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Magnolia Reporter: Cadence Bank releases five-year Community Benefits Plan

By / / In the News / 1 minute of reading

Magnolia Reporter, February 26, 2022, Cadence Bank releases five-year Community Benefits Plan Developed in collaboration with the National Community Reinvestment Coalition (NCRC), it builds on a commitment to support traditionally under-served communities, including low- and moderate-income (LMI) neighborhoods, people of color, and small businesses.

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Letter from US Senators Sherrod Brown, Cory A. Booker, Benjamin L. Cardin, Ron Wyden, Richard J. Durbin asking for a strong Section 1071 rule

By / / Policy / 4 minutes of reading

(Download) The Honorable Rohit Chopra Director Consumer Financial Protection Bureau 1700 G Street NW Washington, DC 20552 Re: Dodd-Frank Section 1071 Rulemaking Dear Director Chopra: Thank you for the opportunity to comment on the Consumer Financial Protection Bureau’s (CFPB or Bureau) proposed rule amending Regulation B to implement Section 1071 of the Dodd-Frank Wall Street

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Video: Bank Branch Closures During the Pandemic

By / / NCRC Videos / 4 minutes of reading

Online Event Archive Recorded Thursday, March 3, 2022 The pandemic wreaked havoc on local economies and lives, but for banks, it was an opportunity to speed up the disappearance of traditional brick-and-mortar branches and services in cities and towns across the nation. NCRC’s new report shows that more than 4,000 physical bank branch locations have

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NCRC Remarks To Federal Regulators On US Bank Merger

By / / Testimony & Regulatory Comments / 3 minutes of reading

Jesse Van Tol, President and CEO of the National Community Reinvestment Coalition, provided the following testimony on March 8, 2022, to regulators reviewing the proposed merger of U.S. Bancorp and MUFG Union Bank.  Good morning. I’m Jesse Van Tol and I’m the President and CEO of the National Community Reinvestment Coalition (NCRC). I will detail

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NCRC Community Development Fund Named to Fast Company’s Annual List of the World’s 50 Most Innovative Companies for 2022

By / / Press Releases / 4 minutes of reading

The NCRC Community Development Fund, Inc. (NCRC CDF) has made Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2022, placing ninth in the “Small and Mighty” category. 

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Mayor Woodfin to Present Keys to First Homeowners in Historic Birmingham Neighborhood

By / / Press Releases / 4 minutes of reading

The first homeowners will receive keys to their new homes from Mayor Randall Woodfin on March 17, 2022, at a ribbon-cutting ceremony celebrating homeownership and the revitalization of the Ensley community. These will be the first closings under the $25 million partnership between the City of Birmingham and The NCRC Housing Rehab Fund, LLC (NCRC HRF), known as GROWTH by NCRC.  

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Racial Wealth Snapshot: Women, Men, and Racial Wealth Divide

By / / Research / 8 minutes of reading

This is one in a series of racial wealth snapshots. See more here. Download Infographic View Infographic Introduction Women have made great strides in the workplace, comprising nearly half of the workforce and surpassing men in higher education achievement. Yet women still earn less income, have less wealth and face greater economic instability than their

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Advocacy groups remind bank regulators of the urgent need for stronger CRA rules and tougher enforcement on lending equity and bank mergers

By / / Press Releases / 5 minutes of reading

With a new proposal imminent from bank regulators, community, civil rights and consumer advocacy groups stress the urgency of updates to Community Reinvestment Act

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Position Paper on CRA Reform

By / / Testimony & Regulatory Comments / 27 minutes of reading

(Download) The 123 undersigned organizations are pleased that the federal bank agencies will be proposing an interagency rule implementing the Community Reinvestment Act (CRA) in the near future. CRA has been instrumental in leveraging bank financing for retail lending and community development in low- and moderate-income (LMI) communities since its passage in 1977. A critical

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USA Today: Iowa’s only Black-owned bank would combat discrimination, increase equity

By / / On Our Radar / 1 minute of reading

USA Today, February 23, 2022, Iowa’s only Black-owned bank would combat discrimination, increase equity It was April 2020, a month after health officials declared the coronavirus a pandemic and a month before George Floyd’s murder. “OK,” she thought in a silent prayer, “if this is really something I’m supposed to do, I need You to

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