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Gentrification—the process of neighborhood demographic and economic change in which middle- and upper-income people move into lower-income neighborhoods, increasing home values and rent prices—has intensified in large cities and metropolitan […]

Seldom in legislation as complex as the recently enacted Financial Services Modernization Act does any group get everything it wants. In this case, however, I suspect that nearly everyone involved […]

Does banking legislation have the potential to either devastate or revitalize working class and minority neighborhoods? Well, consider the following scenario. A hard-working single mother rises early and commutes from […]

A simple, yet likely powerful, explanation has now been offered for the subprime mortgage-lending and foreclosure problems that have fed the nation’s gravest economic crisis since the Depression. Its simplicity […]

Banks enjoy consumer and taxpayer-funded privileges, such as deposit insurance, and not too long ago, subsidized trillion-dollar bailouts. It’s not too much to insist that they invest a fair share of those dollars back into all of our communities.

$393 billion. That’s the amount banks have committed to lend in low and moderate income communities nationwide since the Community Reinvestment Act (CRA) went into effect 20 years ago. By […]

Congress Guts CRA The bill that emerged from conference committee negotiations over the financial modernization bills, H.R. 10 and S. 900, would gut the Community Reinvestment Act (CRA). The new […]

Shortly after the passage of the Financial Modernization Act, a banker was heard to say to Phyllis Salowe-Kaye, the executive director of New Jersey Citizen Action, “Now you folks are […]

National Advocacy Groups Write to Leach, Banking Committee Democrats On CRA By Allen Fishbein Twelve national community reinvestment and housing development groups have written to House Banking Committee Chair Jim […]

Financial regulators proposed yesterday to allow all activities carried out under the auspices of NSP to count toward a lender’s CRA compliance. This would only last as long as NSP […]

Something astonishing happened when the Consumer Financial Protection Bureau (CFPB) asked the public for comments on its proposed rule to curb high-cost and abusive payday loans: the CFPB received 1 […]

In an effort to undercut future public investment in the nation’s infrastructure, Phil Gramm, former chair of the Senate Banking Committee and currently with the Swiss bank UBS, once again […]