With a growing elderly population, projected to nearly double from 52 million to 95 million in the next 40 years, age-friendly banking is more important than ever.
Today, the Office of the Comptroller of the Currency (OCC) announced it will propose to rescind its controversial Trump-era rules weakening the Community Reinvestment Act (CRA) and work with other banking regulators to adopt a clear, strong and consistent update to the CRA.
DC Women’s Business Center surveyed 274 small business owners in the D.C. metro area to learn how the COVID-19 pandemic and economic downturn affected their businesses.
President Biden’s directive today could help stem the tide of bank consolidations around the country. We have long urged the nation’s regulators to strengthen their anti-competitive review of these transactions.
The program awarded $1.3 million to 65 small businesses through grants of up to $20,000 each that do not need to be repaid to fund projects that will help businesses across the U.S. pivot, drive innovation, and grow in a challenging economic landscape.
Wealth equity is intrinsically tied to health equity. Hospitals and health systems are stepping into the community development arena more frequently as there are many opportunities for them to partner with banks and other financial institutions to reduce economic disparities that could reduce health disparities.
The National Community Reinvestment Coalition (NCRC) submitted a detailed comment letter to five federal agencies yesterday, outlining how consumers should be protected when lenders use artificial intelligence (AI) and machine learning (ML) to underwrite loans.
The True Lender rule, originally finalized in October 2020 by the Office of the Comptroller of the Currency (OCC), permitted national banks to use their charters to facilitate high-cost loans through rent-a-bank relationships with predatory lenders.
A June 29, 2021, joint letter from NCRC, Affirm (NASDAQ: AFRM), Lending Club (NYSE: LC), Oportun (NASDAQ: OPRT), PayPal Holdings Inc (NASDAQ: PYPL), Square (NYSE: SQ) and Varo Bank, asked the CFPB to update its guidance on disparate impact to reinforce the Equal Credit Opportunity Act (ECOA) and Regulation B
Today, the Department of Housing and Urban Development (HUD) published a rule reinstating its Discriminatory Effects Standard, which ensures that housing practices that appear neutral in their design do not create or perpetuate discrimination on the basis of race, ethnicity, religion and other groups protected under the Fair Housing Act.
Today, the US. House of Representatives voted 218-208 in favor of H.J. Resolution 35, a Congressional Review Act resolution concurrent to S.J. Resolution 15, to nullify the harmful Trump-era True Lender rule.
This is a pivotal moment for Fannie Mae and Freddie Mac, for the mission in their charters, and the role they can and must play in facilitating access to affordable housing and affordable mortgage credit for low- and moderate-income (LMI) households, for families and communities of color and rural communities.