Economic Equity

Economic Equity works to overcome the lingering effects of redlining, help communities of color build wealth, and ensure that our financial system works for all.

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Letter to the Federal Reserve Board of Governors on Why the Federal Reserve Must Support Diversity of Regional Bank Presidents

March 13, 2017

At Greenlining, we understand that people solve the problems they see. Disproportionate unemployment of our communities is inextricably linked to the absence of a single black or Latino regional bank president in the Fed’s 102 year old history. Read the…

Letter to the Federal Reserve Regarding Proposed Merger Between Cathay General Bancorp and SinoPac Bancorp

November 14, 2016

The Greenlining Institute wrote to the Federal Reserve Bank of San Francisco to express its concern about the proposed merger between Cathay General Bancorp and SinoPac Bancorp. Cathay Bank has a poor lending record to low- and moderate-income borrowers, non-Asian ethnic minority…

Greenlining’s Comments and Recommendations Regarding OMWI Inspector General Reports

November 4, 2015

In the wake of reports from Inspectors General at seven federal financial regulatory agencies documenting shortcomings in their diversity efforts, Greenlining wrote to the agencies to make specific recommendations on how to bolster diversity. To read the comments and recommendations,…

Comments of Greenlining on Final Interagency Diversity Standards in Financial Sector

August 18, 2015

The Offices of Minority and Women Inclusion are charged with creating standards on workforce and supplier diversity for nearly 70,000 financial institutions in the private sector. Disappointed with their final standards, published in June 2015, Greenlining submitted a final response…

Letter to the Federal Reserve and Office of the Comptroller of the Currency Regarding Attempts to Buy Public Support for the CIT/OneWest Bank Merger

March 6, 2015

Greenlining wrote to federal regulators requesting an investigation of evidence that OneWest Bank used its philanthropic support to influence public testimony regarding its attempt to merge with CIT Group. To read the comments, click here.

Economic Growth Recovery & Paperwork Reduction Act Hearing

December 2, 2014

Last week, Greenlining, along with other community advocates, testified before OCC Comptroller Curry, FDIC Chairman Gruenberg, and other regulatory agency representatives to discuss outdated and burdensome financial regulations. Over the next year, financial regulators will hold hearings across the country…

CRA Q&A Comments

November 10, 2014

Recently, Greenlining submitted formal comments responding to the FDIC, Fed, and OCC’s proposed revisions to the Community Reinvestment Act (CRA) Q&A. The CRA Q&A is used to guide banks on how to structure CRA investments; and examiners on how to…

HDMA Comments

October 29, 2014

Earlier this year, Greenlining submitted formal comments to the Consumer Financial Protection Bureau (CFPB) on its proposed enhancements to Home Mortgage Disclosure Act (HMDA) data. This directive was extended to the CFPB by Congress in the Dodd-Frank Wall Street Reform…

Letter to the Federal Reserve Strongly Opposing CIT Group’s Proposed Acquisition of IMB and OneWest Bank

October 12, 2014

Greenlining urges the Federal Reserve to reject the merger application, arguing that it would have little or no public benefit and that OneWest has demonstrated little regard for communities of color and prefers to operate as a “bank for the…

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