iOS app Android app

Community Reinvestment Act

Stop Goldman Sachs from Acquiring GE Capital Bank Deposits

John Taylor | Posted 11.14.2016 | Politics
John Taylor

In August of this year, news broke that Goldman Sachs plans to acquire certain assets and liabilities of GE Capital Bank, as General Electric downsizes its financial services division. Under the proposed transaction, Goldman would obtain around $16 billion of deposits. Goldman Sachs must not be allowed to grow through this transaction.

'Too Big to Fail' Banks: Glimmers of Hope

Preeti Vissa | Posted 04.26.2015 | Business
Preeti Vissa

Last December I wrote about a bank merger deal that could create yet another "too big to fail" bank from the smoking embers of two of the very banks that helped blow up our economy in 2008: OneWest Bank (formerly IndyMac) and CIT Bank. While I'm baffled that this merger is still pending, I'm happy to report a bit of good news.

Community Reinvestment Act Can Boost Energy-efficiency, Funding for Low-income Schools

Kathleen Rogers | Posted 04.26.2015 | Green
Kathleen Rogers

What if we could secure billions of new private dollars for school energy-efficiency projects in low-income disadvantaged areas and allow the resulting energy savings to remain with each school?

Losing Fannie and Freddie: A Terrible Idea

Harlan Green | Posted 05.16.2014 | Politics
Harlan Green

There was a reason Fannie Mae (Federal National Mortgage Association) and Freddy Mac (Federal Home Loan Mortgage Corporation) were government created entities, before they became private corporations in the 1970s.

Success in Impact Investing Through Policy Symbiosis

Ben Thornley | Posted 04.29.2014 | Impact
Ben Thornley

Co-authored with Cathy Clark and Jed Emerson. Some may be surprised to hear it, but impact investing would barely exist -- certainly not at its curr...

When Banks Swallow Each Other, You Deserve a Voice

Preeti Vissa | Posted 01.23.2014 | Business
Preeti Vissa

The massive wave of bank megamergers that took off in the 1990s had plenty of unfortunate results, including the invention of the phrase "too big to fail." Fewer mergers are happening now, but the ones that do happen can have a huge impact on communities.

Fair Housing Is More Than Just a Roof Over Your Head

Noel A. Poyo | Posted 10.11.2013 | Latino Voices
Noel A. Poyo

When it comes to eliminating housing discrimination, knowledge is power. The U.S Departments of Justice and Housing and Urban Development (HUD) have filed and successfully resolved many housing discrimination cases, and most of these cases began because someone said "Enough!"

Blaming the Victim, Redux: More Hijinx Around the Causes of the Financial Crisis

Ray Brescia | Posted 05.05.2013 | Business
Ray Brescia

The Businessweek cover plays into a long-standing trope that portrays borrowers of color as having caused the crisis because they supposedly took out loans they knew they could never repay. The only thing wrong with it is that it has no basis in fact.

Time for Banks to Start Serving Communities Again

John Taylor | Posted 08.19.2012 | Politics
John Taylor

The reason why the government stands behind the banks and insures them is because they are integral to our communities' growth and progress. If the banks turn their back on those communities, they have gotten away from their core purpose and do us all a grave disservice.

Another Conservative Myth Busted -- Did Fannie and Freddie Really Cause the Financial Sector Meltdown?

Marvin Meadors | Posted 08.11.2012 | Politics
Marvin Meadors

Another Big Lie circulating among conservatives is the belief that the Wall Street meltdown was caused by Fannie Mae and Freddie Mac, the Community Re...

Janell Ross

Foreclosure Crisis Erases Hard-Won Wealth, Dreams Even In Center Of Black Affluence | Janell Ross | Posted 09.25.2012 | Business

BOWIE, Md. -- In the spring of 2007, a few months after Osita Otigba and his wife, Peace, moved to Balk Hill, a new subdivision then being busily deve...

Republican Truth and Real Truth: GSEs and the Housing Bubble

David Coates | Posted 03.30.2012 | Politics
David Coates

The main rewrite now underway in their twice-weekly televised clashes is a rewrite on housing finance.

How the U.S. Government Promoted Segregation

Preeti Vissa | Posted 12.11.2011 | Politics
Preeti Vissa

For every dollar a white family owns, the median Latino family has six cents and the median black family has a nickel. That staggering gap didn't happen by chance.

Truth and Nonsense About Mortgage Lending, the Housing Collapse and Homeownership

Preeti Vissa | Posted 11.28.2011 | Business
Preeti Vissa

There may be no subject that has generated more nonsense from politicians and pundits than the subprime mortgage crisis and housing market collapse.

Another Zombie Lie: Republicans Blame Minorities (and Liberals) for Financial Crisis

Jonathan Weiler | Posted 05.25.2011 | Business
Jonathan Weiler

Last week, an old zombie lie was resurrected when the Financial Crisis Commission of Inquiry reached an impasse.

Financing the Economic Recovery in the New Congress

Richard H. Neiman | Posted 05.25.2011 | Business
Richard H. Neiman

No matter how the new Congress decides to proceed towards job creation, there is low-hanging fruit that can be exploited at no cost to the taxpayer -- namely the Community Reinvestment Act.

How the Community Reinvestment Act Helped One Small Business Thrive

Dory Rand | Posted 05.25.2011 | Business
Dory Rand

North Chicago Auto Service is a solid small business with deep ties to its community. Which is why its owner, Richard Otero-Cintrón, was so surprised to learn that his long-time bank had rejected his loan application.

New Data Show That Vacant, Foreclosed Properties Are a Rising Concern for Chicago Region Communities

Dory Rand | Posted 05.25.2011 | Chicago
Dory Rand

In the first three quarters of 2010, more than 25,000 homes in the Chicago region completed the foreclosure process and were repossessed by the lender.

Reducing Income Inequality: The Next Phase of True Financial Reform

Ray Brescia | Posted 05.25.2011 | Business
Ray Brescia

If the Dodd-Frank was designed to prevent future disasters from occurring, it should have taken a look at income inequality as one of the causes of the crisis.

A New Season for Community Investment

Dory Rand | Posted 05.25.2011 | Business
Dory Rand

CRA has a 30-year track record of success and, thanks to these proposed provisions, it will evolve with the needs of the new economy. CRA will extend its influence and continue to direct mainstream banks to underserved communities to ensure that families are not excluded from a fair lending market.

Fight Brewing Over the Best Law You've Never Heard of

Preeti Vissa | Posted 05.25.2011 | Politics
Preeti Vissa

What if there was a law that told big corporations that they have responsibilities to the communities they serve? There is. It's called the Community Reinvestment Act and a fight over it's future is brewing in Congress.

When the Rich Get Risky: Inequality and Financial Crises

Ray Brescia | Posted 05.25.2011 | Politics
Ray Brescia

One of the most striking--and perhaps most underreported--aspects of the financial crisis is reflected in one economic indicator. The chart below tra...

Why We Must Modernize CRA: More and More Financial Activity is Taking Place at Non-CRA-regulated Institutions

Dory Rand | Posted 05.25.2011 | Business
Dory Rand

As bank regulators take a close look at modernizing the Community Reinvestment Act (CRA), we're walking you through some key reasons why CRA must be updated.

Move Your Money: Bank Regulators Hold Hearings in Los Angeles

Dennis Santiago | Posted 05.25.2011 | Los Angeles
Dennis Santiago

These hearings that could improve the Community Reinvestment Act, the 1977 law designed to ensure banks remain connected to communities. Regulators decided it may be time to update how this law is enforced.

Sensible Reforms Needed to Shield Housing Finance from Wall Street's Malfeasance

John Taylor | Posted 05.25.2011 | Politics
John Taylor

If the Obama Administration is serious about protecting the average American, then Fannie and Freddie must have a public role in the financial markets. Don't throw out the baby with the bath water.