A top federal bank regulator has floated no longer enforcing lending rules for the poor based on the locations of a bank’s physical branches, a change likely to be opposed by NCRC and other community groups.
Wall Street Journal: Shake-up considered on how banks lend to the poor 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 »
The Federal Reserve may change decades-old rules that require banks to lend to low-income borrowers as part of a broader effort to revise a range of banking regulations, the U.S. central bank’s head of regulation and supervision said on Monday.
Reuters: Federal reserve may review rules on lending to the poor Read More »
In its classically quiet fashion, the Government Accountability Office (GAO) recently released a significant study, asking the Treasury Department to improve data on CRA exams.
Data Drives the Movement for Economic Justice, and Bank Deposits 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 »
A letter to Treasury Secretary Steve Mnuchin on the Trump Administration’s review of the Community Reinvestment Act.
CBC: To Trump Administration – don’t weaken the Community Reinvestment Act 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 »
An analysis of 31 million mortgage records made available under the Home Mortgage Disclosure Act found 61 metro areas across America where people of color were denied conventional home purchase loans at significantly higher rates than whites.
WTOP: Kept out: loophole in law for the poor spurs gentrification Read More »
The Community Reinvestment Act is worth strengthening to fight discrimination.
Bloomberg: Banks still need a nudge to be colorblind Read More »
As regulators look to update the Community Reinvestment Act, they should better integrate online and mobile banking activity as part of exam performance.
American Banker: BankThink digital banking needs to be front and center in CRA reform Read More »
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 »
