In the News

Crowdfund Insider, February 14, 2022, Unprecedented Inflation to Impact Financial Markets, Consumer Behavior This past week, a coalition of consumer advocates, “led by the National Community Reinvestment Coalition and the NAACP, sent a letter to the FDIC urging the regulator to crack down on banks facilitating ‘high-cost predatory lending.’” The letter highlighted state-chartered banks that […]

Office of the Comptroller of the Currency, 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

BritneyBuzz, February 13, 2022, New NCRC report affirms small businesses help maintain cultural identity of communities In a new report from the National Community Reinvestment Coalition, 10 Black business owners in historically Black neighborhoods discuss the cultural significance of small businesses and how they have been impacted by the COVID-19 pandemic. Focusing on communities in

FiveThirtyEight, February 9, 2022, The Lasting Legacy Of Redlining “[Redlining] biased where investment was made,” Bruce Mitchell, a senior analyst at the National Community Reinvestment Coalition told us, with “hazardous” areas like [Pittsburgh’s] Hill District suffering from years of neglect. Mitchell said it’s this lack of investment in formerly redlined areas that is one of

Capital and Main, February 7, 2022, Inside the Fight to Make Banks Benefit Their Communities At a time when big banks get easy approval for profitable mergers, some California community groups are saying not so fast. Dozens of them are seeking to block U.S. Bank’s bid to acquire Union Bank unless the former sets aside $90 billion for

Association of Women’s Business Centers:, February 8, 2022, Two Women’s Business Centers Create a Collective Opportunity Heidi Sheppard, Project Director at Washington, DC’s Women’s Business Center and Morgan Wortham, Managing Director at Maryland’s Women’s Business Center, saw potential in one of the many retail vacancies at Union Station. And both women recognized it as an

Creditcards.com, February 9, 2022, How to address the racial credit score gap The effects of racial discrimination are apparent in all aspects of financial life, with people of color and white people operating on two uneven playing fields. New programs like Experian Go aim to reach people who have traditionally been excluded from financial systems

Patch, February 9, 2022, Inside The Fight To Make Banks Benefit Their Communities The $8 billion merger, announced Sept. 21, 2021, would create California’s fifth largest bank, a $680 billion mega-corporation that would compete with giants like Bank of America and JPMorgan Chase. How the Biden administration responds to the merger will be a test of whether

Huffpost, February 10, 2022, Porsha Williams Shares The Black-Owned Brands She Loves Per the U.S. Department of Commerce’s Minority Business Development Agency, Black entrepreneurs in America are statistically less likely to get approved for small business loans than white entrepreneurs. Further, according to the National Community Reinvestment Coalition, Black business owners are treated inferior to white business owners when applying for

San Francisco Chronicle, February 7, 2022, 1,200 potential buyers: The Bay Area’s daunting real estate math after COVID Long term, economists warn that the severe lack of housing options could widen the gap between the wealthiest households and middle-class residents looking to put down roots, and prompt more aspiring home buyers to leave the area altogether. Concerns

American Banker, February 7, 2022, Fed, OCC set public hearing on U.S. Bank-Union Bank deal Federal regulators have granted a public hearing next month on U.S. Bancorp’s proposed acquisition of MUFG Union Bank, a win for community activists that have pushed for a chance to weigh in on the $8 billion deal. A U.S. Bank spokesperson

Bloomberg, February 4, 2022, Regulators Should Block Costly Fintech Loans, Advocates Say The Federal Deposit Insurance Corp. and other U.S. agencies need to stop banks they oversee from “engaging in high-cost predatory lending” through their work with financial-technology firms, the National Community Reinvestment Coalition, Consumer Reports, the NAACP, the Center for Responsible Lending and other groups

ABC4, February 4, 2022  Four Utah banks targeted for laundering predatory loans of up to 225% APR With the Federal Deposit Insurance Corporation (FDIC) under new leadership and following a departure from the corporation’s chair on Friday, advocates are calling for the FDIC to stop certain Utah banks from “fronting for predatory lenders.” The four

KCET, February 4, 2022, Resilience and Rebuilding: COVID-19 Recovery in South Los Angeles PPP loans do appear to have given South L.A. businesses a vital lifeline during the pandemic, but the data reveal there is more work to be done. While 38% of eligible loans made countywide were forgiven, only 29% of loans made to

The Washington Post, February 3, 2022, A Black doctor says she was refused service at a bank because of her race: ‘I felt like a criminal’ Racial discrimination in banking, a phenomenon sometimes called “banking while Black,” is a common experience in the United States. Several instances of Black people being questioned about their deposits and accused