NCRC

Next City, March 12, 2024, Why The Community Reinvestment Act Is Back In The News – Again Over at Fast Company, financial journalist James Surowiecki writes that the Capital One-Discover merger could be a boon for consumers and business owners, who could see lower swipe fees with the addition of a larger competitor to Visa and MasterCard. […]

Financial Times, March 8, 2024, How Steven Mnuchin Pulled Off A $1bn Deal To Steady A Teetering US Bank OneWest, as IndyMac was renamed, made headlines for its hard-knuckled approach to evictions and debt collecting, foreclosing on tens of thousands of homes. But when it was eventually sold in 2015 to CIT, Mnuchin’s consortium of

Building Indiana Business, March 3, 2024, First Financial Bank And NCRC Announce $2.4B Community Benefits Agreement First Financial Bank has entered into a new $2.4 billion, five-year Community Benefits Agreement (CBA) with the National Community Reinvestment Coalition (NCRC) and related partner organizations, establishing goals for lending and investments to low- and moderate-income (LMI) clients and census

Jacobin, March 6, 2024, Credit Card Lenders Are Getting Rich Off Your Late Fees “It is very difficult to imagine how federal regulators could allow Capital One to buy Discover given the requirement that mergers benefit the public as well as insiders,” said Jesse Van Tol, the president of the National Community Reinvestment Coalition, in a

Whyy, February 26, 2024, Philly’s Racial Wealth Gap Is Wider Now Than In 1960. Here Are Programs Working To Fix It Vicky Diaz-Camacho/WHYY, National Community Reinvestment Coalition, National Bureau Of Economic Research

The Washington Post, February 22, 2024, Congress Can Pass Reparations Now To Fix This 150-Year-Old Injustice Jesse Van Tol is president and CEO of the National Community Reinvestment Coalition, an organization promoting racial economic justice policy. Should the US government pay reparations for slavery? That question dominates the long-running discussion about righting centuries of wrongs committed

The American Prospect, February 22, 2024, Capital One–Discover Merger Tests Bank Regulators’ Merger Approach Already, several advocacy groups have come out against the merger proposal, including the National Community Reinvestment Coalition, which has fought Capital One in particular for several years. Sen. Josh Hawley (R-MO) said on Wednesday that the deal should be blocked, joining Sen. Elizabeth Warren,

American Banker, February 20, 2024, 5 Key Drivers Of The Capital One-Discover Merger The deal is subject to regulatory approval and it’s already raised concern among watchdog groups like the National Community Reinvestment Coalition for its potential to combine two of the largest credit card issuers’ portfolios. But Capital One’s plan to flow a significant

POLITICO, February 20, 2024, What’s Washington’s Appetite For Bank M&A? The National Community Reinvestment Coalition said it opposes the merger. NCRC president and CEO Jesse Van Tol slammed Capital One’s record in previous deals and said the takeover would pose “massive” antitrust concerns because of the vertical integration between Cap One’s credit card lending and Discover’s card

Reuters, February 20, 2024, Discover Financial Rises On Capital One’s $35 Billion Deal, Payment Processors Fall The deal was opposed by Washington-based advocacy group National Community Reinvestment Coalition. “It is very difficult to imagine how federal regulators could allow Capital One to buy Discover given the requirement that mergers benefit the public as well as