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Community Reinvestment Act Changes Expected to Benefit Low- and Moderate-Income Communities

NNPA NEWSWIRE — The Community Reinvestment Act was enacted in 1977 as a direct response to redlining, an unethical practice whereby banks and other lending institutions made it extremely difficult, if not impossible, for residents of poor, inner-city communities to borrow money, get a mortgage, take out insurance or access other financial services. Redlining did not take into consideration an individual’s qualifications or creditworthiness.

Published

6 years ago

December 29, 2019

Oakland Post

Proposed Changes to the Community Reinvestment Act (CRA)

By Christopher G. Cox, publisher and managing editor, www.realesavvy.com

Proposed changes to the Community Reinvestment Act (CRA) could lead to greatly enhanced investment in low- and moderate-income (LMI) communities around the country, according to Grovetta N. Gardineer, senior deputy comptroller for Bank Supervision Policy with the Office of the Comptroller of the Currency (OCC).

The OCC is soliciting comments on a proposal to modernize the CRA by clarifying what counts, updating where activity counts, measuring performance more objectively, and making reporting more timely and transparent.

“The CRA has a very noble goal of making sure banks meet their responsibility for lending, investing in and servicing communities where they do business, with a focus on low- and moderate-income individuals and areas,” Gardineer said. “The statute remains a noble goal, but the implementation is outdated and, in many ways, ineffective.”

The CRA was enacted in 1977 as a direct response to redlining, an unethical practice whereby banks and other lending institutions made it extremely difficult, if not impossible, for residents of poor, inner-city communities to borrow money, get a mortgage, take out insurance or access other financial services. Redlining did not take into consideration an individual’s qualifications or creditworthiness.

Gardineer explains that a primary reason the CRA needs updating is because the banking industry has changed fundamentally in the more than 40 years since it was implemented. “Among other things,” Gardineer adds, “we did not have the internet in 1977, and interstate branching was not available.

“Banks were limited to where they had branches or where their home office was located, so they had a completely geographical approach,” she continued. “With all of the tremendous technological advancements in recent years, banks now offer products and services across the country regardless of geography.”

The OCC hopes stakeholders will carefully review the proposed changes and submit comments so that a final rule can be issued in the first half of 2020.

Noting that the new CRA rules would fight displacement and harmful gentrification – a high priority in many minority communities – Gardineer points out that the OCC is making a concerted effort to work closely with such organizations as the NAACP and the National Urban League.

To that end, OCC has invested the time to meet with thousands of concerned individuals “discussing the issues that need to be addressed.” Meetings are currently scheduled with Derrick Johnson, president and CEO of the NAACP, and Marc Morial, president and CEO of the National Urban League. Another recent outreach effort to solicit public input included an Atlanta bus tour with Ambassador Andrew Young.

There are still too many underserved communities in the U.S. that are “CRA desserts,” Gardiner notes. “No matter what their geographical footprint, we want banks to be able to offer a broad array of services to communities and individuals throughout the nation.

“Given the wide spectrum of individuals who we know will benefit from this rule making process,” Gardiner said, “it is particularly important to the Comptroller to make sure that we spread a wide net, that we make ourselves available and that we share our vision.

“We have really worked hard over the past two years,” she concluded, “closing a loophole that allowed wealthy people to get CRA credit for investing in LMI areas. That is not what CRA was ever intended to do. And that is being directly responsive to some of the feedback we have been receiving.”

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Michael: The King of Pop’s Story Returns to the Big Screen

BLACKPRESSUSA NEWSWIRE — The curtain has finally lifted on one of Hollywood’s most anticipated films. Lionsgate has unveiled the official trailer and release date for “Michael,” the sweeping biopic about Michael Jackson that has been years in the making.

Published

1 day ago

November 6, 2025

Stacy M. Brown

By Stacy M. Brown
Black Press USA Senior National Correspondent

The curtain has finally lifted on one of Hollywood’s most anticipated films. Lionsgate has unveiled the official trailer and release date for “Michael,” the sweeping biopic about Michael Jackson that has been years in the making. Directed by Antoine Fuqua, the film will arrive in theaters on April 24, 2026, with the singer’s nephew, Jaafar Jackson, stepping into the spotlight to portray his legendary uncle.

The trailer wastes no time rekindling the aura of Jackson’s genius. Opening with a studio scene between Jackson and his longtime producer Quincy Jones, played by Kendrick Sampson, the clip builds from a quiet, familiar rhythm to the electrifying pulse of “Wanna Be Startin’ Somethin’.” Viewers catch glimpses of the singer’s childhood, flashes of “Thriller,” and the silhouette that redefined pop culture. Each frame reminds fans of why Jackson remains unmatched in artistry and influence. The cast surrounding the late pop king’s nephew, Jaafar Jackson, reads like a who’s who of Black entertainment and music history. Colman Domingo plays Joe Jackson, Nia Long portrays Katherine Jackson, and Larenz Tate takes on the role of Motown founder Berry Gordy. Laura Harrier portrays music executive Suzanne de Passe, while Kat Graham embodies Diana Ross. Miles Teller plays attorney John Branca, a towering entertainment lawyer and longtime Jackson confidant who later became co-executor of his estate. The film’s journey to release has been as complicated as the icon it portrays. Production wrapped in 2024, but legal hurdles over depictions of past controversies forced extensive reshoots and editing delays. Even so, Fuqua’s film now appears ready to reclaim the narrative, focusing on Jackson’s creative ambition and humanity beyond tabloid noise. IndieWire reported that the film had faced “a massive legal snafu” over a disputed storyline but was retooled to center the music and legacy that defined generations.

Maven. Photo Credit: Glen Wilson

“Michael” promises more than a chronological retelling. It aims to explore how a child star from Gary, Indiana, became the world’s most influential entertainer. The script, written by Oscar-nominated John Logan, traces Jackson’s early years with the Jackson 5 through the triumphs and isolation of global superstardom. With Fuqua’s cinematic eye and producer Graham King—who brought “Bohemian Rhapsody” to life—joining forces with estate executors Branca and John McClain, the film is positioned as both a tribute and a restoration of Jackson’s cultural truth. Branca’s work behind the scenes has long shaped Jackson’s posthumous success. After the singer died in 2009, Branca and McClain took control of the estate burdened by debt and turned it into a global powerhouse worth billions. Under their stewardship, Jackson’s projects have generated more than $3 billion in worldwide ticket sales and landmark deals, including a $600 million joint venture with Sony earlier this year. At its heart, though, “Michael” is a story about artistry that transcends scandal. It offers a reminder that, despite the noise surrounding his life, Jackson’s music still bridges continents and generations. The trailer’s closing moments capture that spirit. As the beat of “Billie Jean” swells and Jaafar Jackson moonwalks into a spotlight, audiences are left with a familiar feeling—the awe of witnessing something timeless return home.

“Michael” opens worldwide in theaters April 24, 2026. See the official trailer here.

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Donald Trump Is the Biggest Loser

BLACKPRESSUSA NEWSWIRE — The Trump Brand took a significant hit as it was swept up in the Democratic blue wave of the election last night.

Published

2 days ago

November 5, 2025

Oakland Post

By April Ryan

The Trump Brand took a significant hit as it was swept up in the Democratic blue wave of the election last night.

Chris Jones, Democratic candidate for U.S. House of Representatives (AR-02), says, “Last night was electric, and it was unquestionably a wave.” Democrats won big in what is widely considered a repudiation of Trump’s 9 months at the White House in his second term.

In the state of Virginia, which produced the first big election night win and saw the election of the first woman governor, Democrat Abigail Spanberger, 56% of Virginia’s residents disapprove of President Trump. In New Jersey, 55% of state residents disapprove of the president; in New York, 69% disapprove; and in California, 63% disapprove of the president. The Trump brand or his support for any candidates did nothing to benefit those he endorsed in this election. They actually lost in each race he publicly put his name behind. Trump endorsed former New York Democratic Governor Andrew Cuomo, who lost the New York mayor’s race in his run as an independent. And New Jersey Republican Jack Ciattarelli, who ran for governor with the presidential endorsement, also lost his prospective race.

The next question is, will the democratic momentum be sustainable? Jones further explained, “This can become a 2026 tsunami, but turning a wave into a tsunami takes energy. A lot of energy. It doesn’t just happen. The conditions are there. Now we have to work!”

Some Democrats would argue that the work is already underway. The pushback against Trump’s national redistricting efforts received a thumb in the eye from California voters. Prop 50, California Governor Gavin Newsom’s counterbalance to President Trump’s redistricting efforts, passed in California last night. Although Trump’s name was not on the ballot last night, his Republican policies were. The United States has now entered the longest government shutdown in its history. Forty-two million Americans are not getting SNAP benefits. Economists are acknowledging that the government shutdown is contributing to the rise in delinquent debt in the student loan, automotive, and credit card industries. These items are among the negatives Americans are protesting against.

Compounding Trump’s political problems is a tariff battle that’s directly impacting pocketbooks. The day after the elections, the Trump administration was arguing before the US Supreme Court in favor of the president’s tariff powers. Meanwhile, President Trump‘s poll numbers are underwater, standing at a 37% national disapproval rate

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Historic Beatdown: Democrats Sweep Virginia as Speaker Don Scott and Jay Jones Make History

BLACKPRESSUSA NEWSWIRE — In a clear rejection of the policies of President Donald Trump, history repeated itself in Virginia.

Published

2 days ago

November 5, 2025

Oakland Post

By Lauren Burke

In a clear rejection of the policies of President Donald Trump, history repeated itself in Virginia. Democrats once again swept all three statewide offices as they did in 2017 during Trump’s first term. Abigail Spanberger easily won the office of Governor, and State Senator Ghazala Hashmi won her race over John Reid to be the next Lieutenant Governor. The victories occurred against the backdrop of a historic win in Virginia by Spanberger that will give Virginia its first woman Governor.

Spanberger’s widely predicted win over Republican gubernatorial nominee Winsome Earle-Sears was called 17 minutes after the polls closed in Virginia at 7 pm. Former Delegate Jay Jones won his race against incumbent Attorney General Jason Miyares. His victory means Jones will be the first Black Attorney General in Virginia’s history. Jones’ win was particularly noteworthy since the last month of his campaign was consumed by the issue of private text messages from 2022 to Republican Delegate Carrie Coyner. Republicans ran a non-stop barrage of negative ads against Jones for a month.

Del. Coyner lost her bid for re-election to Delegate-elect Lindsey Dougherty. The Dougherty race was the number one target for House Speaker Don Scott and his campaign lieutenant, Delegate Dan Helmer. Coyner’s defeat was one of at least 13 victories for Democrats who have now added to their ranks in the Virginia House to historic margins. When the Virginia General Assembly returns to session in January, there will be at least 64 Democrats in the chamber. The widespread Republican defeat is a testament to a combination of historic fundraising, Democrats running in all 100 seats, dislike of President Trump’s policies, and an ineffective top of the ticket featuring Lt. Gov. Earle Sears.

+13: Speaker Scott and Del. Helmer Hit Historic Numbers in Fundraising and Power

As the evening ended, a glaring historic fact became clearer: The Virginia House of Delegates will expand to a historic number. The change means the largest Democratic House chamber in the modern era. There were several notable wins by Democrats running for the Virginia House. They include Virgil Thornton, Lilly Franklin, and Kim Pope Adams. Speaker Don Scott and his campaign chair, Dan Helmer, undertook a record fundraising effort never before seen in Virginia’s history. The moment of success for Virginia Democrats will be viewed as a positive signal for Democrats moving into the 2026 elections.