In the News

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

Local News Matter, May 10, 2022, Are Santa Clara County’s American Indians disappearing? The 2020 census shows a 20% decrease in American Indians across Santa Clara County, perplexing city officials and fueling advocates’ concerns. American Indians across the United States have the highest poverty rate among all minority groups. In 2018, the poverty rate among

Forbes, May 10, 2022, Bridging The Gap: Why Clinical Trials Have A Diversity Problem And How To Fix It One’s geography alone can be a huge indicator of what your health journey might look like. According to the National Community Reinvestment Coalition, up to 60% of your health is determined by your zip code. This is

Directionsmag.com, May 11, 2022, Understanding Redlining in America through GIS If you live in the United States, it’s likely that you live in an area that was highly segregated by race and economic status in the early 20th century. Neighborhoods have become more diverse since the 1900s, but the original composition of neighborhoods can be

Star Tribune, May 9, 2022, US Bank announces $100 billion community plan in merger with MUFG The company’s counterparts in developing the plan were the National Community Reinvestment Coalition, a Washington-based nonprofit organization that negotiates with banks on such agreements, and the California Reinvestment Coalition. Jesse Van Tol, president of the National Community Reinvestment Coalition,

American Banker, May 6, 2022, Caught between bankers and activists, can the CRA reform proposal make everyone happy? Federal bank regulators moved forward on their major rewrite of the Community Reinvestment Act to wide applause from unusual bedfellows: banking trade organizations and community groups. Jesse Van Tol, CEO of the National Community Reinvestment Coalition, said

HBCU Legends, May 7, 2022, 2022 Wells Fargo Championship Provides HBCU Golfers PGA Tour, Pro-Am Opportunities HBCU golfers and area minority kids participated in a four-day event at The Wells Fargo Championship at TPC Potomac from May 2-8. The financial institution sponsored the program to expose HBCU students and golfers to a PGA Tour event

Banking Dive, May 5, 2022, Fed, OCC, FDIC issue revamped CRA proposal The Federal Reserve, Office of the Comptroller of the Currency (OCC), and Federal Deposit Insurance Corp. (FDIC) proposed a raft of updates Thursday to the Community Reinvestment Act (CRA), the 1977 law requiring banks to detail how they lend in low-income areas. The proposal wouldn’t

The Daily Californian, May 6, 2022, ‘Exclusionary and racist’: History of housing, gentrification in Berkeley Due to redlining and restrictive covenants, Black people have been prevented from receiving mortgages or loans, which has contributed to a low rate of Black home ownership today, as reported by Business Insider. Moreover, redlined areas — which are majority people

Bloomberg Law, May 5, 2022, Biden’s Bank Regulators Overhaul Low-Income Lending Rules (2) Top U.S. banking regulators unveiled an update to anti-redlining rules after scrapping Trump-era rules that were criticized for giving priority to large-scale projects over targeted investments to low-income areas. The proposal would make CRA evaluations more rigorous with new performance metrics. It

AP News, May 5, 2022, Anti-discriminatory bank law getting update for modern era The three major U.S. banking regulators said Thursday they a plan to rewrite much of the outdated regulations tied to a decades-old banking law designed to encourage lending to the poor and racial minorities in the areas where banks have branches. “It