Kenneth H. Thomas
PresidentKenneth H. Thomas, Ph.D., president of Miami-based Community Development Fund Advisors LLC, taught finance at the University of Pennsylvania’s Wharton School for over 40 years. He is the author of The CRA Handbook.
Kenneth H. Thomas, Ph.D., president of Miami-based Community Development Fund Advisors LLC, taught finance at the University of Pennsylvania’s Wharton School for over 40 years. He is the author of The CRA Handbook.
The industry needs a leader to be the face of a lawsuit challenging the proposal. The author nominates JPMorgan Chase's Jamie Dimon.
The number of Federal Reserve banks should be cut in half and their bank regulatory responsibility should be transferred to other agencies.
The central bank has a long history of diluting the effectiveness of the Community Reinvestment Act.
The key for bankers to stay safe from mystery shoppers using aggressive techniques — many of whom are well funded by community investment pacts with megabanks — is to adhere to proper lending practices 24/7.
Current regulations barring out-of-state banks from siphoning deposits from local communities are effectively toothless, as the experience in Miami has shown.
The relaxation of Community Reinvestment Act and fair-lending enforcement by the OCC after President Trump took office deprived minority and low-income applicants in Memphis who sought credit from the bank for far too long.
Large banks have received CRA credit for Paycheck Protection Program loans and all types of modifications two to three times more frequently than small banks. The latter need to press examiners to recognize the contribution they’ve made to their communities.
High-tech videoconferencing is no replacement for high-touch in-person meetings. Yet some bank directors who are vaccinated remain hesitant to return to boardrooms.
The next administration must halt the practice of allowing new entrants into the banking system to forgo a full Community Reinvestment Act exam.
The next administration must halt the practice of allowing new entrants into the banking system to forgo a full Community Reinvestment Act exam.