Wednesday, July 21, 2010

FDIC Holds Hearings on CRA Reform

Yesterday, the FDIC held hearings in Arlington, VA as part of a four-day event to discuss reforming the Community Reinvestment Act (CRA).  The CRA was created in 1977 to address discriminatory lending practices and redlining and to encourage commercial banks to meet the needs of all borrowers in their communities.  Lisa Hall, our Executive Vice President and Chief Lending Officer, participated in the hearings that focused on the CRA and Community Development.  Click on the links below to read the testimonies from Lisa and other industry leaders in Community Development.

  • Lisa Hall, Executive Vice President and Chief Lending Officer, Calvert Foundation
  • Michael Rubinger, President and CEO, Local Initiatives Support Corporation
  • Terri Ludwig, Executive Vice President and COO, Enterprise Community Partners
  • Dorothy Broadman, Board Member, National Association of Affordable Housing Lenders and Senior Vice President, Capital One
  • Julie Gould, Senior Vice President, Community Investment and Impact, Mercy Housing
  • Sarah Gerecke, Executive Director, New York University, Furman Center

To watch the webcast of the event, click here.

Thursday, July 8, 2010

All You Need is Love!

Millions of people around the world have looked to billionaire businessman and philanthropist Warren Buffet for advice.  But what would he consider the best advice he's ever received?  According to Buffet in an exclusive interview Yahoo! News and the Huffington Post, it is the power of unconditional love from a parent and how it can put a child on the right path in life.  To him, the ability to experience that type of love can greatly impact a child's upbringing, turning them into better people.  Sage advice from a man known to rarely be wrong...

Read the full interview here .

Wednesday, July 7, 2010

Sam's Club reaching out to small businesses

Sam's Club announced today that it will begin to offer loans ranging from $5,000 to $25,000 to some of its small business club members. This program is designed to help address the problem of decreased access to capital that many of Sam's Club's members have faced in this tough economic period and will mainly focus on lending to businesses owned by minorities, women, or veterans. In light of the continuance of credit restrictions and difficulty in obtaining loans, Sam's Club is joining other companies in creative solutions to allow their customers to bypass banks and traditional lenders.

Read more about this program here.