Access to Banking Services - Blog Posts

September 15, 2010

As the recession drags on, policymakers and community leaders are searching for strategies to encourage job creation, investment in neighborhoods, and a return to economic stability. The findings from our latest report, however, depict troubling barriers to recovery—particularly in communities hit hardest by the financial crisis.

August 27, 2010

As bank regulators take a close look at modernizing the provisions of the Community Reinvestment Act (CRA) through a series of hearings and public comment period (you have until August 31 to submit comments), we’re walking you through some key reasons why CRA must be updated. We’ve gone over how assessment areas don’t fully capture where a bank does business and why a broader scope of financial institutions must be covered by CRA. Today we’ll explain how CRA doesn’t meaningfully measure how banks are providing retail banking services to low- and moderate-income people.

August 27, 2010

As bank regulators take a close look at modernizing the provisions of the Community Reinvestment Act (CRA) through a series of hearings and public comment period (you have until August 31 to submit comments), we’re walking you through some key reasons why CRA must be updated. We’ve gone over how assessment areas don’t fully capture where a bank does business and why a broader scope of financial institutions must be covered by CRA. Today we’ll explain how CRA doesn’t meaningfully measure how banks are providing retail banking services to low- and moderate-income people.

August 16, 2010

You can still make your voice heard on the need to improve the Community Reinvestment Act, even if you were not able to attend last week's hearing on CRA modernization at the Federal Reserve Bank of Chicago.

August 5, 2010

People with disabilities, advocates, and government officials recently celebrated the 20th anniversary of the Americans with Disabilities Act (ADA) at the White House. While acknowledging that much progress has been made, participants agreed there is still a long way to go to achieve inclusion and opportunities for the one in five U.S. residents who have disabilities—that’s 54 million people, including 7 million who receive federal Supplemental Security Income (SSI) benefits.

June 7, 2010

More women will declare bankruptcy than get college degrees this year. Over one quarter of U.S. households are unbanked or underbanked, and 85 percent of these consumers are people of color. For every dollar that white Americans have, Latinos have 12 cents and African-Americans have 10 cents.

May 20, 2010

Chase CEO Jamie Dimon has refused requests of Woodstock Institute and colleagues for a meeting to discuss the deleterious effects of its consumer lending and mortgage loan modification practices on our communities, but I finally got a chance to speak to him directly at the Chase shareholder meeting in New York on May 18.

April 19, 2010

It is likely that the ongoing financial and economic crisis has left a lasting, negative impact financial stability of many of Chicago’s most vulnerable populations, including communities of color.  Credit scores, bankruptcy filings, and other issues have become increasingly important to long-term financial stability because they directly impact access not only to credit, but also access to basic banking and even employment.

April 19, 2010

It is likely that the ongoing financial and economic crisis has left a lasting, negative impact financial stability of many of Chicago’s most vulnerable populations, including communities of color.  Credit scores, bankruptcy filings, and other issues have become increasingly important to long-term financial stability because they directly impact access not only to credit, but also access to basic banking and even employment.

April 1, 2010

Safe, sustainable mortgage lending is an essential ingredient for an economic recovery, and Woodstock Institute’s Online Community Lending Fact Book answers the question on everyone’s mind: “When will lending pick up, and where?”

April 1, 2010

Safe, sustainable mortgage lending is an essential ingredient for an economic recovery, and Woodstock Institute’s Online Community Lending Fact Book answers the question on everyone’s mind: “When will lending pick up, and where?”

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