This bank challenge differs from the others that OFL has participated in as is does not involve a bank merger. Instead, the bank received a "Needs to Improve" CRA rating due to 5/3's discrimination of African American's in auto-loan lending and credit card practices, and discrimination of people with disability in their Atlanta area locations. Their national "Needs to Improve" rating allows us to now change their lending practices in Cleveland and Ohio. The different nature of the bank challenge changes the areas of leverage available, but the course of action remains the similar to past challenges. Once again, OFL will take part in a national coalition to achieve a Community Benefits Plan. Negotiations with 5/3 and the NCRC coalition are in the early stages. Meetings are being held to discuss expectations and plans with 5/3, and a draft of a Community Benefits Plan is the goal of this phase of the challenge.
This section is updated as relevant news stories, publications, and studies are made available