In the News

Axios Philadelphia, December 15, 2022, Mortgage lender accused of underserving Black homebuyers in Philly Why it matters:Philadelphia is still reckoning with a long history of discriminatory policies that made it more difficult for Black applicants to access mortgages, compared to their white counterparts. The other side: KeyBank said in a statement that it “strongly disagrees” with the NCRC’s […]

American Banker, January 12, 2023, Community reinvestment group plans to put KeyBank’s regulators on notice One month after releasing a highly critical report about KeyBank’s mortgage lending record to Black borrowers, the National Community Reinvestment Coalition is taking its concerns to regulators. The fair-lending advocacy group says it is planning to send letters this quarter

County 10, January 10, 2022, ‘Ingrained and embedded’: Seminar spotlights institutional racism in systems, communities, individuals The facilitator used stories, multiple videos, and group activities to illustrate how institutional racism is “ingrained and embedded” into daily life in the United States, creating “inequitable opportunities and outcomes” in the workplace, the housing market, healthcare settings, education, and more.

Greenville News, January 11, 2023, Key findings from The Cost of Unity, a series on the displacement of Black Greenville Over the last 30 years, thousands of affluent white people moved into Southernside, West Greenville and other historically Black neighborhoods, raising property values and pushing out less affluent Black people. A 2020 report from the National

Patch, January 4, 2022, Washington, DC: Mayor Bowser Announces Key Appointments? Colleen Green is appointed Acting Director of the Department of Housing and Community Development (DHCD). Director Green has significant experience in finance, real estate, advisory services, operations, strategic planning, and business development. She has worked for both for-profit and nonprofit housing development organizations and

The Washington Business Journal, December 27, 2022, D.C.-based NCRC Community Development Fund using AI to increase lending capacity NCRC Community Development Fund, a subsidiary of the National Community Reinvestment Coalition, lends primarily to Black, Latino, women and immigrant entrepreneurs and business owners throughout the country. Its new lending platform – for which it is also

The Ascent, December 21, 2022, Major Mortgage Lender Is Accused of Discrimination KeyBank is said to have underserved Black borrowers in the Philadelphia region, according to a new report from the National Community Reinvestment Coalition. Last year, only 2.2% of the more than 1,2000 mortgages it approved in that area went to Black borrowers. By

Times of News, December 28, 2022, Review of RBC’s $13.5B takeover of HSBC Canada shows limits to system: critics BMO set out its benefits plan in late November, outlining more than $40 billion in lending commitments to low and moderate-income households, minorities, small businesses, and community development opportunities. TD is also working through its own

The Billy Penn Newsletter, December 28, 2022, What will Philly’s mayoral candidates do about gentrification? Here’s what they said By the start of the 2010s, Philadelphia was one of the seven most gentrified cities in the country, per a study by the National Community Reinvestment Coalition. “Gentrification is our number one problem,” longtime Point Breeze

Small Business Trends, December 26, 2022, A Different Kind of Lender Can Get You the Loan You Need On The Small Business Radio Show this week, Eleni Delimpaltadaki Janis founded Equivico at the nexus of smart investments and social justice. Her organization provides loans for small businesses starting at 2.5%. She believes that social equity and economic inclusion is a lens

Wusa9, January 2, 2023, ‘Now is the time to be bold’ | Muriel Bowser sworn in for historic 3rd term as DC Mayor “Our population crested 700,000, we created an 800,000-job economy, we had a record number of visitors coming to DC each and every year, we drove down unemployment in 7 and 8, we

Tap Into Plainfield, December 26, 2022, Advocacy Group Asks Feds to Require Racial Equity Promises from Banks Before Merger When a bank partakes in illegal redlining, they are withholding loans from people simply because they live in a low income community, and are deemed riskier, a practice that results in neighborhoods that not only suffer

Credit Union National Association, December 19, 2022, Sudden HMDA rule changes require reasonable transition period Credit unions and other financial institutions need a reasonable transition period to comply with sudden changes in the 2020 Home Mortgage Disclosure Act (HMDA) final rule, CUNA and other trades wrote to Federal Financial Institution Examination Council member agencies. CUNA’s

Bloomberg, December 19, 2022, Big US Banks Fall Short on Promises to Create Black Homeowners Wells Fargo & Co., once the nation’s biggest home lender, has held mortgages on six houses on the block in recent decades, according to those records. Bank of America Corp. had five and JPMorgan Chase & Co. one. Today, those