In the News

The number of bank branches in the U.S. has declined by 5.1% between 2017 and 2020 to just over 80,000, according to the National Community Reinvestment Coalition.

This week, Thursday, February 18 from 10-4 (EST), Florida’s Alternative Investments Association (FLAIA), which provides educational content to investors and lenders, hosts a webinar on real estate, direct lending, and private debt.

A California federal district court has denied the OCC’s motion to dismiss the lawsuit filed in June 2020 by the National Community Reinvestment Coalition and California Reinvestment Coalition that asks the court to declare the OCC’s CRA final rule (Rule) unlawful under the Administrative Procedure Act (APA) and set it aside.

NCRC recommended that banks “not wait for consumers to initiate contact, as not all consumers know what options are available.” They also suggested reviewing their records on loan modifications to ensure that their modification policies and practices were not violating fair lending rules.

A judge ruled that a lawsuit seeking to invalidate recent reforms of the Community Reinvestment Act can proceed.

This lack of progress in closing the racial wealth divide should be a wake-up call: Bold action is necessary. That’s why we’re calling on President Biden to announce a White House Office of Racial Economic Equity.

Biden appointees, poised to address unresolved issues in digital-asset regulation, will be cheered on by many in the industry

In an effort to help keep people in their homes and address the health and economic impact of COVID-19, U.S. Senator Jack Reed (D-RI) today reintroduced his $75 billion Homeowner Assistance Fund bill.

Featured speakers for this year’s conference include Marc Morial, president & CEO of the National Urban League, Maggie Anderson, co-founder of The Empowerment Experiment, Shelly Bell, serial entrepreneur and founder of Black Girl Ventures and Dedrick Asante-Muhammad, chief of race, wealth and community of the National Community Reinvestment Coalition.

Consumer advocates have uniformly and vigorously opposed the OCC’s CRA final rule, accusing the agency of acting hastily to “unlawfully gut[]” the CRA. On June 25, 2020, the National Community Reinvestment Coalition (“NCRC”) and California Reinvestment Coalition filed a lawsuit against the OCC, asking a federal district court to declare the OCC’s CRA final rule unlawful and set it aside.

The Biden Administration has selected Jenn Jones to serve as HUD’s chief of staff. Jones was a former policy lead at the National Community Reinvestment Coalition, a fair-lending nonprofit.

Redlining was banned in 1968, but the areas deemed “hazardous” by the federal Home Owners’ Loan Corp. from 1935 to 1939 are still much more likely than other areas to be home to lower-income, minority residents, a 2018 study by the National Community Reinvestment Coalition found.