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Community Reinvestment Act Changes Expected to Benefit Low- and Moderate-Income Communities
January 3, 2020
The Community Reinvestment Act was enacted in 1977 as a direct response to redlining, an unethical practice whereby banks and other lending institutions made it extremely difficult, if not impossible, for residents of poor, inner-city communities to borrow money, get a mortgage, take out insurance or access other financial services. Redlining did not take into consideration an individual’s qualifications or creditworthiness. ... read more »
You may have to give more personal data to get personal loan
January 2, 2020
Would you feel comfortable disclosing your bank account information on a personal loan application? What about your work history? Your college major? That’s what it could take to borrow money from some loan companies that consider alternative data which can be anything that isn’t in your credit report when deciding whether to approve your loan application. ... read more »
Community Reinvestment Act Changes Expected to Benefit Low- and Moderate-Income Communities Proposed Changes to the Community Reinvestment Act (CRA)
January 2, 2020
The OCC hopes stakeholders will carefully review the proposed changes and submit comments so that a final rule can be issued in the first half of 2020. ... read more »
Rep. Chu Holds Oversight Hearing on SBA’s 504/CDC Program
December 12, 2019
The hearing allowed members to hear directly from witnesses from the CDC community regarding their experience with the program. ... read more »
Federal Regulator Ready to Reform CRA But Won’t Say If Discrimination Exists
June 28, 2018
According to the report, Black consumers are the only racial/ethnic group that has made no appreciable progress in homeownership over the past 30 years. ... read more »
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