In the News

St. Louis American, January 21, 2022, Protest over Jefferson Bank merger yields new branches Illinois-based First Mid Bank & Trust has agreed to operational improvements, including making small business loan subsidies and establishing branches in underserved areas, in response to criticism that threatened to derail its proposed merger with Jefferson Bank and Trust. Advocacy groups, […]

CVS Health: January 21, 2022, CVS Health to invest $6.5 million in affordable housing in Denver CVS Health® (NYSE: CVS) today announced it will invest $6.5 million with Boston Financial Investment Management to build a 36-unit permanent supportive housing community, known as Charity’s House Place, for individuals experiencing homelessness and people with physical, intellectual, and/or developmental disabilities in the

American Banker, January 21, 2022, BankThink Stop asking borrowers if they’ve ‘ever’ been charged with a crime A National Community Reinvestment Coalition evaluation of small-business loan applications from a sample of seven banks in Washington, D.C., revealed that some lenders discriminate against applicants who have been charged at any time in their lives with a

CDFI Coalition: January 5, 2021, Testimony of John Holdsclaw IV, Executive Vice President, National Cooperative Bank and President, CDFI Coalition before the Subcommittee on Housing and Community Development of the Senate Committee on Banking, Housing, and Urban Affairs, Exploring How Community Development Financial Institutions Support Underserved Communities My name is John Holdsclaw, IV, President of

Markets Insider: January 20, 2022, The homeownership gap between Black and white Americans hasn’t been this wide in 100 years A 1968 law was meant to close the gap between Black and White homeowners — more than 50 years later, it’s the widest it’s ever been. That’s according to a new study by the National Community Reinvestment Coalition

National Mortgage News, January 28, 2022, Citi works with Black-owned firms on $2.5B affordable housing bond Banks are judged on their Community Reinvestment Act performance and Citi is not the only one to step up its support in this area recently. New York Community Bank entered into a deal with the National Community Reinvestment Coalition

Banking Exchange, January 26, 2022, Bank of America awards $1m to St. Petersburg college Increasingly, both regional and national banks are scaling funding capabilities to move the needle on social mobility. New York Community Bank and the National Community Reinvestment Coalition (NCRC) recently provided $28 billion in investment, loans, and other financial provision, to support

DS News, January 28, 2022, HUD names four to Housing Counseling Federal Advisory Committee The U.S. Department of Housing & Urban Development (HUD) has appointed four new members to its Housing Counseling Federal Advisory Committee. The four new members complement the Committee’s existing eight members, bringing Committee membership back to the full 12 members authorized

Apartment Therapy, January 29, 2022, This new initiative is aiming to create 3 million new Black homeowners In 2019, there were about 6.45 million Black homeowners in the United States. This put the Black homeownership rate at 42%, as low as it was in 1970. Meanwhile, the rate of white homeownership increased to 73%, according

The Charlotte Observer, February 1, 2022, Truist shutting five more branches in the Charlotte area. Is your location closing? The shift to digital banking, accelerated by the pandemic, has led many banks to reevaluate their brick-and-mortar presence. “There’s not really a sense of when banks are going to stop closing branches,” said Jason Richardson, director

Spectrum News 13, January 30, 2022, Many veterans struggle to buy homes amid stigma, misunderstandings about VA loan program As many realtors and mortgage brokers tell Spectrum News, a widespread misunderstanding about the VA loan program among sellers and agents often makes it challenging for veterans to buy homes with the loan. That’s if they

National Mortgage News, January 31, 2022, (Opinion) Analyzing FHFA’s affordable multifamily housing goals FHFA published proposed goals for each year, 2022 to 2024, in the Federal Register on August 25, 2021, with comments due by October 25, 2021. The proposed goals were generally considered challenging, with the notable exception of the proposed low-income areas goal

Patient Engagement Hit, February 1, 2022, CVS Health Invests $6.5M in Housing, Social Determinants of Health The funding, awarded in partnership with Boston Financial Investment Management, will go toward building a 36-unit affordable housing complex set to serve individuals currently experiencing houselessness and individuals with physical, intellectual and/or developmental disabilities, the two groups said. Importantly,

CT Insider, February 2, 2022, 59 more Connecticut bank branches closed in 2021, report shows A report by the National Community Reinvestment Coalition, a Washington group focused on increasing the flow of private capital into traditionally underserved communities, found that 79 bank branches closed in Connecticut between 2017 and 2020. It represented a 6.95 percent

Westword, January 19, 2022, Small Business Spotlight: Conscious Real Estate Combines Selling Houses With Philanthropy Denver’s real estate market is not just hot, it’s ablaze. But sizzling real estate markets often result in scorched neighborhoods from gentrification. In a 2020 report from the National Community Reinvestment Coalition, Denver ranks as the second-most-gentrified city in the nation, just