In the News

Good Men Project, January 12, 2024, How Redlining’s Legacies Demand New Policy Action To further put the wealth divide into perspective, the recent Still A Dream: Over 500 Years to Black Economic Equality report from the National Community Reinvestment Coalition and the Institute for Policy Studies states that, in 2021, African Americans had 62 cents to the white […]

The New York Times, January 17, 2023, Consumer Bureau Proposes Overdraft Fee Limits For Large Banks Jesse Van Tol, the CEO of the National Community Reinvestment Coalition, called overdraft fees, which many banks charge as often as three times per day, “a way of fleecing people who live paycheck to paycheck — a morally repugnant

The Seattle Times, January 20, 2024, What Is The Basel III Endgame, And Why Are Banks So Upset About It Some liberal Democrats in Congress and nonprofits devoted to closing the racial wealth gap are worried about the plan’s treatment of mortgages. Others say parts of the proposal could hurt renewable energy development by taking

BankingDive, January 19, 2024, 9 Capital-Requirements Comments To Watch The National Community Reinvestment Coalition suggested the Fed walk back its mortgage-related risk weightings to the Basel’s standard. “If risk weightings for high loan-to-value mortgage loans held for investment increase dramatically, it may make banks more hesitant to extend mortgage loans to the types of borrowers —

Newsbreak, January 19, 2024, Bank Closure Crisis Deepens in Pennsylvania: Six New Shutdowns Announced According to the National Community Reinvestment Coalition report: “When bank branches close, there are several adverse effects on the surrounding community. Small business lending and activity in the area declines. More people use alternative financial services that open them to unregulated

Inside Indiana Business, January 19, 2024, Old National Adds To Community Growth Plan The original plan and the recently announced addendum were developed in collaboration with the National Community Reinvestment Coalition. Old National says the additional investment is subject to the closing of the bank’s $344 million acquisition of CapStar Financial Holdings Inc. in Nashville, Tennessee, which

Ballard Spahr, January 23, 2024, Banking And Non-Banking Industries Voice Concern Over Basel III Endgame Proposal’s Potentially Significant Negative Impact On Consumers Non-banking trade groups have echoed some of the same sentiments and concerns as those outlined in the CBA’s White Paper. Several affordable housing, civil rights, and urban advocacy groups, including the National Housing

NWITimes, January 23, 2024, Old National Bank To Spend $1.2 Billion More On Community Growth Plan “Supporting and strengthening the assemblies that Old National serves is a strategic priority and a defining characteristic of our Old National culture,” said Old National CEO Jim Ryan. “We are excited for this opportunity to expand on our existing

Candid, January 23, 2024, TD Bank Plans $10B ‘Home Ownership Investment’ Focused On Boston, Five Other Cities The $20 billion, three-year effort was developed with help from the National Community Reinvestment Coalition, a press release issued by the bank Wednesday said. The plan will also help TD Bank fulfill its Community Reinvestment Act obligations to

GovLoop, January 25, 2024, The Best Government Conferences Of 2024 Just Economy Conference April 2 – 4, 2024 | Washington, D.C. | #JustEconomy The Just Economy Conference is a national event for community, business, foundation, policy and government leaders who want a nation that not only promises but delivers opportunities for all Americans to build wealth and live well.

Newsbreak, January 26, 2024, Pennsylvania Faces Banking Transformation: Ten More Branches Announce Closures This Month This wave of closures is not isolated to Pennsylvania but is part of a broader national trend. Between 2017 and 2021, nearly 7,000 bank branches, accounting for nine percent of all U.S. locations, ceased operations. This decline in physical banking facilities has

CNBC, January 24, 2024, If Your Local Bank Branch Has Closed For Good, You’re Not Alone – Here’s What You Can Do While this trend is widespread, it’s been hitting low-income and majority-minority communities even harder. According to the National Community Reinvestment Coalition, one-third of the branches closed from 2017 to 2021 occurred in areas that

NJBIZ, January 26, 2024, TD Bank Commits $20B To 3-year Community Impact Plan Developed with the National Community Reinvestment Coalition, the plan is a smaller-scale outline than the five-year, $50 billion vision TD Bank announced in February 2023. That version was contingent on a $13.4 billion planned merger with First Horizon Corp., which was called off in May 2023. 

Politico, January 30, 2024, A Bank Merger ‘Mirage’ National Community Reinvestment Coalition President and CEO Jesse Van Tol said some of the broad highlights Hsu laid out are “promising.” He cited Hsu’s decision to end “default approval” of some mergers and his commitment to launch a public database on the agency’s merger reviews.

HousingWire, January 30, 2024, First Financial Bank To Invest $700M By 2028 In Affordable Mortgage Cincinnati-based First Financial Bank has agreed to direct $2.4 billion in the next five years for lending and investments to low- and moderate-income (LMI) clients and census tracts, with 30% of the total tied to mortgage lending. The initiative is part of a community benefits agreement