Responsible Banking

About

Banks are key community financial institutions, with an obligation under the Community Reinvestment Act (CRA) to lend and provide services equitably, and to reinvest in the areas where they do business. Too often, however, banks do not act as responsibly as they should, and underserve or even harm low- and moderate-income New Yorkers, people of color, immigrants, and other marginalized populations.

Why This Matters

Banks matter to people and communities; people need a place to do their banking, and community groups need financing to support their missions to build affordable housing, increase access to jobs, and more. Responsible banking ensures that these financial institutions are being held accountable to our neighborhoods, offering New Yorkers access to banking and credit, including small business loans or loans to buy an affordable home. It also ensures that tenants are not at-risk of harassment, fueled by speculative loans.

What We're Doing

ANHD is holding banks accountable to the New York City communities they serve to ensure just and equitable banking through policy research, coalition building, and organizing and advocacy.

Recognizing that the CRA only works if the community gets involved, we provide original research, including our annual “State of Bank Reinvestment in NYC” report, and regularly submit comments on CRA exams, as well as advocate for banks to have forward-looking CRA plans at the time of mergers.

We are tackling the “predatory equity” crisis by using sophisticated building finance and market research to identify the most-at risk buildings, and working with our network of organizing groups to proactively outreach to banks and ensure their lending practices are sound. We are also advocating for banks to adopt principles of responsible multifamily lending to ensure that their lending does not fuel displacement.

Check out the associated projects below for more information on how we are fighting for responsible banking.

Recent Blogs and Media

Blog
October 10, 2018
Department of Financial Services (DFS) issues guidance on responsible multifamily lending
Blog
September 5, 2018
A Once-In-A-Lifetime Opportunity to Help Make The CRA More Equitable

Related Resources

Recent trends in 1-4 family home lending in NYC based on newly released Home Mortgage Disclosure Act data from 2012 to 2014
As much as New York City is a city of renters, nearly a third of New Yorkers own their own homes.  Responsible, affordable homeownership has long been recognized as an important way for people to...
An analysis of economic development-related bank reinvestment activity in NYC, how the Community Reinvestment Act support economic development activities, and the lost opportunities in NYC.
Testimony on the value, impact, and importance of the CRA and recommendations for it moving forward.
An annual analysis of local bank reinvestment activity and the impact of the Community Reinvestment Act
The Association for Neighborhood and Housing Development (ANHD) today released its annual report, State of Bank Reinvestment in NYC: 2014 analyzing the local impact of the Community Reinvestment Act...
A guide for communities to use the City's new Responsible Banking Act law to push banks the better meet the needs of our local neighborhoods.
As the new City Administration begins to make important policy choices to shape a new economic development policy, the Association for Neighborhood and Housing Development (ANHD) is releasing a new...
Demystifying the category of economic development within the Community Reinvestment Act to encourage more strategic, intentional and equitable bank reinvestment in New York City.

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