News Topic: Community health

The agency overreached in its proposal to revamp the Community Reinvestment Act when it should have simply required branchless banks to invest more in areas where deposits are taken. ... Read full article

The Main Street Lending Program and other Federal Reserve loan facilities should be tailored to the needs of Black-owned banks and businesses. ... Read full article

A blueprint that includes more CRA and tax credits for lower-income African Americans would help a demographic disproportionately harmed by the coronavirus pandemic. ... Read full article

If the agency hadn’t revised the 1977 law now, nothing would be done for communities in need that are struggling even more in the coronavirus pandemic, writes Faith Bautista, CEO of the National Diversity Coalition. ... Read full article

Operation HOPE Chief Executive John Hope Bryant talks about how the Community Reinvestment Act influenced him at the age of 9 and eventually led to the founding of his nonprofit, which works with banks to help communities in need. But he says the 1977 law ... Read full article

Critics of the Community Reinvestment Act revamp want to freeze the rulemaking process. That would only delay financial help to New York and other hard-hit cities. ... Read full article

Coronavirus has taken bankers out of their comfort zone. But they should view adaptations they’ve made in confronting the pandemic as a chance to hone their emergency response skills, not a permanent new normal. ... Read full article

Regulators need to revamp their proposal to overhaul the Community Reinvestment Act now that the coronavirus outbreak has created unforeseen financial needs. ... Read full article

Small banks are a lifeline for many local businesses and should be given first crack at distributing funds from a continuation of the federal stimulus program. ... Read full article

Community advocates would like to see changes to the 1977 Community Reinvestment Act, but say regulators should suspend such efforts until the coronavirus pandemic has passed. ... Read full article

Banks and credit unions should make it their top priority to pair with the central bank in distributing financial relief to small businesses, even if that means putting everything else on hold. ... Read full article