In the News

Nouvel Fl’âm, September 20, 2021, Whitehouse, Durbin Introduce Expenses To Crack Down On Payday Advance Loan U.S. Senators Sheldon Whitehouse and Richard Durbin brought forth the Protecting Consumers from Unreasonable Credit Rates Act of 2019 that seeks to cap the fee and interest rate creditors can charge borrowers for an open consumer credit plan to […]

The Milford Mirror, September 17, 2021, With Federal Relief Past, Experts Fear a Surge in Foreclosures in CT CT has had one of the highest rates of mortgages 90 days or more past due in the nation since the mid-2010s, even as rates declined overall “If I haven’t paid my mortgage in three months, I’m

International Banker, September 16, 2021, For Banks, Digital Transformation Is An Opportunity, Not A Threat As consumers use cash and checks less frequently, their need for traditional banking services associated with those payment methods declines, while their desire for digital options increases—both of which have implications for banks. In some cases, shifts in consumer demand

Value Walk, September 15, 2021, Business Structure Of Small Businesses May Matter More Than We Knew The removal of the credit score requirement for PPP loans may have revealed another barrier to credit: the structure of a business. Business structure was the first question asked on the PPP application. While it is unclear how lenders used

Passion of the Weiss, September 14, 2021, “I Was Raised by the Streets, Raised by my Neighbors:” An Interview with ALLBLACK An interview with Oakland-based rapper and musician ALLBLACK discusses among other things, his experience growing up in a city rife with gentrification. A 2020 study conducted by the National Community  Reinvestment Coalition concluded that

American Banker, September 14, 2021, What the $3.5 Trillion Budget Package Could Mean for Banks As Congress tries to advance a massive $3.5 trillion spending plan, lawmakers and other stakeholders are pushing provisions that are of intense interest to the financial services sector. Several civil rights and housing policy groups — including the Center for

Compliance Savvy, September 14, 2021, CRA Evolution and Recent Modernization Efforts – Part 1 Even though many people may not be familiar with the CRA or pay attention to it, it is an important law. It directly impacts the lives and livelihoods of people living in LMI communities by incentivizing banks to direct large amounts

American Banker, September 12, 2021, CFPB Small-Business Data Plan Scares Banks. Activists Say it Should The Consumer Financial Protection Bureau’s proposal to collect data on small-business loans has been over a decade in the making, but the fight over the rulemaking is just getting started. “It is immensely important to get a handle on whether

Sun Herald, September 10, 2021, A Bank Is Closing a Branch in Downtown Biloxi Despite a Petition to Keep it Open The sign is posted on the door and despite a petition asking to keep it open, Wells Fargo Bank’s Howard Avenue branch in downtown Biloxi will close in a few weeks. The difficulty in

DS News, September 9, 2021, Changing the Meaning of “Equity” in the Housing Industry Inequities persist, in part, because they often go unrecognized and uninterrogated. As an industry, we have a special obligation to correct the inequities in housing that endure decades after the original discriminatory practices have been discredited and abandoned. Organizations such as

AllWork, September 9, 2021, New Working Space Opens Blocks From the White House The National Community Reinvestment Coalition (NCRC) has opened a new coworking and event space in the Union Trust building just two blocks from the White House. Now, the new coworking space coined The Just Economy Club will offer a variety of private offices, as

Nerd Wallet, September 8, 2021, What Is a Realtist? A Realtist is a real estate professional who is a member of the National Association of Real Estate Brokers, an equal rights organization focused on serving people of color. NAREB’s mission is “democracy in housing,” which is the right for people of every race, color or

Washington Credit Union Daily, September 6, 2021, Consumer Groups Praise CFPB Small Business Lending Rule Consumer advocates are praising the Consumer Financial Protection Bureau’s proposed rule that would require financial institutions, including credit unions, to report demographic information about their small business lending. “Publicly accessible data on small business lending can motivate lenders to increase

Segregation best neighborhoods were almost exclusively White and hazardous neighborhoods were mainly comprised of minorities. This process is known as redlining Bruce Mitchell, senior research analyst at the National Community Reinvestment Coalition explains the redline process it’s systematic approach evaluation neighborhoods that will SA and postage to shake really resulted in which communities we’re given mortgage launch and which commanders were not and know in most cases is H also appraisers.