American Banker, March 26, 2024, Capital One Seeks Community Plan On Discover Deal, Even As Some Activists Balk Capital One’s deal to purchase Discover has drawn opposition from the National Community Reinvestment Coalition, which has more than 700 member organizations.
Yahoo Finance, March 22, 2024, Advocates Urge Transparency In Capital One-Discover Review In a Thursday letter, Consumer Reports, US PIRG, the Consumer Federation of America and the National Community Reinvestment Coalition expressed concern about the implications of the deal and called on regulators “to commit to a more transparent process that enables the public to fully
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Kiplinger, March 29, 2024, Capital One/Discover: What’s In Their Wallet For You? The group — which includes the Consumer Federation of America, Consumer Reports, and the National Community Reinvestment Coalition (NCRC) — urged that a public hearing be held on the matter. It called on the Federal Reserve, the Office of the Comptroller of the
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New York Times, March 22, 2024, Regulators Rethink Big Bank Deal The Discover deal was already poised for tight scrutiny. Rohit Chopra, the director of the Consumer Financial Protection Bureau, told DealBook that the credit card market had been consolidating for years, and that “any proposed transaction is going to get a very close look.” Progressive advocacy groups
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Reuters, March 21, 2024, Exclusive: CapOne Tells Regulators Discover Deal Will Boost Competition And Stability “This is a key test of the federal merger review framework,” said Jesse Van Tol, CEO of the National Community Reinvestment Coalition, a community lending advocacy group which opposes, opens new tab the deal. A spokesperson for the OCC confirmed it had
BankingDive, March 22, 2024, Advocates Urge Transparency In Capital One-Discover Review In a Thursday letter, Consumer Reports, U.S. PIRG, the Consumer Federation of America and the National Community Reinvestment Coalition expressed concern about the implications of the deal and called on regulators “to commit to a more transparent process that enables the public to fully participate
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Eurweb, March 20, 2024, $6.7 Million Dollar SOS Initiative Impacts 28 National Organizations & Single Moms Additional funders of Share Our Strength’s family economic mobility work include the Robert Wood Johnson Foundation and the Sodexo Stop Hunger Foundation. Lead partner organizations include:
Tampa Bay Times, March 15, 2024, TD Bank Launches $20B Community Impact Plan to Empower Underserved Communities TD Bank, America’s Most Convenient Bank® announced a three-year Community Impact Plan that will provide an estimated $20 billion supporting lending, philanthropy, banking access and other activities for the benefit of diverse and underserved communities. This strategy, developed
US Department of Housing and Urban Development, March 12, 2024, HUD Awards $2.75 Million To Train And Equip Skilled Housing Counseling Professionals The U.S. Department of Housing and Urban Development’s (HUD) Office of Housing Counseling announced today it has awarded $2.75 million in grants to seven nonprofit organizations to fund training and education for current
Next City, March 12, 2024, Why The Community Reinvestment Act Is Back In The News – Again Over at Fast Company, financial journalist James Surowiecki writes that the Capital One-Discover merger could be a boon for consumers and business owners, who could see lower swipe fees with the addition of a larger competitor to Visa and MasterCard.
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Financial Times, March 8, 2024, How Steven Mnuchin Pulled Off A $1bn Deal To Steady A Teetering US Bank OneWest, as IndyMac was renamed, made headlines for its hard-knuckled approach to evictions and debt collecting, foreclosing on tens of thousands of homes. But when it was eventually sold in 2015 to CIT, Mnuchin’s consortium of
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Online Event Archive Recorded March 21, 2024 During the webinar, NCRC staff review the policy priorities for this year’s Hill Day. This session will help grow your policy knowledge and is the first step in preparing Hill Day participants for their meetings. Speaker: Rion Dennis, Senior Government Affairs Director, NCRC Transcript: NCRC video transcripts
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As we celebrate Women’s History Month this March, NCRC would like to acknowledge all the amazing work and accomplishments women have achieved. At NCRC, we are proud to have many strong and hardworking women advocating for a Just Economy for all. Each of them plays a crucial role in creating a more inclusive society. And
Empowering Voices: Celebrating Women’s Achievements at NCRC for Women’s History Month Read More »
Capital One’s proposed acquisition of Discover poses serious threats to consumers and communities, and to the competitive markets that are vital to efficient capital flows. It should not be allowed.
Messaging Memo: Words That Work to Oppose the Capital One-Discover Merger Read More »
The Federal Deposit Insurance Corporation (FDIC) on Thursday proposed changes to its merger review practices. Jesse Van Tol, President and CEO of NCRC, released the following statement: “The FDIC’s proposal is a huge step forward. In particular, it recognizes that the regulators obligation is to assess public benefit in a forward-looking way, not just rely
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