Links to media coverage of NCRC.
To request an interview with NCRC experts, send a note to: media@ncrc.org.
Gothamist, July 10, 2023, What if NYC had its own public bank? There are billions of reasons to consider it, report says. New York City is missing out on thousands of new affordable apartments and billions of dollars in local investments without a publicly owned bank to deposit its cash, according to an analysis by […]
The Epoch Times, July 7, 2023, IN-DEPTH: Bank Branch Closures Leave Vacant Buildings, Inconvenienced Customers 9 percent of all branch locations in the United States closed between 2017 and 2021, according to a report (pdf) by the National Community Reinvestment Coalition (NCRC). It amounts to a loss of about 7,500 brick-and-mortar locations. The branch closure
Orlando Business Journal, July 4, 2023, These banks have closed the most Central Florida branches so far this year the National Community Reinvestment Coalition tracked over 9,882 bank branches that have closed nationwide over the past five years, including 2,457 bank branches during 2021-22. Why this matters:Banks have changed how they approach branches as more
American Banker, June 30, 2023, BankThink No Deposit Insurance Hikes Without More Social Accountability For Banks If the government is going to back deposits at a higher level, banks need to earn that extra subsidy by getting serious about underwriting the public good. Any deposit insurance hike should be conditioned upon the banking trades ending
American Banker, June 21, 2023, Santander US unveils three-year community benefits plan Santander US committed $13.6 billion this week to community reinvestment and sustainable finance initiatives. The bank’s community benefits plan was developed in partnership with the National Community Reinvestment Coalition and more than 30 local organizations. It was not created in connection with efforts
American Banker: Santander US unveils three-year community benefits plan Read More »
Maryland Matters, June 20, 2023, Advocates: A Maryland Community Reinvestment Act needed to invest in underserved communities Another statute passed by Congress in 1977 was the Community Reinvestment Act (CRA), which is meant to ensure banks and other financial institutions meet investment needs in the low- and moderate-income communities around them. But two groups —
American Banker, June 12, 2023, PayPal swoops into lending markets that banks abandoned PayPal and its rivals may be targeting areas previously served by community banks, but large banks have also been deemphasizing branches. Bank branches in general have had a net decline from more than 100,000 in 2009 to about 80,000 in 2022. And Self Financial reports that branches are
American Banker: PayPal swoops into lending markets that banks abandoned Read More »
Bloomberg, June 12, 2023, Reforms to Home Appraisal Bias Target Algorithms and Tech National Community Reinvestment Coalition President Jesse Van Tol said in a press statement that the new AVM rule was “welcome news.” “As the financial industry experiments with powerful tools at the bleeding edge of technology’s new reach, our government has a duty
Bloomberg: Reforms to Home Appraisal Bias Target Algorithms and Tech Read More »
American Banker, June 8, 2023, After Buying Bank Accused Of Redlining, Cadence Gets Top CRA Score Last year, Cadence and the National Community Reinvestment Coalition announced a five-year, $20.7 billion community benefits plan. The commitment included $11.8 billion of mortgages to homebuyers of color and low- and middle-income borrowers, $6.5 billion of loans to certain small
American Banker: After Buying Bank Accused Of Redlining, Cadence Gets Top CRA Score Read More »
The American Prospect, June 5, 2023, Predatory Lending’s Prey Of Color MS. LILLIE SHOULD NEVER HAVE BEEN subject to a predatory loan. She worked at a hospital for 14 years, retiring at 65. Her pay was “reasonable.” For the most part, she was supporting herself. Still, she would find herself needing a boost for necessities, like
The American Prospect: Predatory Lending’s Prey Of Color Read More »
The Grio, June 3, 2023, Vice President Harris Leads New Charge To Address Racial Bias In Home Appraisals Jesse Van Tol, president and CEO of the National Community Reinvestment Coalition, said in a public statement that he is particularly hopeful that the plans to diversify the appraisal industry will “cure one of the core issues
Connecticut Public Radio, May 24, 2023, Connecticut Reaches Baby Bonds Deal Officials hope the program will help break cycles of generational poverty. It’s on track to begin in July, after being in political limbo for quite some time. This hour, we look at what it will mean for Connecticut residents — and why it took
Connecticut Public Radio: Connecticut Reaches Baby Bonds Deal Read More »
Banking Dive, May 26, 2023, NYC Regulator Halts City Deposits At Capital One, KeyBank The National Community Reinvestment Coalition praised the banking commission for including public comments in the process. “KeyBank and Capital One have atrocious track records of not just under-serving but actively harming the interests of low-wealth communities and people of color,” CEO Jesse Van Tol said in
Banking Dive: NYC Regulator Halts City Deposits At Capital One, KeyBank Read More »
Insurance NewsNet, May 28, 2023, Menendez, Booker Cosponsor New And Improved Family Act In Fight For Universal Paid Leave This legislation has been endorsed by nearly 70 national organizations, including: American Muslim Health Professionals, Asset Building Strategies, Campaign for a Family Friendly Economy, Caring Across Generations, Center For Economic And Policy Research, Center for Law and Social Policy (CLASP), Child Welfare
The Buffalo News, May 23, 2023, KeyBank CEO Chris Gorman Confident About Financial Footing Despite Industry Turmoil The National Community Reinvestment Coalition contends the audit was spurred by pressure from shareholders and the Service Employees International Union Master Trust. Key said it had discussed the possibility of a racial equity audit with a number of
