In the News

Bankrate, August 16, 2022, What are Hispanic American-owned banks and how can you support them? While the federal government prohibited redlining in 1968 with the Fair Housing Act, its effects are still felt today. Nearly three-quarters (74%) of areas that were redlined — discriminated against by lenders — are low-to-moderate income today, according to a study […]

American Banker, August 8, 2022, Banks hint at legal challenges to CRA rewrite The National Community Reinvestment Coalition asks that the CRA explicitly consider bank activity by race or ethnicity — a request that would be legally tricky. The bank regulators’ proposal sidesteps this issue by calling for large banks to disclose the racial and

ecoRI News, August 8, 2022, Mind the Gap: R.I.’s Affordable Housing Stock Fails to Meet Need A 2018 study by the National Community Reinvestment Coalition examined how neighborhoods were evaluated for lending risk by the HOLC, and compares their recent social and economic conditions with city-level measures of segregation and economic inequality. The study revealed:

E&E News, August 5, 2022, Anti-redlining law could soon account for climate change “It’s really intended to redress a whole history of disinvestment,” said Jesse Van Tol, the president and CEO of the National Community Reinvestment Coalition, which advocates for lenders to invest more in low-income communities. “The reinvestment part of CRA comes in because

Politico, August 9, 2022, Deflating expectations In public comments on proposed changes to the Community Reinvestment Act, a law aimed at combating racism in lending, groups are pushing the Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. to expand the list of climate-related activities that banks can get credit

Bloomberg Law, August 9, 2022, Banks Fear Top Grades Out of Reach in Community Lending Rewrite Around 90% of banks receive a satisfactory grade and another 10% get outstanding grades, according to a comment letter from the National Community Reinvestment Coalition, an organization that advocates for fairness in lending. The law would be more effective

Green Sheet, July 29, 2022, U.S. Faster Payments Council issues new report The U.S. Faster Payments Council (FPC), a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, today published a new industry resource, Faster Payments and Financial Inclusion white paper. Sponsored by PSCU, the FPC Financial Inclusion Work Group developed

American Banker, July 26, 2022, Democrats revive bill to extend anti-discrimination law to bank customers of color The bill, the Fair Access to Financial Services Act, was first introduced in 2020 when the Senate was under Republican control. If passed, it would entitle “all persons” to the “full and equal enjoyment of the goods, services,

The Corvallis Advocate, July 31, 2022, Wyden, Merkley Reintroduce Bill Prohibiting Discrimination in Financial Institutions The bill has been endorsed by the National Urban League, the Leadership Conference on Civil and Human Rights, the Center for Responsible Lending, the National Community Reinvestment Coalition, UnidosUS, the National Consumer Law Center, and the Lawyers’ Committee for Civil

WisPolitics, July 27, 2022, U.S. Sen. Baldwin: Cosponsors legislation to fight discrimination from financial institutions Today, Senator Tammy Baldwin (D-WI) joined in introducing the Fair Access to Financial Services Act, a bill led by Senator Sherrod Brown (D-OH) to prohibit banks and other financial institutions from discrimination in providing goods or services on the basis of race, color, religion,

Portland Business Journal, July 20, 2022, Merging Northwest banks adopt $8.1 billion plan for underserved communities The plan, coordinated with the National Community Reinvestment Coalition, is subject to a planned merger and covers Jan. 1, 2023 through Dec. 31, 2027. It includes $3 billion to advance homeownership initiatives.

CityBiz, July 27, 2022, PNC Bank Launches Community Advisory Council With 17 New Members Appointed PNC Bank announced the formation of a new national Community Advisory Council (CAC) with the appointment of 17 members, who will provide ongoing guidance for the Bank’s community lending, investment, and service efforts in support of PNC’s four-year Community Benefits Plan.

National Mortgage News, July 29, 2022, 6 legal disputes for mortgage professionals to watch Movement Mortgage agreed to pay $75,000 to settle claims that a loan officer with the firm twice engaged in discriminatory practices. The complaints, filed by the National Community Reinvestment Coalition with the Department of Housing and Urban Development, claimed that Seattle-based

Denver7 360, July 12, 2022, Homelessness in Denver: An in-depth look into an ongoing crisis To illustrate how just much housing plays a part when it comes to homelessness, the MDHI report uses statistics from the National Community Reinvestment Coalition, which show Denver ranked second as the most gentrified city in the U.S. from 2013-2017,

BBC News, July 10, 2022, America’s race gap between black and white homeowners Ms Cox has the means to buy the $310,000 property she wants in Miami without a loan but her application was going nowhere fast. The bank questioned her income, requested additional bank statements and demanded she restart the process due to filing