In the News

The Washington Informer, November 21, 2021, With Infrastructure Windfall Possible, D.C. Can Avoid Mistakes Of The Past Washington, D.C., could receive more than $2.5 billion in funding for highway and mass transit improvements under President Joe Biden’s $1 trillion infrastructure bill. A long history of D.C. infrastructure investments that have been spent on projects that accelerated […]

American Banker, November 18, 2021, Credit Unions Dealt Blow in Bid to Expand Membership A National Credit Union Administration proposal governing shared credit union service facilities that had attracted vocal opposition from banker and consumer groups, not to mention the agency’s own chairman, has undergone a significant rewrite that left few on either side of

The Hill, November 18, 2021, Panel to Question Controversial Biden Nominee for Top Bank Regulator President Biden’s pick to lead the Office of the Comptroller, Saule Omarova, will likely face a tough confirmation hearing in front of a Senate panel Thursday amid backlash about her views on banking, history as a scholar and her education

ABA Banking Journal, November 17, 2021, Banking, Consumer Groups Call for Oversight of NCUA In a joint letter with the Independent Community Bankers of America and the National Community Reinvestment Coalition today, the American Bankers Association urged lawmakers to schedule an oversight hearing for the National Credit Union Administration, in light of several recent NCUA rulemakings that

Los Angeles Times, November 17, 2021, Q&A: Exploring CDFI’s Role in Solving Some of Society’s Biggest Challenges Marisa Calderon, Executive Director of NCRC Community Development Fund, and Chief of Community Finance & Mobility at the National Community Reinvestment Coalition was interviewed for a discussion and shared insights on the state of CDFIs in 2021 and what is

Realtor.com, November 15, 2021, Can Telosa, a Utopian City in The Desert Founded by a Billionaire, Possibly Succeed? Marc Lore, the billionaire and former Walmart executive, has envisioned a modern utopian city, Telosa, that will run on fully renewable energy and provide all residents equal access to high quality education and health care, regardless of their

Morning Consult, November 10, 2021, The Paycheck Protection Program was Fintech’s ‘Moment to Shine.’ That Spotlight also Revealed the Problems with Those Loans Fintech companies in the PPP did a disproportionate amount of the lending among Black-owned businesses, according to the analysis. But Fintech’s work with minority communities going forward isn’t a given, policy observers

American Banker, November 15, 2021, Community Groups Demand Hearings On U.S. Bank-Union Bank Deal Community groups have begun negotiating with U.S. Bancorp over mortgage assistance and payouts to financial nonprofits under an investment deal that would grease the rails for the company’s pending acquisition of MUFG Union Bank. The California Reinvestment Coalition, the National Community

5 On Your Side, November 11, 2021, No Loans, No Growth: Mortgage Discrimination Still Happening in St. Louis Metro The St. Louis Metro is 18% black but just 5% of home loans in the past three years went to black applicants. And black families were 145% more likely to be denied a home loan than

Market Screener, November 8, 2021, PNC Bank Announces Leadership Transition for Its Community Develpment Banking Team PNC Bank today announced that Cathy Niederberger, director of Community Development Banking, will retire in early 2022, after a 25-year career with the bank. Niederberger played an integral role in developing PNC’s four-year, $88 billion Community Benefits Plan announced

Mortgage Orb, November 8, 2021, SimpleNexus Now Allows LOs To Gather Loan Information In Spanish SimpleNexus, is a homeownership platform designed for loan officers, borrowers, real estate agents and settlement agents. A new version of the platform, Nexus Bilingual, makes the loan process more accessible to prospective homebuyers by providing them with a Spanish-language purchase

Greenlining, November 3, 2021, $100 Billion In Community Benefits In 2021 The Greenlining Coalition, in partnership with the California Reinvestment Coalition and the National Community Reinvestment Coalition negotiated over $100 billion in community benefits with financial institutions directing critical resources to formerly redlined communities in 2021. The Greenlining Institute has a decades-long history of successfully

6ABC, November 4, 2021, Racial Disparities in Homeownership Persist Across Philadelphia Area White residents of the Philadelphia-Camden-Wilmington metro area are more than one and a half times as likely to own a home as Black or Latino residents, according to a 6abc analysis of 2019 census data. This gap makes it harder for residents of

Advisor News, November 3, 2021, Fla. Community Loan Fund Issues Public Comment on Comptroller of Currency Proposed Rule Ignacio Esteban, CEO of the Florida Community Loan Fund, Orlando, issued a public comment on the Comptroller of the Currency, endorsing the OCC’s decision to rescind the final CRA rule previously adopted in 2020 and its proposal to revert

The Balance, November 3, 2021, Stablecoins Need Legislative Action Now, Regulators Say While stablecoins are considered more stable in value, the President’s Working Group on Financial Markets (PWG) said in its report that they can still be risky. For example, people can trade them speculatively, manipulate them, or use them for illicit transactions, which can