In the News

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

The Sacramento Observer, November1, 2021, Elderly Oak Park Woman Faces Losing Her Home 71-year-old grandmother and janitorial worker Wanda Clark’s home in south Oak Park, is in court-appointed receivership because of housing code violations and can be auctioned off, if the proceedings are not halted.  Rashid Sidqe, executive director of the Sacramento-based non-profit organization Lift

The Progressive Magazine, November 3, 2021, Inside Biden’s Hardline Approach to End Redlining Redlining is no longer limited to racist maps used to determine who receives a mortgage, as it was in the 1930s. Today, it also includes Internet service providers targeting ads to consumers using their racial profile and schools filtering content by restricting Internet search results,

Better Markets, November 1, 2021, Better Markets Applauds OCC Proposal To Rescind Its Seriously Flawed 2020 CRA Rule Phillip Basil, Director of Banking Policy at Better Markets, issued the following statement: “Better Markets has submitted a comment letter in full support of the Office of the Comptroller of the Currency’s (OCC) proposal to rescind its seriously flawed

The Middletown Press, October 28, 2021, After People’s Merger, M&T Bank Focuses on ‘Community Development’ Following its merger with People’s United Financial, M&T Bank has pledged $43 billion in loans, investments, grants and other financial ventures across five years to support low- to moderate-income families. The bank worked with the National Reinvestment Coalition to develop

Psychology Today, October 31, 2021, Age as a Lens on Pressing Social Issues Age is a lens through which we can view other crises. This lens enables us to see the intersectionality of issues that appear to be separate. It also exposes the strengths, weaknesses, and inherent, urgent responsibilities of society for young and old

Impact Alpha, October 29, 2021, Institutionalizing the Racial Reckoning in Community Reinvestment Act Reforms The National Community Reinvestment Coalition recently partnered with Relman Colfax and mapped out in detail how race-conscious approaches to addressing racial economic inequality can be written into CRA, with accountability front and center. The paper calls for demographic and lending benchmarks focused on

Spectrum News 1, October 27, 2021, Black Homeowners Become Fastest Growing Group in Real Estate Brieauna Williams and her husband are a part of the fastest growing group in the U.S. real estate market – Black homeowners. From the time she purchased her home in Charlotte’s Beatties Ford community in 2019 until now, the number of Black homeowners has jumped