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. The group identified food insecurity as the number one project they would undertake. First Financial Bank was identified as the appropriate partner and after several …
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 …
NCRC Remarks To Federal Regulators On US Bank Merger Read More »
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.
Community benefits agreements (CBAs) are a way for banks to spell out, in writing, how they will satisfy CRA requirements when they merge. The agreements are between banks and community groups.
BB&T Corporation (NYSE: BBT), SunTrust Banks, Inc. (NYSE:STI) and the National Community Reinvestment Coalition (NCRC) today announced the creation of a three-year, $60 billion community benefits plan for the region served by Truist Financial Corporation, the combined company to be created through the proposed merger of the two banks. The plan, based upon discussions between …
National Community Reinvestment Coalition (NCRC) President and CEO urged more lending and better service for low- and moderate-income communities (LMI) in remarks they made at two recent hearings on the proposed merger between BB&T Bank Corporation and SunTrust Banks, Inc.
The plan will increase access to financial resources within low- to moderate-income (LMI) communities in Florida, Georgia, Mississippi, North Carolina, South Carolina, Tennessee, Texas, and Virginia.
The $22 billion-asset company, which has been an aggressive acquirer in recent months, said in a press release last week that it had worked with the National Community Reinvestment Coalition on the five-year plan.
