In the News

CU Today, March 13, 2022, New bill would give NCUA some third-party vendor oversight; DCUC, NAFCU support ‘Underserved’ Act Thaler told Congress  these numbers have only grown over the last two years during the pandemic, as banks closed more than 4,000 branches since March of 2020, according to an independent National Community Reinvestment Coalition study. […]

NWI Times, March 11, 2022, Old National Bank to invest $8.3 billion in minority and low-income communities “We appreciate the leadership and commitment of Old National—and that of Jim Ryan in particular—to collaborate with us and our members to create this impactful community agreement,” said Jesse Van Tol, President and CEO of NCRC. “With this

Inequality.org, March 8, 2022, Reckoning’ with the Economic Marginalization of Native Americans Through years of intentional governmental policies that took away their lands and resources, American Indians have been separated from the wealth and assets that were rightfully theirs. Today, we see a consistent lack of information on Native Americans and their socioeconomic issues. Our

Fast Company, March 8, 2022, The 10 most innovative companies with fewer than 10 employees In the wake of a pandemic that hit Black, brown, and low-income communities disproportionately, the NCRC Community Development Fund (CDF)—a subsidiary of the National Community Reinvestment Coalition—amassed millions in capital to help these communities recover. In May, when the U.S. Treasury awarded

American Banker, March 8, 2022, Community groups withhold support of U.S. Bank-Union Bank deal — for now Key community groups told regulators Tuesday that they aren’t yet supportive of U.S. Bancorp’s pending acquisition of MUFG Union Bank, as they engage in negotiations to establish a series of tangible public benefits. Before regulators approve any merger,

Banker and Tradesman, March 7, 2022, Fed Approves M&T Bank, People’s United Deal More than a year after announcing plans to acquire Connecticut-based People’s United Bank, Buffalo-based M&T bank has received the final regulatory approval needed to complete the merger. Some commenters did have concerns about the deal, including several who asked the Fed to

Billionaire Club Co LLC, March 3, 2022, Community Reinvestment Act (CRA) Definition The Office of the Comptroller of the Currency in May 2020 issued a final rule to “strengthen and modernize” existing Community Reinvestment Act regulations. According to a news release, the proposed changes received more than 7,500 comments from stakeholders in response to the

The Sunflower, March 3, 2022, OPINION: Critical race theory should be required in K-12 schools Although the Fair Housing Act of 1968 aimed to end redlining, imprints of previous policy remain prevalent. According to a study by the National Community Reinvestment Coalition, 74 percent of the redlined neighborhoods 90 years ago are low-to-moderate income neighborhoods today;

American Banker, March 4, 2022, Fed approves M&T’s acquisition of People’s United Two weeks after delaying the deadline to close its acquisition of People’s United Financial, M&T Bank on Friday received the Federal Reserve’s approval. The central bank’s blessing, announced late Friday afternoon, was the final regulatory thumbs-up that Buffalo, New York-based M&T needed to complete the

The Crimson, March 3, 2022, Beth Huang’s vision of civic engagement For Boston, a city with a deep history of both immigration and racist policies such as redlining, these advancements in labor have come in tandem with other, harmful trends. Foremost among them is a surge in gentrification and the resulting displacement of poorer communities,

Roll Call, March 1, 2022, Unimpressed with post office banking trial, backers eye new initiative Postal banking is a catchall term for financial services offered through the Postal Service, including checking and savings accounts, small loans, and nonbank services such as cash machines or check cashing. Research by the University of Michigan in May 2021

Boston Globe, March 2, 2022, Kim Janey to track historical landmarks in Boston Foundation appointment The effort comes in part as a response to growing gentrification in the city, where rising housing prices and other costs of living are pushing residents out — especially Black residents, who were systemically excluded from building wealth through the

CounterPunch, March 2, 2022, The movements for Black electoral power and Black economic power cannot be separated Currently only 3 percent of all U.S. senators are African American, though Blacks are 13 percent of the American population. There are currently no Black governors, which shows a lack of political strength at the statewide level. According

The Center for Public Integrity, March 1, 2022, Small business lending looks unequal. Getting the data has been a battle. Secret-shopper tests of lenders by the National Community Reinvestment Coalition have found unequal treatment of Black and Hispanic testers compared with less qualified white testers. The tests also found disparities in treatment of women compared

Reporter Wings, February 28, 2022, Which vision for bank merger reform will win out? Community development advocates, including the National Community Reinvestment Coalition, would also like to see regulators put a greater emphasis on the importance of bank branches in a given market or neighborhood in the wake of a potential merger. “With the advent