tfeltner at woodstockinst
05-08-2007, 10:48 AM
Woodstock Institute is pleased to announce the release of Reinvestment Alert
31:* Measuring the Provision of Banking Services for the Underbanked:
Recommendations for a More Effective Community Reinvestment Act Service
Test.* The report details federal banking regulators’ methods for evaluating
how the largest banks deliver financial services to communities throughout
the Chicago region.* Looking at recent bank examinations, the report
examines how federal examiners evaluate the distribution of bank branches
and the quality and relative affordability of basic financial services, such
as checking accounts.* It found glaring omissions, inconsistent evaluation
methods and a lack of performance driven measurements.
*
The full report is available at:
http://www.woodstockinst.org/component/option,com_docman/Itemid,1/task,doc_download/gid,751/
*
Woodstock Institute and others have called on federal regulators to
supplement data on how bank branches are distributed, with data on how they
perform in reaching out to lower-income neighborhoods with appropriate and
affordable financial services.* All of this data is currently available to
bank examiners, but it has been only sporadically reported publicly,
substantially limiting its usefulness.
*
The availability of appropriate and fairly priced financial services is
critical for helping lower-income people enter the financial mainstream and
this neglect harms the financially underserved.* The implementation of the
service test needs major improvements before the test can capture the
reality of an institution’s delivery of banking services to lower-income
people and communities.*
*
Please do not hesitate to contact Geoff Smith, research director, at (312) 427-8070 or gsmith@woodstockinst.org with any questions about this report.
This post transferred from the cdb-l mailing list
31:* Measuring the Provision of Banking Services for the Underbanked:
Recommendations for a More Effective Community Reinvestment Act Service
Test.* The report details federal banking regulators’ methods for evaluating
how the largest banks deliver financial services to communities throughout
the Chicago region.* Looking at recent bank examinations, the report
examines how federal examiners evaluate the distribution of bank branches
and the quality and relative affordability of basic financial services, such
as checking accounts.* It found glaring omissions, inconsistent evaluation
methods and a lack of performance driven measurements.
*
The full report is available at:
http://www.woodstockinst.org/component/option,com_docman/Itemid,1/task,doc_download/gid,751/
*
Woodstock Institute and others have called on federal regulators to
supplement data on how bank branches are distributed, with data on how they
perform in reaching out to lower-income neighborhoods with appropriate and
affordable financial services.* All of this data is currently available to
bank examiners, but it has been only sporadically reported publicly,
substantially limiting its usefulness.
*
The availability of appropriate and fairly priced financial services is
critical for helping lower-income people enter the financial mainstream and
this neglect harms the financially underserved.* The implementation of the
service test needs major improvements before the test can capture the
reality of an institution’s delivery of banking services to lower-income
people and communities.*
*
Please do not hesitate to contact Geoff Smith, research director, at (312) 427-8070 or gsmith@woodstockinst.org with any questions about this report.
This post transferred from the cdb-l mailing list