The Wall Street Journal, March 27, 2023, A Tale Of Two Housing Markets: Prices Fall In The West While The East Booms The United States is a country of two housing markets. In one, home prices are falling from a year ago. In the other, they’re still posting annual gains. That division runs right down […]
The Washington Post, March 27, 2023, The Initial Banking Crisis Is Easing. Another May Be Around The Corner. In the White House, Treasury Department and Federal Reserve, policymakers are examining the potential risks posed by the approximately $20 trillion market for commercial real estate, which some analysts project is heading for a crash over the
Axios, March 28, 2023, “Badwill” Hunting: The Difference Between The Bank Failures Of 2008 And Today When government intervened to save Credit Suisse and Silicon Valley Bank, a lot of people lost a lot of money — shareholders and some bondholders are zeroed out; senior executives are unceremoniously fired. The acquiring banks, on the other hand — UBS
Axios: “Badwill” Hunting: The Difference Between The Bank Failures Of 2008 And Today Read More »
NPR, March 22, 2023, The Fed Raises Interest Rates Again Despite The Stress Hitting The Banking System Members of the Fed’s rate-setting committee believe slightly higher rates may be necessary to restore price stability. On average, policymakers anticipate rates climbing by another quarter-percentage point by the end of this year, according to new projections that
NPR: The Fed Raises Interest Rates Again Despite The Stress Hitting The Banking System Read More »
Oregon Business, April 12, 2023, Bank On It This new inflation/interest rate environment piles on another layer to the challenges banks already face. For instance, consolidations and closures, a trend since the 1980s, continue. The National Community Reinvestment Coalition reports that 9% of all US branch locations closed between 2017 and 2021. The closure rate
Oregon Business: Bank On It Read More »
Alabama News, April 11, 2023, Birmingham City Council Creates New Fair Housing Committee Among its initiatives to improve housing opportunities, Birmingham has partnered with the National Community Reinvestment Coalition in a program called GROWTH by NCRC to build 200 homes around the city, with Woodlawn and Oak Hill in Belview Heights as initial demonstrations of that plan.
Alabama News: Birmingham City Council Creates New Fair Housing Committee Read More »
The Regulatory Review, April 11, 2023, Regulators Propose Updates To Community Reinvestment Act Rules The National Community Reinvestment Coalition (NCRC), a non-profit advocacy organization focused on fair housing and banking, also published a list of areas where the proposed updates to CRA regulations “fall far short.” According to the NCRC’s report, some of the proposed financial regulations will ultimately limit regulators’ abilities
The Regulatory Review: Regulators Propose Updates To Community Reinvestment Act Rules Read More »
Journal-Courier, April 1, 2023, Grants Available To Artists, Arts Groups The Illinois Creative Recovery Grant Program, or Back to Business Arts, is federally funded through the Illinois Department of Commerce and Economic Opportunity and administered by the National Community Reinvestment Coalition.
Journal-Courier: Grants Available To Artists, Arts Groups Read More »
American Banker, March 30, 2023, OCC’s Hsu: Fairness As Important To Bank Health As Safety And Soundness “It is precisely during times like these — when the world is fixated on financial and systemic risks — that issues of fairness can get pushed to the bottom of the pile and ignored,” Hsu said in his
American Banker: OCC’s Hsu: Fairness As Important To Bank Health As Safety And Soundness Read More »
Cleveland News, April 4, 2023, KeyBank Lending In Black Communities Falls Short, Study Shows. Could Cuyahoga Be Shopping For A New Bank Soon? The National Community Reinvestment Coalition, a fair-lending advocacy group, cut ties with KeyBank last year after a similar study showed it was failing.
The Pitch, April 4, 2023, Ma’Ko’Quah Jones Indexes Indigenous Strategies For Climate Change Resilience The workers come from far away and live in a temporary shelter in a community that is likely very different from their own. The pay can be quite good, especially considering the local, usually rural, standard of living. Furthermore, local poverty
The Pitch: Ma’Ko’Quah Jones Indexes Indigenous Strategies For Climate Change Resilience Read More »
American Banker, April 2, 2023, Silicon Valley Bank Pledged $11 Billion In Community Benefits. Now What? Acknowledging that SVB is “a different bank with different capabilities” today is central to figuring out how to move forward, said Jesse Van Tol, president and CEO of the National Community Reinvestment Coalition, a fair-lending group that helps negotiate
Washington Business Journal, March 30, 2023, Feds Issue Sweeping Rule On Small Business Loan Data Collection Both bank and nonbank lenders will have time before they will need to start reporting the data.
American Banker, March 30, 2023, CFPB Finalizes Data-Reporting Rule For Small-Business Lenders “Having the data set is very, very powerful especially when you can identify … what different lenders are doing,” CFPB Director Rohit Chopra said Thursday, drawing applause and cheers at a conference of the National Community Reinvestment Coalition. “By merely asking for the
American Banker: CFPB Finalizes Data-Reporting Rule For Small-Business Lenders Read More »
Yahoo Finance, March 27, 2023, Fed’s Rate Hikes Hurt Lower-Income Homebuyers The Most, Study Finds “A volatile interest rate of over 7% is totally making it dismal for folks in terms of home buying,” Ibijoke Akinbowale, community impact director at National Community Reinvestment Coalition, told Yahoo Finance. Although the recent interest rate hikes affect all
Yahoo Finance: Fed’s Rate Hikes Hurt Lower-Income Homebuyers The Most, Study Finds Read More »
