Jan 31, 2020 - Economy & Business

Podcast: The fight over banking poor communities

The Community Reinvestment Act was passed in 1977 to address banks’ refusal to lend money to people in areas they deemed “risky.” It’s up for an overhaul, and it’s dividing Wall Street, Congress and community activists.

Go deeper: Tug-of-war over banking poor communities

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Tug-of-war over how banks should give back to poor communities

Illustration: Eniola Odetunde/Axios

Washington, Wall Street and Main Street are at war over regulatory changes based on a law that requires banks to invest in needy neighborhoods and lend to lower-income consumers.

Why it matters: A lot of money is at stake, and neighborhoods across the country could suffer or prosper depending on how (or if) the regulations are changed.

Go deeperArrowJan 28, 2020

Banks may struggle to recreate 2019 success

Reproduced from Bloomberg; Chart: Axios Visuals

Wall Street analysts are betting the banks can't do it three years in a row.

What they're saying: Analysis from Yardeni Research shows the average expectation is for a 0.4% decline in S&P 500 diversified banks’ 2020 revenue and only a 3.8% increase in earnings.

Go deeperArrowJan 17, 2020

When war pays dividends

Illustration: Aïda Amer/Axios

War. What is it good for? The stock market, it turns out.

The big picture: Don't pay too much attention to short-term stock-market gyrations. When you take a step back, it looks like war tends to be good — not bad — for American stocks.

Go deeperArrowJan 9, 2020