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The Federal Deposit Insurance Corp. has lowered the Utah bank's CRA score to "needs to improve," putting other banks that work with high-rate lenders on notice.
February 7 -
The $7.1 billion-asset bank has established a partnership with the nonprofit HoneyBee that harks to its early days serving underbanked Korean business owners in Los Angeles in the early 1980s.
November 3 -
The industry needs a leader to be the face of a lawsuit challenging the proposal. The author nominates JPMorgan Chase's Jamie Dimon.
October 17Community Development Fund Advisors -
The report, which examined trends between 2010 and 2021, found that the country's biggest banks only opened 638 branches in low-to-moderate-income communities made up primarily of people of color. That accounts for just 15% of their total branch openings.
September 29 -
The Federal Reserve, state supervisors and other bank regulators said they would not penalize institutions that work with impacted borrowers following devastating storms in Florida and Puerto Rico.
September 29 -
Republican Sen. Pat Toomey criticized the degree of "opacity" surrounding some community benefit agreements, or written deals between banks and community groups ahead of a merger that often involve billions of dollars of commitments.
September 8 - AB - Policy & Regulation
Trade groups submitted a wide range of complaints to regulators throughout the Community Reinvestment Act's comment period, including concerns about the revamp's timeline and how the proposal would evaluate online banking activity.
August 8 -
Bank and financial services supervisors have an affirmative duty to address the deep economic divide facing minorities in the U.S.
June 29Better Markets -
The Community Reinvestment Act has failed to reduce anti-Black racial discrimination in financial services, to lower poverty or to lessen environmental destruction.
June 22Creative Investment Research -
The central bank has a long history of diluting the effectiveness of the Community Reinvestment Act.
May 18Community Development Fund Advisors