Partnership for Financial Equity

Thomas Callahan, executive director of the Massachusetts-based Partnership for Financial Equity, said the edict had a “chilling effect.”

“Every bank we’ve talked to is at a minimum re-examining whether they want to continue,” Mr. Callahan said.

“…the results offer insights into how financial institutions and regulators can build trust with unbanked households and promote greater financial inclusion.” Thank you @urbaninstitute.bsky.social for elevating our research on trust in banking among low-income households.

Consumers with Low Incomes Often Distrust Mainstream Financial Services. New Data Shed Light on the Reasons Results from a survey of households with low incomes offer insights into how financial institutions and regulators can build trust with unbanked households a…

New blog out on @urbaninstitute.bsky.social about what new data from @financialequity.bsky.social tells us about trust in banking, the role of fed regulation and policy, and how banks can strive for market share + pursue financial inclusion at once: www.urban.org/urban-wire/c...

Our research breaks new ground in understanding more about why lower income residents do and do not trust banks. Read the full report authored by @amaliezinn.bsky.social, Jason Andrade, @thomascallahan.bsky.social. lnkd.in/e_X8cNSy @massincpolling.bsky.social @urbaninstitute.bsky.social

Honored to host Anna Gifty Opoku-Agyeman at our Financial Equity Summit where she addressed the ongoing attacks on DEI, persistent pay disparities facing women of color, and offered a powerful defense of Federal Reserve Governor Lisa Cook. @itsafronomics.bsky.social

photos: @lensofwes on Instagram

September 8th is the deadline to nominate your favorite bank-community partnership! $1,000 to three winners in the categories of #mortgagelending / #homeownership; #smallbusinesslending; and #bankingservices / #assetbuilding. lp.constantcontactpages.com/sv/M9a8tak/E...

Exciting to be starting new research with the @financialequity.bsky.social on trust in banking! Stay tuned…nore updates and details to come.

Our Director of Research and Membership Engagement Jason Andrade met up with @amaliezinn.bsky.social, research analyst at @urbaninstitute.bsky.social at the recent @cfefund.bsky.social Bank On National Conference in DC.

We are thrilled to announce Jason Andrade, CFP® as our Director of Research and Membership Engagement! financialequity.net/announcement...

Agencies announce intent to rescind 2023 Community Reinvestment Act final rule The federal bank regulatory agencies today announced, in light of pending litigation, their intent to issue a proposal to both rescind the Community Reinvestme

Not a shocker really. Federal Reserve Board caves (with help from the OCC, FDIC) on the Biden-era Community Reinvestment Act rewrite that banks had sued to stop and was being held up. The regulators rescind the rule (give up on any defense in the lawsuit).

www.federalreserve.gov/newsevents/p...

Great event in DC yesterday co-sponsored by @aspeninstitute.bsky.social and Responsible Business Lending Coalition on the need for truth-in-lending legislation to rein in certain fintechs and merchant cash advance companies that prey on small business owners with undisclosed high APRs. #PFEinDCweek

Join us on Feb 13th. us02web.zoom.us/meeting/regi...

CFPB halts work after Trump appoints Bessent as acting head The consumer watchdog agency was formed in the wake of the 2008 financial crisis. Elon Musk wants to “delete” it.

President Donald Trump on Monday appointed Treasury Secretary Scott Bessent as the acting director of the Consumer Financial Protection Bureau, a powerful watchdog agency whose operations Bessent immediately halted pending a review.

Welcome to our three new board members.

Deb Leonczyk is Executive Director of Berkshire Community Action Council; Henry Noël Jr. is the Investment Director for the Boston Impact Initiative Fund; and Bobbie Salgado manages @firstcitizensbank.bsky.social CRA and Community Development Officer team.

Read this excellent piece by @riquier.bsky.social in @usatoday.com www.usatoday.com/story/money/...

We elevated equity this yesr with our first ever awards for innovation in mortgage lending, small business lending and responsive banking services Congrats! financialequity.net/announcement...

Join us! #financialequity

Lets talk bank branch closures and banking deserts this morning @philadelphiafed.bsky.social us02web.zoom.us/meeting/regi...

First ever joint meeting of our CRA Peer Group, co-chaired by Vanessa Greene, Tom Golden & Delisa Joseph and CRA Community Council, co-chaired by Symone Crawford, Keith Fairey & Maritza Crossen met today at @mahahome.bsky.social. Great turnout. Good energy. Outstanding brainstorming. Stay tuned.

Our latest small business lending report is out today showing access to capital gaps for businesses in our Gateway Cities. Over one-third of businesses in the Commonwealth’s Gateway Cities are in low-income tracts but receive just 22.9% of the number of loans from financial institutions.

The share of unbanked Americans is at its lowest level since the FDIC began keeping track in 2009. www.fdic.gov/news/press-r...

Join us this morning at 9am for a preview of our soon-to-be-released Small Business Lending Matters report. us02web.zoom.us/meeting/regi...

FDIC unbanked survey is out today.

The unbanked rate is down modestly from 2021 to 2023 (4.5 percent to 4.2). However, unbanked rates among households of color remained several times higher than the unbanked rate among White households.