Biden officials want to strengthen bank merger review guidelines. Here’s what they can learn from NCRC’s work with banks.
Community Benefits Agreement
Santander Holdings USA, Inc. and NCRC announce a new community benefits agreement focused on community development and sustainable finance.
“KeyBank knew they violated their promises to marginalized communities, but chose to…prioritize damage control over doing the right thing.” — Jesse Van Tol
A pre-recorded message to the 2023 Just Economy Conference from TD Bank President and CEO Leo Salom regarding the Community Benefits Agreement tied to the TD-First Horizon merger.
TD Bank will commit $50 billion in investments, lending, philanthropy and other services for diverse and underserved communities as it acquires First Horizon.
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. 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 …
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.