In the News

PR Newswire, June 2, 2022, OnPoint Community Credit Union Celebrates Anniversary of Its Largest Branch Expansion with Special Member Promotions As financial institutions continue to close, “branch deserts” have emerged in lower-income and minority communities, requiring residents to travel long distances to access in-person financial services, according to the National Community Reinvestment Coalition (NCRC).

Boston Business Journal, June 3, 2022, Supporting the Engine of Small Businesses Small businesses are an engine to create financial sustainability and economic mobility, which can build wealth. However, wealth creation through business ownership is far less likely for Black and Latinx owners. The National Community Reinvestment Coalition has found that this is in large

The Daily Illini, June 4, 2022, Predictive policing models encode problematic assumptions According to a report by the advocacy group National Community Reinvestment Coalition, 74% of the neighborhoods the HOLC marked as high-risk or “hazardous” are now low-to-moderate income and nearly 64% are minority neighborhoods. Even with directly identifying information removed from consideration, characteristics like

National Mortgage News, June 3, 2022, Movement Mortgage agrees to resolve discrimination claims In October, the National Community Reinvestment Coalition filed a complaint with the Department of Housing and Urban Development, claiming a Movement loan officer engaged in discriminatory practices in two separate testing scenarios conducted months apart by the Washington, D.C.-based nonprofit. In each

Housing Wire, June 2, 2022, HUD dings Movement Mortgage for alleged fair housing violations Movement Mortgage will pay $75,000 to resolve allegations of racial discrimination, in violation of the Fair Housing Act, identified by undercover testers from the National Community Reinvestment Coalition. “NCRC’s testing data showed that Movement Mortgage agents engage and facilitate an inviting

CNBC, June 1, 2022, If your local bank branch has closed for good, you’re not alone — here’s what you can do While this trend is widespread, it’s been hitting low-income and majority-minority communities even harder. According to the National Community Reinvestment Coalition, one-third of the branches closed from 2017 to 2021 occurred in areas

Bloomberg, June 1, 2022, Oakland A’s Clash With Shipping Industry Over Waterfront Ballpark Indeed, housing affordability and displacement concerns loom large in Oakland: The Bay Area is ranked as the most gentrified region in the US, according to a 2020 study from the National Community Reinvestment Coalition. Kaval says the team is setting aside $50 million for

The Regulatory Review, May 31, 2022, Increasing Access to Credit in Communities of Color Research from the National Community Reinvestment Coalition and Relman Colfax PLLC provides an in-depth analysis of the constitutional authorities allowing federal regulators to embed race-conscious evaluations in CRA regulations. There are numerous ways in which the CRA can and should be

The Center for Public Integrity, May 27, 2022, Rethinking what fair banking means In the 1930s, redlining maps created by the Home Owners Loan Corp. color-coded neighborhoods based on race, class, ethnicity, housing conditions or proximity to pollution sources. The Federal Housing Administration and the Veterans Administration followed similar practices. Generations of disinvestment followed. “Those

HuffPost, May 27, 2022, Is A Recession Coming In The U.S.? Here’s What Experts Say. Christelle Khalaf, associate director of the Center for Business and Economic Analysis at the University of Wyoming, said it was worth considering that policies implemented during the pandemic to support families may not have been anticipated to cause inflation. Dedrick

KCRG, May 24, 2022, The Black homeownership gap in Cedar Rapids According to the 2020 National Community Reinvestment Coalition Home Mortgage Report, home loan originations to majority-minority neighborhoods declined to 18.5% in that year from 19.1% just two years prior. According to the NCRC report data, a significant percentage of loan paperwork has lacked race

Bloomberg Law, May 24, 2022, Bank Mergers Face More Public Hearings, Scrutiny Under Biden Public hearings are set to become a more common feature in big bank merger reviews, allowing community groups and regulators to seek changes and conditions before deal approvals. Public merger hearings also provide insight into what bank regulators are thinking about

Sustainability HQ, May 20, 2022, Investing in Communities: KeyBank Exceeds Community Benefits Plan Financial Commitments To ensure our plan continues to best serve our communities, we worked with the National Community Reinvestment Coalition (NCRC) to gather community feedback throughout our footprint. Key and the NCRC hosted seven community listening sessions in 2021 to learn what

WORT FM, May 18, 2022, Asante-Muhammad Warns: Crypto Is Not The Answer The depreciation-adjusted average wealth of Blacks in the U.S. is around $9000, while the average wealth of Whites is $150,000. Cryptocurrency has been touted by some as the “savior for the Black economy”, but in his latest article, “Crypto Is a Risky Bet

Nasdaq, May 18, 2022, Mitsubishi UFJ’s (MUFG) U.S. Banking Arm Divesture Faces Delay Earlier this month, U.S. Bancorp announced a five-year community benefits plan to build and support equitable access to capital for the communities it serves as part of the planned acquisition of MUFG Union Bank. The plan was developed in coordination with the