Last month, MCBC hosted Leader Bank, Dorchester Bay Neighborhood Loan Fund, and Merrimack Valley Housing Partnership. As a result, we learned:
- 32 down payment assistance (DPA) programs assist ~425 people in 67 of the Commonwealth’s 351 cities and towns annually.
- Some cities and town do not exhaust their funding for DPA programs
- Dorchester Bay has a new online lending platform and marketing plan to grow the pipeline of small businesses receiving capital in 2020 and beyond.
- It started out as a small business in 2002. Fast forward to today, Leader Bank has $1.5 billion in assets and is a top 5 SBA Lender for Massachusetts
MCBC’s Multi-year Research Partnership with UMass
Foremost for 2020, MCBC is excited to announce a multi-year research partnership with the Economic and Public Policy Research group at the University of Massachusetts Donahue Institute. MCBC commissions annual reports on mortgage lending and small business lending trends in Massachusetts. We’re putting together on an ambitious schedule for 2020. Look for additional updates in future newsletters!
Community Reinvestment Act Modernization
Like many of you, MCBC is drafting a response letter to the Noticed of Proposed Rulemaking (NPR) on the Community Reinvestment Act issued by the Office of the Comptroller (OCC) and the Federal Deposit Insurance Company (FDIC.
Published on January 9th in the Federal Register the NPR has received nearly 550 comments. Given that the ANPR received more than 1,500 letters, many more letters are expected to be received.
Submit your’s before the comment period closes on April 8th.*
And most importantly, MCBC’s annual membership drive is underway! There are many reasons to get involved in MCBC – check us out!!
Be a part of a 30-year commitment by community and banking leaders to discuss and develop solutions to the racial wealth gap. Please support the work of MCBC through an annual membership.
Upcoming events in the community reinvestment field:
*Extension announced on 2/19. The Federal Register has not yet been updated to reflect 30-day extension through 4/8.