In the News

The Garden Island, April 30, 2024, Capital One To Buy Discover For $35 billion Consumer groups are expected to put heavy pressure on the Biden Administration to make sure the deal is good for consumers as well as shareholders. “The deal also poses massive anti-trust concerns, given the vertical integration of Capital One’s credit card […]

Black News Portal, April 27, 2024, Breaking The Cycle: Dismantling Systemic Barriers To Minority Funding Op-Ed By J. Byron Brazier Local branches allow entrepreneurs to establish personal, trusting relationships with bankers, and those bonds can be a boon to small-business owners seeking financing. Banks consider “soft information” about business customers’ creditworthiness—qualitative data gathered over the

American Banker, April 23, 2024, Climate Change, Stifled Mergers And Other Challenges Facing Banks And Investors Community benefits plans have become commonplace in connection with acquisitions as banks seek to outline to regulators how their deals will satisfy Community Reinvestment Act requirements. Such agreements often include pledges to expand banking services in low- and moderate-income

Crain’s Cleveland Business, April 8, 2024, KeyBank Restores Partnership With National Community Reinvestment Coalition After severing ties with KeyBank in 2021 and branding the business as the “worst major mortgage lender for Black homebuyers” in 2022, the National Community Reinvestment Coalition has announced a renewed partnership with the company. The partnership, announced last week during

Buffalo News, April 4, 2024, KeyBank, Community Coalition Renew Ties With $25M Plan Jesse Van Tol, president and CEO of the Washington, D.C.-based coalition, announced a $25 million agreement with Key to “work together to ensure greater levels of investment in minority and underserved communities.” The NCRC had worked with Key on developing a $16.5 billion

Bankingdive, April 4, 2024, KeyBank, NCRC Team Up On $25M Pledge KeyBank and the National Community Reinvestment Coalition announced Wednesday a collaborative effort to improve the bank’s lending in nonwhite communities, a year after the fair-lending advocacy group raised concerns about KeyBank’s mortgage lending practices. KeyBank has pledged $25 million to address issues previously highlighted by the

HousingWire, April 3, 2024, Barr: Fed Is Taking ‘Thoughtful Approach’ To Basel III Rules “We gave the public extra time to comment on the rule because it was really complex. We’re analyzing those comments,” Barr said Wednesday afternoon during a conference hosted by the National Community Reinvestment Coalition (NCRC) in Washington, D.C. “I expect them to make

Nonprofit Quarterly, April 3, 2024, How To Preserve Existing Affordable Housing: The Value Of Human Scale Between 2000 and 2013, the National Community Reinvestment Coalition found that DC had the greatest “intensity of gentrification” of any US city. During this period, the study also estimates that the city lost 20,000 Black residents. In 1957, DC became the first

Bloomberg, April 3, 2024, Bank Stress From Empty Offices A ‘Slow Moving Train,’ Barr Says “There are pockets of risks in the system,” Barr said at an event hosted by the National Community Reinvestment Coalition in Washington. “We’re looking at things like, what’s the level on unrealized losses on the balance sheet from securities? We’re

American Banker, April 3, 2024, CFPB’s Rohit Chopra Warns Of ‘Creep Of Consolidation” In Bank M&A Chopra touted recent efforts by federal regulators to enhance scrutiny of bank mergers in a speech at the National Community Reinvestment Coalition’s conference Wednesday. He added that regulators had lost focus on the best ways to evaluate whether a

American Banker, April 3, 2024, KeyBank Diffuses Community Tensions With New Agreement The National Community Investment Coalition announced Wednesday that Cleveland-based KeyBank has pledged $25 million as part of an “agreement” between the two parties that could open the door to a new community benefits plan. One year after the National Community Reinvestment Coalition asked

Cleveland.com, April 3, 2024, Fair-Lending Advocate, KeyBank Announce Plans To Rekindle Relationship NCRC said the new agreement shows that persistence pays off. “Good friends tell their friends when they’ve gotten off track,” NCRC Jesse Van Toll said in a speech Wednesday. “And NCRC is a good friend.” The dispute between KeyBank and NCRC stemmed from

Cambridge Day, April 1, 2024, Banking Local Is More Important Than Ever One such high-profile merger has been between Capitol One and Discovery. “Capital One is a notorious bad actor even at its current size, and should not be allowed to further concentrate market power,” said Jesse Van Tol, president and chief executive of the National Community

Arkansas Advocate, March 29, 2024, Specialized Banks To Serve The Unbanked The Answer To Minimizing Poverty, Arkansas Founder Says “It doesn’t matter if you don’t make it to the NBA or the NFL or into the entertainment industry,” he added. “I’m a barber by trade, so you can use what you have. There’s a saying,

Ballard Spahr, March 27, 2024, CFPB Addresses ASC Appraisal Bias Hearings and Structure of The Appraisal Foundation Director Chopra advises that the Foundation is funded through fees that appraisers across the country must pay. In particular, appraisers must pay to receive the Uniform Standards of Professional Appraisal Practice (USPAP) published by the Foundation. Witnesses at