In the News

American Banker, February 18, 2022, M&T, People’s United postpone merger deadline till June M&T Bank and People’s United Financial are delaying the deadline for their merger until June, as the two companies await approval from the Federal Reserve. The $7.6 billion deal, which would expand M&T’s presence in the Northeast, had an initial deadline of […]

Investopedia, February 19, 2022, The History of Lending Discrimination Laws today protect borrowers from discriminatory lending practices, but that wasn’t always the case. For decades U.S. banks denied mortgages to Black families—and those belonging to other racial and ethnic minority groups—who lived in certain areas “redlined” by a federal government agency called the Home Owners’ Loan Corporation

WTXL, February 21, 2022, Restaurants tackle gentrification and displacement in low-income areas New development in low-income neighborhoods across the country is pricing out some who have been there for years. Now businesses owners and advocates are adjusting to battle gentrification and displacement. According to a study by NCRC, gentrification and cultural displacement are problems in

Sfagte, February 21, 2022, Some majority Black and Latino Bay Area neighborhoods have more lead contamination than Flint, Michigan Oakland, which has one of the highest concentrations of children under the age of six in the Bay Area, has been fighting to escape the Bay Area’s toxic legacy: lead paint, a material that is still

Othering & Belong Institute, February 2022, The Structural Racism Remedies Repository This a repository of policy-based recommendations for addressing structural and systemic racism or advancing racial equity drawn from a vast array of published material. A complete list of sources is provided in an index at the bottom of this page, with a short-hand acronym

The Center for Public Integrity, February 17, 2022, Bank branch closure rate doubled during pandemic A new report by the National Community Reinvestment Coalition found that the monthly closure rate of bank branches doubled during the pandemic, resulting in the disappearance of over 4,000 branches from March 2020 to October 2021. Those closures hit low-to-moderate

Politico, February 17, 2022, The Fed’s sleeper risk A new analysis from the National Community Reinvestment Coalition found that more than 4,000 bank branch locations have closed since the onset of the pandemic in March 2020. That’s about 200 per month on average, which is double the rate of the previous 20 months. “The disappearance

TribLIVE, February 16, 2022, What’s the post-pandemic future of Downtown Pittsburgh development? Business districts, including Downtown Pittsburgh, were hit hard by the pandemic, with office spaces emptying out because of covid concerns and small businesses that normally serve Downtown workers closing. According to a 2019 study from the National Community Reinvestment Coalition, Downtown gentrified significantly

Lexology, February 15, 2022, Daily Financial Regulation Update  Acting Comptroller of the Currency Michael J. Hsu gave prepared remarks titled, “The Community Reinvestment Act in Perspective,” before the National Community Reinvestment Coalition, where he discussed the history of the Community Reinvestment Act (CRA). His remarks highlighted how a modernized CRA can help address persistent disparities

Regulatory Report, February 14, 2022, Joint CRA rule proposal coming soon from Fed, FDIC, OCC, acting comptroller says Hsu, in Monday’s prepared remarks for a meeting of the National Community Reinvestment Coalition (NCRC), noted that several “overarching objectives” are guiding regulators’ effort on the coming proposed update.

Regulatory News, February 14, 2022, Acting Comptroller Discusses Modernization of the Community Reinvestment Act Acting Comptroller of the Currency Michael J. Hsu today discussed the history of the Community Reinvestment Act (CRA) with the National Community Reinvestment Coalition. His remarks highlighted how a modernized CRA can help address persistent disparities and gaps in wealth and

Reasons to be Cheerful, February 4, 2022, The City Owned by Locals In South Bend, Indiana, a unique development model is putting ownership into the hands of hundreds of local residents — and giving big developers a run for their money. “Renters are more vulnerable to displacement as their communities gentrify, and unlike owners, they

BankersOnline, February 15, 2022, New CRA proposal in ‘not-too-distant future’ In remarks yesterday at a meeting of the National Community Reinvestment Coalition, Acting Comptroller of the Currency Michael J. Hsu said the OCC, Federal Reserve, and FDIC will release a joint CRA Notice of Proposed Rulemaking in “the not-too-distant future.”

Axios Philadelphia, February 16, 2022, Philadelphia’s redlining legacy persists Philadelphia is among seven cities that account for almost half of all gentrification in the country, according to a 2019 study from the National Community Reinvestment Coalition.

US PIRG, February 14, 2022, Predatory loans for puppies must be stopped, say consumer and animal welfare advocates “The FDIC needs to install a fence between TAB Bank – or any bank – and predatory puppy lenders,” said Adam Rust, Senior Policy Advisor, National Community Reinvestment Coalition. “With new leadership at the FDIC, it’s time