In the News

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

Kiplinger, March 29, 2024, Capital One/Discover: What’s In Their Wallet For You? The group — which includes the Consumer Federation of America, Consumer Reports, and the National Community Reinvestment Coalition (NCRC) — urged that a public hearing be held on the matter. It called on the Federal Reserve, the Office of the Comptroller of the

New York Times, March 22, 2024, Regulators Rethink Big Bank Deal The Discover deal was already poised for tight scrutiny. Rohit Chopra, the director of the Consumer Financial Protection Bureau, told DealBook that the credit card market had been consolidating for years, and that “any proposed transaction is going to get a very close look.” Progressive advocacy groups

Reuters, March 21, 2024, Exclusive: CapOne Tells Regulators Discover Deal Will Boost Competition And Stability “This is a key test of the federal merger review framework,” said Jesse Van Tol, CEO of the National Community Reinvestment Coalition, a community lending advocacy group which opposes, opens new tab the deal. A spokesperson for the OCC confirmed it had

Eurweb, March 20, 2024, $6.7 Million Dollar SOS Initiative Impacts 28 National Organizations & Single Moms Additional funders of Share Our Strength’s family economic mobility work include the Robert Wood Johnson Foundation and the Sodexo Stop Hunger Foundation. Lead partner organizations include:

Tampa Bay Times, March 15, 2024, TD Bank Launches $20B Community Impact Plan to Empower Underserved Communities TD Bank, America’s Most Convenient Bank®  announced a three-year Community Impact Plan that will provide an estimated $20 billion supporting lending, philanthropy, banking access and other activities for the benefit of diverse and underserved communities. This strategy, developed

US Department of Housing and Urban Development, March 12, 2024, HUD Awards $2.75 Million To Train And Equip Skilled Housing Counseling Professionals The U.S. Department of Housing and Urban Development’s (HUD) Office of Housing Counseling announced today it has awarded $2.75 million in grants to seven nonprofit organizations to fund training and education for current