Academic journal article ABA Banking Journal

Unusual Item in Atlanta Banks' CRA Files

Academic journal article ABA Banking Journal

Unusual Item in Atlanta Banks' CRA Files

Article excerpt

It may be a sign of financially savvier times that 4,000 Atlanta consumers spent an October weekend at a financial services show called Money Expo '92. It may be a sign of increased attention to Community Reinvestment Act requirements and community groups claims of discrimination that eight financial institutions exhibited at the event, which was geared toward minority consumers.

The exposition was the first of its kind in the country, according to the organizer, Chades Ross, president of Financial Media Services, Inc., Atlanta. Ross has a syndicated weekly radio show for minority consumers called "Your Personal Finance" that has two million listeners. The show provides basic advice in two-minute segments on subjects like selecting a checking account, how to cut debt. what loan officers look for in a loan, and "credit card secrets."

First Union, NationsBank, Citizens Trust Bank, Federal Reserve Bank of Atlanta, SouthTrust, Bank South, Decatur Federal Savings Bank, and Trust Company Bank participated. Most attendees (54%) had incomes of $22,000 to $40,000, and 16% had incomes higher than $40. …

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