In the News

USA Today, November 8, 2023, As Online Banking Grew, Mortgage Lending Regulations Didn’t Follow Suit. Until Now. After nearly three decades, bank regulators have updated a 1977 law meant to undo the practice of redlining, a color-coded government-backed policy of discriminating against Black borrowers by deeming ? and literally outlining ? majority Black neighborhoods as “hazardous.” The […]

MSN, November 6, 2023, Why Are The Big Banks In The US Laying Off Thousands Of Employees? Changes are coming to the banking sector. As younger clients open accounts, digital banking options are increasing in demand, and automation is leading banks to close local branches. The integration of artificial intelligence into the banking sector, as well as

HousingWire, November 6, 2023, Bank Regulators Issue New Community Reinvestment Act Rule The Office of the Comptroller of the Currency, the Federal Reserve Board and the Federal Deposit Insurance Corporation issued on Tuesday a new rule to modernize the 1977 Community Reinvestment Act (CRA), which addresses systemic inequalities in access to credit.  Jesse Van Tol, president and CEO of the National

Bloomberg, October 25, 2023, Big Banks Face Fresh Anti-Redlining Rules From Top US Regulators Top US banking regulators have updated decades-old rules that are meant to tackle redlining and boost lending to lower-income areas.  Under Tuesday’s plan, the landmark 1977 Community Reinvestment Act will for the first time cover online and mobile banking services. That means the

American Banker, October 25, 2023, Community Reinvestment Act Rule Finally Crosses The Finish Line  The Board of Governors of the Federal Reserve System voted to issue a final rule revamping the Community Reinvestment Act Tuesday morning, redefining the criteria for small, intermediate and large banks; introducing new evaluation tests based on loan activity rather than

Axios, October 25, 2023, Banks Are About To Face Tougher Scrutiny Of Discrimination In Lending Bank regulators finalized changes on Tuesday to a 1977 law meant to address racial discrimination in banking — particularly the practice of redlining, the previously federally-sanctioned practice of not providing home loans to Black borrowers in certain neighborhoods. Under the

Sacramento Bee, October 25, 2023, California Leaders Have Not Owned The Scale Or Vastness Of The Housing Crisis It is nothing short of a crisis when a family struggles to afford a place to live. For too many Californians, sky-high housing costs eat up more than half of their income, leaving little for other basic

Wall Street Journal, October 25, 2023, Banks Face Shake-Up Of Low-Income Lending Rules WASHINGTON—Top US banking regulators struggled for more than five years to update anti-redlining rules aimed at making banks lend more in lower-income communities. On Tuesday, they completed a revamp of them for the era of online banking. The 1977 Community Reinvestment Act sought

USA Today, October 26, 2023, As Online Banking Grew, Mortgage Lending Regulations Didn’t Follow Suit. Until Now. After nearly three decades, bank regulators on Tuesday updated a 1977 law meant to undo the practice of redlining, a color-coded government-backed policy of discriminating against Black borrowers by deeming ? and literally outlining ? majority Black neighborhoods as “hazardous.”

AS USA, October 24, 2023, Why Are The Big Banks In The US Laying Off Thousands Of Employees? Changes are coming to the banking sector. As younger clients open accounts, digital banking options are increasing in demand, and automation is leading banks to close local branches.  The integration of artificial intelligence into the banking sector, as well

Politico, October 24, 2023, The New Front In The Battle Over Fair Lending Banking regulators will unveil their final Community Reinvestment Act regulations on Tuesday, the culmination of a five-year effort to overhaul the way the landmark 1977 anti-redlining law is applied. Neither banks nor civil rights advocates are likely to be satisfied. Fair-lending advocates, meanwhile,

Perspectives On History, October 24, 2023, AHA MEMBER SPOTLIGHT: NICHOLE NELSON Nichole Nelson is a senior policy advisor at the National Community Reinvestment Coalition. She lives in Washington, DC, and has been a member since 2013. “During my last year of my PhD program, I applied for the Mellon/ACLS Public Fellows fellowship. The great thing

American Banker, October 24, 2023, Banking And Community Advocacy Groups Trade Accusations Of Dirty Pool  WASHINGTON — The American Bankers Association and the National Community Reinvestment Coalition are engaged in an unusual exchange of accusations of intimidation and misrepresentation that puts regulators in the middle of the clash, according to letters obtained by American Banker. 

Off Plan Property Exchange, October 20, 2023, How Redlining Continues To Shape Property Values And Neighborhoods Today In the annals of American history, redlining holds a notorious position as a discriminatory practice that has shaped the landscape of urban neighborhoods and property values. Despite its official abolishment in the late 1960s, the legacy of redlining

ViaNolaVie, October 20, 2023, Historic Preservation In New Orleans By the 1980s, New Orleans’ economy was changing. A new convention center and the Superdome provided new and exciting event spaces. The oil industry had faltered, and “by March 1986, the oil bust had caused Louisiana’s unemployment rate to hit 13.2 percent, the highest in the country