Nonprofit Quarterly: IberiaBank pledges $6.72 billion for low- and moderate-income communities.

Nonprofit Quarterly, Nov. 6, 2017: Bank to Direct 24% of Assets to Serve Low- & Moderate-Income Communities

Given the size of the promised lending commitment relative to its balance sheet, there is little doubt that the IberiaBank deal is precedent-setting. Still, the deal is part of a larger industry trend. Last year, NCRC negotiated similar deals with two much larger banks. One of these deals involved Key Bank, based in Ohio, which committed $16.5 billion in lending and $175 million to philanthropy (focused on education and workforce development). Huntington Bank, also in Ohio, committed $16.1 billion in lending and $25 million to philanthropy, as well as creating a $30 million fund to support bank branches in low- and moderate-income communities and other service improvements.

Source: Nonprofit Quarterly

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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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