The NCRC study, based on government exams of the nation’s 50 biggest banks, found some banks get credit for investments outside of their assessment areas (AAs) even when those banks underinvested in the areas they are supposed to serve first. Meanwhile, other banks get little or no credit outside of assessment areas.
Report: Bank regulators need to plug loopholes in Community Reinvestment Act exams Read More »
Data is the sunlight that makes possible the fight against discrimination. The Consumer Financial Protection Bureau (CFPB), however, is considering changing its method of disseminating loan data that would make it less readily available to the public and significantly hamper our collective ability to root out unfair and discriminatory practices.
The CFPB needs to keep easy access to HMDA data Read More »
Data on community development lending and investing is lacking on a census tract level, making the information incomplete and difficult to assess. However, this is not the case for home mortgage lending data and small business loan data. If the federal regulatory agencies truly want to reform CRA, the first place to start is with better data. It would be a win-win for both banks and community organizations by facilitating identification of underserved areas. It would also further CRA’s objectives of directing access to credit and capital where it is needed most.
Increasing community development financing data a necessary component for CRA reform Read More »
Reforming CRA must not become a pretext for relaxing CRA. The focus of these principles are areas we expect the federal bank agencies to consider in reforming CRA.
Principles for CRA Regulatory Reform Read More »
Chase’s arrival in the D.C. area is significant in part because it has been accused of lending discrimination here.
JPMorgan Chase will open 70 new branches in the District.
Reveal: Chase announces major expansion in DC Read More »
The Department of Treasury has released a long-awaited report recommending the first meaningful reform to the Community Reinvestment Act since 1995.
Treasury’s CRA reform has arrived: It’s good, it’s bad, it’s vague Read More »
Chase’s only DC office isn’t technically a branch, which allows it to dodge CRA regulations.
Reveal: Chase rarely lends to people of color in DC – and it’s probably legal Read More »
Regulators are working intently on a proposal to reform how they apply the Community Reinvestment Act after previous attempts to modernize CRA policy drew mixed reviews.
American Banker: Will CRA finally get its makeover? Read More »
Get ready for a new front in the Trump administration’s war on communities of color and working people: “Reform” of the Community Reinvestment Act.
The Greenlining Institute: CRA “reform” is an attack on communities of color Read More »
Regulators plan to have a revamped version of CRA rules ready for distribution by the end of March.
American Banker: New CRA proposal scheduled for release in March: OCC’s Otting Read More »
Reveal exposes modern-day redlining is occurring in at least 61 US cities. In Philadelphia, black applicants there were almost three times as likely to be denied a conventional home purchase loan as white applicants. And this discrimination isn’t just a few banks, nearly two-thirds of mortgage lenders are still discriminating against clients of color.
Reveal: For people of color, banks are shutting the door to homeownership Read More »
The National Community Reinvestment Coalition, joined by almost 500 national and local organizations, today sent a set of recommendations to Treasury Secretary Steve Mnuchin and Comptroller of the Currency Joseph M. Otting to strengthen the Community Reinvestment Act.
For years, banks have been fighting these requirements to lend to underprivileged people — and President Trump is listening as he continues his war on regulation. The irony is that these rules benefit the same “blue-collar people Donald Trump maintains he represents.
CNNMoney: Trump may weaken ‘outdated’ rules that force banks to lend to the poor Read More »
All signs point to Republicans next move– tear apart the social safety net.
Vanity Fair: With tax cuts in the bag, the White House ramps up it’s war on the poor Read More »
