NCRC cuts ties with Keybank, CRA comments, and more!

NCRC Black wo [email protected] ([link removed] )

Just News

for December 9, 2022

News and views from the National Community Reinvestment Coalition. Find more at ncrc.org ([link removed] ) .

For continuous updates, follow us on Twitter ([link removed] ) , FB ([link removed] ) , LinkedIn ([link removed] ) and I ([link removed] ) G ([link removed] ) .

Announcements

#WelcomeMe #FairHousingMatters Challenge

By NCRC

Help us stop housing discrimination once and for all. Tell everyone, everywhere what it means to have a home, neighborhood, community free from discrimination. [Learn More ([link removed] ) ]

News

REPORT: KeyBank Promised To Improve, Then Became The Worst Major Mortgage Lender For Black Homebuyers

After pledging to better support underserved communities if regulators approved a 2016 merger, KeyBank instead became, by one measure, the nation’s worst major mortgage lender for Black homebuyers, the National Community Reinvestment Coalition revealed Thursday in a new report. [Read more ([link removed] ) ]

Views

NCRC And Co-Plaintiffs’ Legal Victory Means Mortgage Lenders Must Comply With More Robust Fair Lending Reporting Requirements

By Brad Blower and Anneliese Lederer

In a victory for consumers and strong fair lending monitoring, the Consumer Financial Protection Bureau will enforce more robust reporting requirements under the Home Mortgage Disclosure Act (HMDA) beginning in 2023. [Read more ([link removed] ) ]

Long-Awaited Small Farm Loan Data Will Play Vital Role In Closing Race, Gender Divides

By Josh Silver

Examining the transformative potential of an underappreciated piece of a long-awaited small business lending regulations. [Read more ([link removed] ) ]

CRA Comments Review, Part 3: What Are Banks And Trade Groups Worried About – Or Embracing?

By Joe Reed

In Part One of this series ([link removed] ) on commenter themes, we looked at race and small business ideas. Part Two ([link removed] ) covered health care and climate resiliency themes. Here in Part Three, we identify areas of emphasis from the banking industry itself. [Read more ([link removed] ) ]

CRA Comments Review, Part 2: What Do Healthcare And Climate Resiliency Advocates Want From Regulators?

By Joe Reed

In Part One of this series ([link removed] ) on commenter themes, we looked at race and small business ideas. Here in Part Two, NCRC will review comments that mentioned health care and climate resiliency. [Read more ([link removed] ) ]

Research

REDLINED: KeyBank Failed Black America Despite Its Commitments To Improve

Jason Richardson and Jad Edlebi

KeyBank disregarded commitments to improve lending to Black homeowners and potential homeowners. Federal data shows KeyBank now ranks at the bottom among the 50 largest mortgage lenders in the nation in the percentage of its borrowers who are Black, live in majority-minority or LMI neighborhoods and are people of color. [Read more ([link removed] ) ]

Events

2023 Just Economy Conference

March 29-30

The Just Economy Conference is the national event for community, business, foundation, policy and government leaders who want a nation that not only promises but delivers opportunities for all Americans to build wealth and live well. National and local luminaries, visionaries and changemakers gather to network, share ideas, learn and ask hard questions to chart out a better future. [Register here ([link removed] ) ]

In the News

KeyBank Is The 'Worst Major Mortgage Lender For Black Homebuyers,' Report Says

By Jeremy Nobile, Crain's Cleveland Business

KeyBank has failed on promises to support Black and low- and moderate-income borrowers when it comes to homeownership and has, in fact, become the "nation's worst major mortgage lender for Black homebuyers," according to an extensive new report by the National Community Reinvestment Coalition ([link removed] ) titled "Redlined: KeyBank Failed Black America Despite its Commitments to Improve ([link removed] ) ." [Read more ([link removed] ) ]

Community Coalition Criticizes KeyBank Over Lending

To Black Customers

By Matt Glynn, The Buffalo News

The National Community Reinvestment Coalition said it has stopped working with Key on extending a community benefits plan that the Cleveland-based bank developed in partnership with the NCRC, when Key was acquiring First Niagara Bank six years ago. [Read more ([link removed] ) ]

BMO Unveils $40 Billion Community Benefits Plan

By Rajashree Chakravarty, Banking Dive

BMO developed the plan with input from more than 85 community groups through listening sessions facilitated by the National Community Reinvestment Coalition and the California Reinvestment Coalition. [Read more ([link removed] ) ]

On Our Radar

Respect For Marriage Act Clears Congress With Bipartisan Support

By Ximena Bustillo, Juma Sei and Deepa Shivaram, NPR

Both the House and the Senate have passed the Respect for Marriage Act, which codifies same-sex and interracial marriages. The bill will head to President Joe Biden's desk to be signed into law, which is expected to happen soon. [Read More ([link removed] ) ]

Top Stablecoin Firms Are Under Federal Investigation

By David Dayen, The American Prospect

Stablecoin legislation is the most likely crypto policy in the next Congress. But the top firms all face questions from law enforcement. [Read more ([link removed] ) ]

Resources

A DC Hub For Nonprofits, Events And Work

For nonprofits and social sector ventures in DC: Do your work and meetings at the new Just Economy Club in DC. It’s hosted by NCRC in the historic Union Trust building at 15th and H Streets, just around the corner from The White House. [Read more ([link removed] ) ]

Learning & Training Hub

Register for NCRC's catalog of professional development courses for community development leaders. [Learn ([link removed] ) more ([link removed] ) ]

Research And Reports

We have an extensive library of research and reports that dates back many years; now available in one convenient location! [View all ([link removed] ) ]

Racial Wealth Snapshots

Browse our catalog of socioeconomic briefs and infographics. [View all ([link removed] ) ]

Sign And Share The Just Economy Pledge

America should not only promise but deliver to all Americans opportunities to build wealth and live well. Sign the pledge and share it to help us expand the movement for a Just Economy. [Sign and Share ([link removed] ) ]

Member Hub

NCRC members: Don't forget you have access to our member hub ([link removed] ) ! Learn more about membership here ([link removed] ) . You can join as an organization or an individual ([link removed] ) .

Fair Lending Tool

Use our interactive tool to produce a report on mortgages, small business lending and bank branch networks for any city, county or metro area in the nation. [Access the tool here] ([link removed] )

TreasureCRA Page

CRA will be essential for COVID-19 economic recovery in the communities hardest hit by the pandemic. Use the tools on this page to reach your friends and local leaders. [Read more] ([link removed] )

Support our work

Join the Just Economy Club, the network for individuals who support NCRC’s research, publishing, investigations, training, advocacy and programs. Join Here ([link removed] )

Jobs

We are always looking for talented people.

Click here to see job openings. ([link removed] )

Twitter ([link removed] )

Facebook ([link removed] )

LinkedIn ([link removed] )

Instagram ([link removed] )

Website ([link removed] )

Copyright © 2022 NCRC, All rights reserved.

Manage Preferences/Unsubscribe ([link removed] )

National Community Reinvestment Coalition

740 15th St NW, Suite 400

Washington,DC xxxxxx