The Cleveland-based mortgage lender abandoned Black America and broke its promises to community groups.
Community Benefits Agreement
Among the 50 biggest mortgage lenders, KeyBank ranked last on one important metric of racial inclusion. KeyBank’s broken promises to Black America have prompted a leading economic justice organization to break ties with the bank.
Broken Promises To Black America Prompt Community Advocate To Break Ties With Bank
Customers and communities win $40 billion in tangible commitments from pending bank merger.
The amended agreement will help provide stronger positive impact across the communities First Merchants serves.
The National Community Reinvestment Coalition (NCRC), Columbia Bank (Columbia) and Umpqua Bank (Umpqua) announced an $8.1 billion Community Benefits Plan (Plan) that builds on both bank’s commitment to advance economic opportunity for individuals and support small business formation in historically underserved communities throughout its footprint.
U.S. Bancorp today announced a more than $100 billion, five-year community benefits plan, developed in partnership with the National Community Reinvestment Coalition (NCRC) and the California Reinvestment Coalition (CRC), as part of the planned acquisition of MUFG Union Bank.
Roughly three years ago, NCRC members in Cincinnati met to discuss the pressing needs facing LMI communities and how the various community benefits agreements might provide some level of support. …
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 …
New York Community Bancorp, Inc. (NYCB) and the National Community Reinvestment Coalition (NCRC) announced today the company’s commitment to provide $28 billion in loans, investments and other financial support to communities and people of color, low- and moderate-income (LMI) families and communities, and small businesses.
Huntington Bancshares Inc. (Nasdaq: HBAN) and the National Community Reinvestment Coalition (NCRC) today announced a new $40 billion community benefits plan that will focus on affordable housing, small business loans and increased capital to low- and moderate-income communities, communities of color and communities that have been historically disadvantaged.
First Citizens Bank announced today a $16 billion community benefits plan — developed in collaboration with the National Community Reinvestment Coalition (NCRC) — that builds on its work to reinvest in low- and moderate-income (LMI) communities and neighborhoods of color.
Lending and investments would total $7.75 billion over the 2020 to 2023 period and align with the combined retail branch footprint in Arizona, California, Colorado, Florida, Hawaii, Kansas, Nebraska, Nevada and Texas.
Becoming a Community Development Financial Institution (CDFI) has allowed the Louisville Housing Opportunities and Micro-Enterprise Community Development Loan Fund, Inc. (LHOME), a NCRC member organization, to provide affordable housing and facilitate small business startups in low- to moderate-income (LMI) areas of the city.