In the News

Advisor News, October 14, 2021, Association for Neighborhood & Housing Development Issues Public Comment on Comptroller of the Currency Notice Jaime Weisberg, senior campaign analyst at the Association for Neighborhood and Housing Development, New York, has issued a public comment on the Comptroller of the Currency notice entitled “Citizens Bank, N.A., Providence, RI to P&A Certain A/L from HSBC Bank […]

The Washington Informer, October 13, 2021, Building Generational Wealth in the Midst of Gentrification The nation’s capital is one of the most highly gentrified cities in the country according to a 2019 study by the National Community Reinvestment Coalition based on U.S. Census Bureau and economic data. This is particularly evident in Wards 7 and 8, where homeownership among Black residents has

Patch News, October 13, 2021, Nevada 5th In Home Price Increase Year-To-Year The increase in prices is illustrated by the widening gap between white and Black homeowners, which was 30 points at the end of the second quarter of this year, according to the U.S. Census. “Disparate rates of wealth and homeownership are symbiotic issues

The Real Deal, October 11, 2021, Tug-of-War Over Anti-Redlining Law Heads Back to the Drawing Board The CRA was passed in 1977 to prevent banks from refusing to lend in or near communities of color, a practice known as redlining. The law applies to all institutions insured by the Federal Deposit Insurance Corporation. Trump-appointed regulator

The Root, October 12, 2021, The Democratic Party’s ‘I Don’t See Color’ Homeownership Fight, Explained According to the National Community Reinvestment Coalition, the racial gap between Black and White homeownership is larger than it was in the 1950s – when banks could legally discriminate against against Black homebuyers. The Decent Affordable Safe Housing for All

MintPress News, October 11, 2021, Microcosms of Mayhem & Humanity: Destroying Black & Brown Lives for High-Rises in the Nation’s Capital For well over a decade, Washington D.C. has led the nation in gentrification, and along with just seven other cities, contributes to nearly half of all gentrification in the country. The National Community Reinvestment

Advisor News, October 6, 2021, House Financial Services Subcommittee Issues Testimony From California Reinvestment Coalition Executive Director Brito California Community Reinvestment Coalition’s Executive Director, Paulina-Gonzalez Brito, testified in front of the House Financial Services Subcommittee regarding recent shifts in the banking space. On the topic of bank consolidation, Brito cited a report by the National

Triad City Beat, October 7, 2021, Redlining Exhibit at Forsyth County Library Contextualizes the Past Undesign the Redline is an exhibit that highlights America’s complicated past with redlining policies nationally and locally within the community.  One section of the exhibit, for example, offers documentation from Winston-Salem in the 1930s that shows how Black residents were

National Mortgage News, October 5, 2021, FHLBank San Francisco, Urban Institute Launch Housing Equity Project Last month, a group of Democratic Senators, led by Mark Warner of Virginia, introduced the Low-Income First-Time Homebuyers Act, proposing a 20-year government-backed mortgage program that could allow new homeowners to build wealth twice as fast as they would with a

American Banker, October 6, 2021, Most Powerful Women in Banking |Top Teams: Huntington Bancshares Huntington Bancshares, based out of Columbus, Ohio, was recently honored in the American Banker as one of the top banks with women-led business units and where women have presence and influence in the top ranks of the organization. Amongst the top

The Financial Brand, October 5, 2021, End of the Road for Monzo Charter Isn’t End of the Road for U.S. Unit While the U.K. neobank’s plans to charter an American bank appear to be stymied for now, avenues like banking as a service arrangements remain on the table. Monzo’s U.S. waitlist is still accepting new

POLITICO, October 5, 2021, Banks Fight a Key Part of Biden’s Agenda by Framing It as Bad for Minorities Banks argue that a recent policy proposal requiring them to disclose activity from accounts above a certain threshold would harm people of color, who are mistrustful of bank’s due to their historical discrimination against them in

Truthout, October 4, 2021, Warren Introduces Bill to Protect Bank Customers, Small Banks from Consolidation Sen. Elizabeth Warren (D-Massachusetts) introduced a bill that would reform the way the government authorizes bank mergers. The proposal is an effort to stop the endless “rubber stamping” of bank consolidation, which Warren argues comes at the expense of customers

Advisor news, October 1, 2021, Of the 3,819 Bank Merger Applications the Fed Received Between 2006 and 2017, It Did Not Decline a Single One Congressman Jesus “Chuy” Garcia (IL-04), member of the House of Committee on Financial Services (FSC), and United States Senator Elizabeth Warren (D-Mass.), a member of the United States Senate Banking,

Morningstar Magazine, October 1, 2021, As Mortgage Rates Hover Near Historic Lows, Will Americans Be Able to Take Advantage of the Savings? Despite historically low mortgage rates, supply-chain blockages and difficulty in accessing credit have left many unable to take advantage of such circumstances. The National Community Reinvestment Coalition reported that people of color are