, Partners Unveil New Affordable Housing In Woodlawn The City of Birmingham is living up to its promise to provide affordable homes throughout city. The first of three newly constructed homes in Woodlawn were unveiled at a ribbon-cutting ceremony Thursday morning. City leaders teamed up with GROWTH by NCRC

Birmingham Daily Journal, March 10, 2023, 16 New Homes Continue Revitalization in Birmingham’s Woodlawn Community On Thursday, Birmingham City Councilor J.T. Moore helped cut the ribbon for the first three of 16 new affordable homes coming to the Woodlawn community in Birmingham’s East Side. “As I stand here, it’s a full circle moment for me

The Washington Post, March 9, 2023, ‘Greenlining’ Heals The Historic Injustice Of Redlining The United States faces an enormous housing shortage and pricing crisis. If we want any semblance of equity in our cities, we must address this urgent need for more affordable housing, while mitigating the alienation and displacement produced by gentrification. As a

S&P Global, March 8, 2023, TD-First Horizon Back At Negotiating Table As Deal Hangs In Regulatory Purgatory Toronto-Dominion Bank is unsure when it will close its acquisition of First Horizon Corp., leaving the companies negotiating again just weeks after extending their merger agreement. At the beginning of February, TD and First Horizon agreed to extend

Cincinnati WCPO, March 3, 2023, Terry Horton Is Black. He Says His Property Was Valued $100,000 Lower Because Of His Race. Horton contacted the National Community Reinvestment Coalition (NCRC), which received a report from Cincinnati-based appraisal expert Derrick Mayes. The complaint says Mayes issued a report stating “it is our opinion that some degree of

Candy’s Dirt, March 7, 2023, Dallas Program Aims To Protect Neighborhoods Against Displacement, But Hurdles Make It Hard For Seniors The City of Dallas Housing and Homelessness Solutions Committee heard a progress report last week on the “Dallas Anti-Displacement Toolkit” from James Armstrong and Stephanie Champion of Builders of Hope. The team is building affordable homes

Insider Intelligence, March 6, 2023, Brown Asks The OCC To Hold Public Meetings In Communities Where Bank Branches Are Closing Sen. Sherrod Brown sent a letter to the Officer of the Comptroller of the Currency (OCC) asking the agency to meet with low- and moderate-income communities to talk about proposed bank branch closures in their areas. He requested