Banks have tightened standards, becoming more choosy about their borrowers and asking a lot of questions.
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After the eviction cliff, a different U.S. housing crisis looms: Low-cost home production is lagging, thanks to construction slowdowns and budget cuts.
Warren said the CFPB’s guidance issued to mortgage servicer companies is allowing the companies to break the law and harm consumers.
“If it is possible for banking to actually play a role in shifting the wealth gap and significantly bringing assets to the most disenfranchised, you’re going to have to flip the model around,” said Moreno. “There is nobody I can think of who can flip the model around better than Malia Lazu.”
In 1936 a widowed black woman bought a home and it changed her family’s financial worth for generations. Today homeownership rates of black people lag even further behind whites’ rates, affecting their ability to build wealth.
The rescue plan helped the wrong businesses, saved too few jobs, and failed to stem an economic nightmare with no end in sight.
Analysts say the memos recast the USPS as a business rather than a government service
If we’re stuck with online school to keep teachers and students safe, we need to think harder about ways to make it more equitable, experts say.
Atlanta-based online lender Kabbage Inc said on Wednesday that it will offer checking accounts for small businesses, making it the latest financial technology startup to expand its offering to a broader suite of banking services.
Creators of the Racial Equity Index hope the data tool has launched at the right moment to spur policy to fix racial economic disparities.
Two key pieces of federal community-development legislation are the Low Income Housing Tax Credit and the Community Reinvestment Act (CRA). Rulemaking by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation also acts as an important lever for influencing CRA implementation.
Breonna Taylor’s family claims her death was linked to Louisville’s redevelopment plan. Experts say it’s plausible
The bank processed more than 12,000 loans over $150,000. It reported giving only one to a Black-owned company
A billion dollars. That’s how much the leader of a respected Chicago nonprofit says JPMorgan Chase Bank needs to invest in the city’s Black and Latino neighborhoods to make up for gaping racial disparities in lending documented recently by WBEZ and City Bureau.
The COVID-19 crisis brought more users to Square, Venmo and PayPal thanks to direct deposits of stimulus payments