Underserved Communities news and trends

Fed Overhauls Community Reinvestment Act to Adapt to Online Banking
Bank Regulation // October 24, 2023

The Federal Reserve has reportedly finalized a revamp of the Community Reinvestment Act (CRA) rules, which were enacted in 1977 to combat discriminatory lending practices in minority neighborhoods. The updated rules aim to address the challenges posed by the rise of online banking and mobile transactions, shifting...

KeyBank Launches Homebuyer Assistance Program for Underserved Communities
Real Estate // July 06, 2023

KeyBank has launched a homebuyer assistance program for underserved communities. The new KeyBank Neighbors First Credit program provides credits of up to $5,000 to help homebuyers in underserved communities in Florida and the 15 states in which the Cleveland-based bank has a retail footprint, KeyBank said...

Maintaining Physical Bank Branches Keeps Cash Alive In Underserved European Communities
Digital Banking // October 17, 2022

From the vinyl revival to the enduring appeal of film photography, analog technologies that many thought would give way to the rising tide of digitization have in fact remained culturally and economically relevant, even if they no longer play the leading role they once did....

JPMorgan To Invest $125M In Underserved Communities
Financial Inclusion // May 15, 2019

JPMorgan Chase announced Wednesday (May 15) it is investing $125 million over the next five years to help the financial health of underserved communities across the globe. In a press release, JPMorgan Chase said it is working with community organizations to help develop products and services...

Quick Reads
Fed Overhauls Community Reinvestment Act to Adapt to Online Banking

October 24, 2023
The Federal Reserve has reportedly finalized a revamp of the Community Reinvestment Act (CRA) rules, which were enacted in 1977 to combat discriminatory lending practices in minority neighborhoods. The updated rules aim to address the challenges posed by the rise of online banking and mobile transactions, shifting the focus from physical branch locations to where banks conduct […]

KeyBank Launches Homebuyer Assistance Program for Underserved Communities

July 06, 2023
KeyBank has launched a homebuyer assistance program for underserved communities. The new KeyBank Neighbors First Credit program provides credits of up to $5,000 to help homebuyers in underserved communities in Florida...

JPMorgan To Invest $125M In Underserved Communities

May 15, 2019
JPMorgan Chase announced Wednesday (May 15) it is investing $125 million over the next five years to help the financial health of underserved communities across the globe. In a press release,...

Aura Completes $50M Social Bond For 32K+ Loans

March 21, 2019
Aura, a community development financial institution that provides cost-friendly loans to families, has completed a $50 million private social bond issuance, the company announced on Thursday (Mar. 21). The money...