Ohio Fair Lending joined a national coalition led by the National Community Reinvestment Coalition in 2010. NCRC had been challenging bank mergers for several years, but the Key Bank merger was the first involving a Cleveland/Ohio Bank. This sparked Ohio Fair Lending's interest, and we heightened our involvement with NCRC in 2015 to deal with the Key Bank merger. A wide variety of community based groups, covering the footprint of Key Bank from Washington State to the East Coast, became a powerful coalition to challenge the lending patterns of Key Bank. The coalition presents to NCRC and the bank to argue what Key Bank needs to do to lend fairly and reinvest properly to produce the results the communities and neighborhoods want, not just what the bank wants. This resulted in a CRA Plan (Community Benefits Plan) to promote billions of dollars in investment in under served neighborhoods. The Community Benefits Plan begins in January of 2017.
After a plan is agreed upon, OFL and the other members of the coalition continue their involvement with Key Bank by making sure the plan is implemented correctly and that funds are diverted to the places that need it most.
This section is updated as relevant news stories, publications, and studies are made available