May 31

OCC Debuts Program to Expand Financial Inclusion

first_img fcd1aa2d-5b26-4754-ab6b-8342360620f8The Office of the Comptroller of the Currency (OCC) is teaming with leaders in the financial services industry and civil rights organizations on a new program designed to increase access to credit and capital by underserved communities.The new Project REACh–Roundtable for Economic Access and Change–will focus on policy and structural issues at both local and national levels, with the goal of widening the scope of financial inclusion. Acting Comptroller of the Currency Brian P. Brooks acknowledged Project REACh was created in response to the wave of social justice protests that occurred after George Floyd’s death in Minneapolis police custody.“The recent civil unrest across our country emphasizes that too many people have been left out of our nation’s economy,” said Brooks, who hosted the first Project REACh roundtable meeting at the OCC on July 10. “While we applaud others who have made large financial contributions to address immediate needs, Project REACh will focus on policy and structural changes that can help more people participate in our economy and prosper in the same way so many others have.”Brooks added that one of the structural barriers to be addressed by this endeavor involves the status of nearly 50 million Americans who lack a credit score.“That does not mean those individuals are uncreditworthy, but it likely means they cannot get a traditional loan,” he stated. “We can fix that and similar problems that will make access to credit easier and more affordable for millions of people.”Project REACh’s participants from the financial services industry include Citigroup CEO Michael Corbat; JPMorgan Chase Co-President and COO Gordon Smith; Huntington Bank Chairman, President and CEO Steve Steinour; and Michael Weinbach, CEO of Consumer Lending at Wells Fargo. The civil rights organizations participating in the project include the NAACP, National Urban League, and U.S. Hispanic Chamber of Commerce.The OCC’s endeavor is part of an increasing wave of attention focused on racial inequities within the consumer credit sector. Last week, Redfin released a report that found 15.9% of African Americans were rejected in their mortgage applications, compared to only 7% of white applicants. Last month, the National Association of Realtors (NAR) proposed a five-point plan to increase homeownership among African American homeowners and narrow the rate gap between white and African Americans. In April, Zillow published a data analysis that determined nonwhite households faced a greater level of housing insecurity related to the economic tumult in the COVID-19 pandemic than their white counterparts.  Print This Post OCC Debuts Program to Expand Financial Inclusion Share Save The Best Markets For Residential Property Investors 2 days ago Previous: Share of Mortgages in Forbearance Drops Next: New Law Extends Protections for Reverse Mortgages The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / OCC Debuts Program to Expand Financial Inclusion Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: OCC underserved borrowerscenter_img Phil Hall is a former United Nations-based reporter for Fairchild Broadcast News, the author of nine books, the host of the award-winning SoundCloud podcast “The Online Movie Show,” co-host of the award-winning WAPJ-FM talk show “Nutmeg Chatter” and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill’s Congress Blog and Profit Confidential. His real estate finance writing has been published in the ABA Banking Journal, Secondary Marketing Executive, Servicing Management, MortgageOrb, Progress in Lending, National Mortgage Professional, Mortgage Professional America, Canadian Mortgage Professional, Mortgage Professional News, Mortgage Broker News and HousingWire. Servicers Navigate the Post-Pandemic World 2 days ago July 14, 2020 1,434 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Servicers Navigate the Post-Pandemic World 2 days ago About Author: Phil Hall Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago OCC underserved borrowers 2020-07-14 Mike Albanese in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days agolast_img read more

August 5

David Warner and his daughter Indi give Bollywood a run for their money with…

first_imgAdvertisement f2dNBA Finals | Brooklyn Vs93Wingsuit rodeo📽Sindre E70yg( IG: @_aubreyfisher @imraino ) vv0aWould you ever consider trying this?😱qhbprCan your students do this? 🌚djRoller skating! Powered by Firework It seems that Australian opener David Warner is making the most out of the quarantine period with his family. The swashbuckling southpaw made his debut on social networking app Tiktok earlier this week, but on Saturday, Warner won the internet after posting a video, where he could be seen shaking legs with his younger daughter Indi-Rae on the Bollywood popular song ‘Sheila ki Jawani.’Advertisement Image Credit: IG/davidwarner31-HungamaIn the hilarious video, Warner’s younger daughter Indi was seen donning an Indian dress and dancing with her father to the superhit number ‘Sheila Ki Jawani’ that features Katrina Kaif.“Indi has asked to also do one for you guys! please help me someone.” Warner captioned the post.Advertisement The 33-year-old then uploaded a short clip of his dancing prowess on his Instagram account while it gathered over 250,000 views under an hour.Earlier this week, Warner took to Instagram to share the news of his Tiktok debut in a video along with his two daughters Ivy-Mae and Indi.“Ok, I have zero idea what’s going on but have been told to do tik tok by my 5 year old @davidbullwarner31 and I have zero followers I need some help please and they love @tonesandi,” Warner wrote beneath the post.Sunrisers Hyderabad’s marquee opener was supposed to lead his team in the 13th version of the Indian Premier League, but the ongoing global coronavirus pandemic has led to the cancellation of the tournament.Meanwhile, the Board of Control for Cricket in India (BCCI), on Thursday confirmed that the cash-rich league has been postponed indefinitely.“Due to the evolving global health concerns regarding COVID-19 and lockdown measures implemented by the Government of India to contain the spread of the pandemic, the IPL Governing Council of the BCCI has decided that the IPL 2020 Season will be suspended till further notice,” Jay Shah, the BCCI Honorary Secretary said in a press release. You may also like:Big update on IPL 2020 after lockdown extension!Shikhar Dhawan shares hilarious video pleading with his wife for respite from household chores!   Advertisementlast_img read more