First Tennessee boosts lending to low- and moderate-income Chattanooga residents
x“Decades of banking bias have left many unfairly cut out of home ownership, local and national reports show, but one national organization is partnering with a Chattanooga grassroots nonprofit organization to combat the inequity one bank at a time. After months of conversations with the Washington, D.C.-based National Community Reinvestment Coalition and community-based organizations across the South, Memphis-based First Tennessee bank has signed a ‘community benefits agreement,’ which commits nearly $4 billion over a five-year period to benefit local residents traditionally cut out of lending.”