MCBC Bulletin - Fall 2017
MCBC Bulletin helps you to stay current and get connected. Read on for more info about upcoming events, program updates, committee activities, and news from the community reinvestment field.
Community Reinvestment Act Turns Forty

Passed in 1977, the Community Reinvestment Act (CRA) celebrates its fortieth anniversary this fall. CRA ensure that banks meet the credit needs of communities in which they operate, many of them traditionally underserved. The mission of MCBC depends on the legacy and foundation of CRA, that financial institutions and community organizations can work together to enhance opportunity in low and moderate income communities and communities of color.

Whether you are new to CRA or a seasoned professional, MCBC has a way for you to get involved to ensure that CRA continues to have a positive impact. Join us for a CRA Basics training for community development professionals in December or our Changing Patterns XXIV Forum in January. And Save the Date for an exciting event with Richard Rothstein, author of The Color of Law. Sign up to have your Financial Institution participate in Basic Banking for Massachusetts or join MCBC as a Financial Institution Member. Learn more about the benefits below.

And as always, check out the Community Reinvestment Digest News to stay current and get connected from the comfort of your own desk.

Happy 40th CRA! 
In This Bulletin

Do you fully understand opportunities available for your organization through the Community Reinvestment Act? What does CRA mean for you as a community development professional? Come and learn about the basics of the CRA, and how you can most effectively access opportunities and connect with lenders through the CRA. This session is aimed at community development professionals, not financial institution staff.

Please join us for a session with the Mel King Institute, " CRA Basics: Accessing Opportunities for Communities" on Wednesday, December 13th from 9:00 AM-12:00 PM at Boston Private Bank.

  Register for the Event Here

Join MCBC as Jim Campen, the report's author, presents the data from Changing Patterns XXIV. This interactive session will then use the report tool to explore with a panel of experts why these patterns have emerged and allow participants to dig into the data and issues behind them to have an in-depth conversation on issues of racial and income disparities, homeownership barriers, and emerging patterns of concern. The focus of this event will be exploring and developing proposed solutions to improve mortgage lending in underserved communities. The report will be released in January, prior to the event. To view past year's reports, go to 

Please join us for this collaborative event on Tuesday, January 23, 2018, 9-11:30 AM at MassHousing, One Beacon Street, Boston, MA 02108. Refreshments will be served.

Register for the Forum via Mel King Institute here
ColorofLawSave the Date for MCBC Event with Richard Rothstein, Author of The Color of Law, on March 27th

MCBC is pleased to announce that Richard Rothstein, author of The Color of Law: A Forgotten History of How Our Government Segregated America will be speaking at an MCBC event in Boston on Tuesday, March 27th, 8:30-11 AM at MassHousing.

In The Color of Law (published by Liveright in May 2017), Richard Rothstein argues with exacting precision and fascinating insight how segregation in America - the incessant kind that continues to dog our major cities and has contributed to so much recent social strife - is the byproduct of explicit government policies at the local, state, and federal levels.

Save the Date for March 27th. More details and invitations to the event will be shared soon. 

Basic Banking for Massachusetts  was launched in 1994 to expand access to bank products and services and to encourage those with modest incomes to establish banking relationships.  Banks participating in  Basic Banking for Massachusetts voluntarily provide low-cost checking and savings accounts that meet prescribed guidelines
When you sign up for Basic Banking for Massachusetts, consumers can find your bank and your basic banking product on our searchable website You will also receive a letter for your CRA file. 

Membership in MCBC is open to all banks, thrift institutions and credit unions. MCBC helps financial institutions to stay current on all of the information needed to meet CRA requirements and reach customers, while helping to connect with the community organizations and programs operating in target neighborhoods.

In accordance with State regulation, MCBC's activities, if benefiting a Financial Institution's assessment(s) or a broader statewide or regional area that includes the institution's assessment area(s), the Division will consider a state-chartered institution's membership dues to MCBC a qualified investment.
With more than 150 representatives from banks, credit unions, mortgage lenders, community organizations, public organizations, regulatory groups, trade organizations and others currently participating in and learning about MCBC committee activities, members are connecting with the right people and the most important information in a meaningful way. 

Click here to learn more and join MCBC for the upcoming year.

Community Reinvestment Digest News

A regular feature of MCBC Bulletin is the Community Reinvestment News Digest, in which we share a round-up of recent CRA-related news stories and reports. MCBC does not necessarily endorse the opinions expressed in the following articles, but is sharing the links for your use, discussion and information, and to keep the conversation going between our regular meetings and events.
Ashland forms new tax relief fund from The MetroWest Daily News

The Effects of the 1930s HOLC "Redlining" Maps from Federal Reserve Bank of Chicago

Using Credit Reporting Agency Data To Assess the Link Between the Community Reinvestment Act and Consumer Credit Outcomes from CityScape

Revisiting the CRA: Perspectives on the Future of the Community Reinvestment Act from The Federal Reserve Banks of Boston and San Francisco

Business leaders step up efforts to bring minority-owned firms into the fold from The Boston Globe

U.S. Community Development Lenders Look to Expand Impact, Footprint from Next City

Despite Progress, States Have Work to do to Ensure Access to Affordable Rental Housing and Homeownership from Shelterforce

Are homes only for the upper-class? From Commonwealth Magazine

What the CFPB's New Payday Lending Rule Means for Consumers from Consumer Reports

How mortgage lenders can help borrowers with student loans buy homes from National Mortgage News

Minorities get slim share of contracts: City requests proposals to study disparity from The Bay State Banner

Santander announcing $11 billion program from The Boston Globe

First time homebuyers fall to 4th lowest share since 1981 from HousingWire

A new city goal: Boost credit scores of 25,000 Bostonians from The Boston Globe

Chipping Away at Implicit Bias from Shelterforce

Massachusetts Community & Banking Council | 800-982-8268
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