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The project will deploy $20 million as secondary capital to expand economic relief and financial inclusion, and follows a $1 million project last summer aimed at helping low-income consumers in Rust Belt cities.January 14
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Several financial tech companies that applied to become national banks are seeking exemptions from many provisions of the Community Reinvestment Act. A consumer advocacy group and the American Bankers Association say the OCC mustn't allow this.January 13
CEOAmerican Bankers Association
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In a letter to credit unions, NCUA urged federally chartered shops to expand their fields of membership to underserved areas, regardless of geography, in order to boost financial inclusion in the wake of the pandemic.January 8
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The planned shutdown of Haven at the end of next month marks the close of an ambitious effort that brought together titans of technology and finance but struggled to demonstrate meaningful results.January 4
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Challenger banks aimed at Blacks, Hispanics, immigrants and other underserved groups are offering financial education and support for charities in addition to basic banking services.December 31
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Financial disparities have only worsened during the coronavirus pandemic. President-elect Biden’s team could address this issue by establishing an office of economic equality under the Financial Stability Oversight Council.December 7
Managing PartnerFederal Financial Analytics
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People with scores below 500 are often in communities that suffer the most from economic hardship and violence. Banks and regulators can do more to qualify them for financing, ultimately creating healthier local economies.December 2
Founder, Chairman and CEOOperation HOPE Inc.
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Some workers have thrived while working remotely, but others miss the social interaction of an office, and the recent surge in coronavirus diagnoses means employers will be facing these challenges well into next year.November 30
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More lenders and governments should partner with community development financial institutions to ensure aid reaches minority-owned businesses that are the backbone of many neighborhoods slammed by the coronavirus.November 18
Founder and ChairmanNext Street
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Jobs will be harder to find for graduates, and there are new underwriting platforms that can better predict students' future income in their chosen field.November 16
CEOClimb Credit
