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NCRC President and CEO Jesse Van Tol on Bloomberg TV’s Triple Take

The National Community Reinvestment Coalition’s (NCRC) President and CEO Jesse Van Tol appeared on Bloomberg TV’s Triple Take on April 14, 2022. Van Tol discussed NCRC’s recent report: The Great Consolidation of Banks and Acceleration of Branch Closures Across America.

“The story here is bank consolidation and branch consolidation: 18,000 institutions down to 5,000. The trend line continues. We’ve seen ongoing mergers and consolidations at the regional bank level and the community bank level. The question is: Are we headed for Europe, where you see five large institutions really dominate the market and what does that mean for access, for competition,” Van Tol said.

“We’ve seen dozens of banking deserts crop up, especially in rural places and underserved markets and minority communities.”

 

 

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Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

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