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Community Reinvestment: In the News

Items 1 - 10 of 14  12Next

1930s Rochester redlining maps show discrimination (Democrat & Chronicle)

In the late 1930s, the federal Home Owners' Loan Corp. (HOLC) had the powerful responsibility of grading neighborhoods across the country to decide whether home mortgage refinancing there would be insured by the government. Read More

Long Island Communities Trying to Recover From the Foreclosure Crisis Lack Access to Mortgage Lending

Empire Justice Center Report finds that this key aspect of an economic recovery is not reaching low income families and communities of color Read More

Report: Bank policies worsen foreclosure crisis in areas (News 12 Long Island)

A new report claims certain communities may be suffering more from the foreclosure crisis because of bank policies. Read More

Concerted investments in needy communities continue (Rochester Business Journal)

While some people may question whether the Community Reinvestment Act remains relevant today, others firmly believe it still serves a purpose. Financial institutions tend to take their CRA commitment very seriously and work to meet its requirements. Read More

Many Long Island Communities Face Long Term Impact of Foreclosures

Study identifies hardest hit towns and strategies to keep families in their homes and limit damage to the local tax base. Read More

LI's minority enclaves hit hard by foreclosure (Newsday)

Long Island communities with the highest concentrations of houses slated for foreclosure are also the neighborhoods where many black and Hispanic residents live, reflecting a disproportionate impact of the housing crisis for minority groups, according to a new study of foreclosure warning notices sent by banks. Read More

Putting “Community” Back in “CRA” (Shelterforce)

Putting “Community” Back in “CRA” Read More

Report finds FHA/VA Lending Disproportionately Prevalent in Neighborhoods of Color

Leading community organizations, including Empire Justice Center, today report evidence of a two-tiered mortgage market characterized by high rates of government-backed loans made both to borrowers in communities of color and to minority borrowers in their new report, “Paying More for the American Dream VI: Racial Disparities in FHA/VA Lending.” Read More

Small Banks Shift Charters to Avoid U.S. as Regulator (The New York Times)

A small community bank in New Hampshire found a demand from its regulator last month just too much. Read More

Justice Department Alleges GFI Mortgage Bankers Engaged in Illegal Lending Discrimination (The US Department of Justice)

The Department of Justice and the U.S. Attorney’s Office for the Southern District of New York filed a lawsuit alleging that GFI Mortgage Bankers Inc., a mortgage banker with operations in seven states, violated federal fair lending laws by charging African-American and Hispanic borrowers higher interest rates and fees on home mortgage loans because of their race or national origin, not based on their creditworthiness. Read More