In the News

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

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