In the News

Government Executive, December 7, 2021, Coronavirus Roundup: More Republican Opposition to Vaccine Rules; HHS Touts High Employee Vaccination Rates Last week, a pop-up shop, featuring goods from local women-owned small businesses, funded through a CARES Act grant from the Small Business Administration, opened in Union Station in Washington, D.C. This is a collaboration between the D.C. […]

Housing Wire, December 7, 2021, HUD Ends Silence on Targeted Lending Programs The Department of Housing and Urban Development (HUD) on Tuesday resolved uncertainty around special purpose credit programs, 45 years after Congress allowed lenders to tailor products to groups that have historically been excluded from homeownership. “This was low-hanging fruit,” said Brad Blower, general counsel of

HillRag, December 6, 2021, Opinion: Ward 6 Councilmember Risks Prolonging Homelessness And Displacement Ward 6 Councilmember Charles Allen new tax measure will provide new revenue for permanent housing opportunities to potentially end homelessness in DC, but first, it requires eviction from homeless camps. DC’s Ward 6 has the “most intense displacement” in the “most intensely

Muncie Journal, December 8, 2021, First Merchants Releases Its First Comprehensive Corporate Social Responsibility Publication Today, First Merchants Bank emphasized its focus on local communities with the publication of its first corporate social responsibility report, “Elevating Communities.” The release emphasizes the bank’s commitment to making long-lasting change across all its communities and meaningful, positive difference

5280, December 2, 2021, Adult Entertainment is Building a Community for Black And Brown Denverites Affectionately called Adult Ent, the company’s clothing line is a reflection of Denver’s street culture, says owner Torrance “Pastor Pines” Green. The challenges Pines faced to secure a permanent storefront in Five Points, Denver’s historically Black neighborhood that’s seen rapid

Portland Business Journal, December 1, 2021, Opinion: Branch Deserts Created By Bank Closures Leave Oregonians High And Dry Banking deserts are emerging in communities across the nation, requiring people living in primarily lower-income and minority areas to travel long distances to access in-person financial services, according to a recent report by the National Community Reinvestment Coalition (NCRC).

OPB, December 1, 2021, Nyssa, Oregon, is Losing Its Last Bank Banks are closing branches nationwide. But what happens when that branch is the last in town? Nyssa’s lone bank is slated to close in January. On OPB’s broadcast, Jim Maret, city manager of Nyssa and Jason Richardson, director of research and evaluation for the National Community Reinvestment

PYMNTS, December 1, 2021, LendingClub on the Benefits and Potential Pitfalls of Automated Lending Automation has brought speed and convenience, but it also has introduced potential pitfalls. In the past, minorities or other disadvantaged groups may have faced prejudicial decisions from loan officers. Now, lenders face the challenge of ensuring their algorithms do not inadvertently

The Centre for Public Integrity, December 1, 2021, Six Lessons From The Paycheck Protection Program The pandemic aid for small businesses exposed many of the cracks in an unequal system. To find out how well the PPP was reaching communities of color compared with largely white areas, journalists and academics had to sue the SBA. And

CU Today, November 29, 2021, One Forecast on the Likelihood of Congressional Hearings on NCUA, Credit Reporting Industry Per CU Today, the Independent Community Bankers of America, the American Bankers Association and the National Community Reinvestment Coalition have sent a  joint letter calling on Congress to schedule an oversight hearing for the National Credit Union Administration.

The Wall Street Journal, November 26, 2021, Brainard’s Nomination Promotes a Close Powell Ally on Recent Fed Innovations President Biden’s decision to nominate Lael Brainard to become Federal Reserve vice chairwoman elevates a veteran policy maker and economist who has been a strong ally of Chairman Jerome Powell on the central bank’s boldest policy decisions

Washington Credit Union Daily, November 23, 2021, Community Coalition Joins Banks In Blasting Credit Unions “Credit unions are not held accountable to fulfill community reinvestment activities, creating a regulatory inconsistency between banks and credit unions, even though both take deposits and should thus have similar requirements to meet needs and conveniences of the communities where

Advisor News, November 19, 2021, Sen. Brown: Saule Omarova Is Eminently Qualified To Lead OCC Sen. Sherrod Brown, D-Ohio, chairman of the Senate Banking, Housing and Urban Affairs Committee, said in a statement: Saule Omarova is one of the most qualified nominees ever for this job. Some Republican Senators have pointed to her Soviet education as indication of her

ABA Banking Journal, November 19, 2021, NCUA Approves Field Of Membership Rule The National Credit Union Administration unanimously approved—with changes—a final rule expanding field of membership requirements for multiple common bond federal credit unions. The final rule did not include some of the most controversial elements of the proposal, which the American Bankers Association opposed.  Previously, the ABA

POLITICO, November 22, 2021, Biden’s Winding Road To Filling Key Posts Frustrates Supporters The contentious nomination hearing for Cornell Law Professor Saule Omarova left administration friends and foes alike wondering, “What is going on at the White House with financial nominations?” Republicans are vehemently opposed to Omarova’s nomination, with some pointing to her background growing up in