Context for the Bank Branch Challenge

• Borrowers and communities of color targeted for abusive subprime mortgage products

• Foreclosure and economic crisis disproportionately impacts communities of color

• Government interventions attempt to stabilize banking industry and housing market

• Banks slow to return to lending, as underwriting criteria tightens, communities of color largely left out

• Multi-state, seven city study documents patterns

• New York Community Bank Corp purchased 66 bank branches of Ohio Savings (only purchase of bank branches outside of Metropolitan New York)

Ohio Savings ATM No Longer in Service

Foreclosure Crisis

WOODSTOCK INSTITUTE | MONTH YEAR

Origination and Denial Rates in Cuyahoga County by Race/Ethnic Composition of Census Tract for Conventional Home Purchase Applications, 2009

WOODSTOCK INSTITUTE | OCTOBER 2010

Origination and Denial Rates in Cuyahoga County by Race/Ethnic Composition of Census Tract for Conventional Refinance Applications, 2009

WOODSTOCK INSTITUTE | OCTOBER 2010

WOODSTOCK INSTITUTE | MONTH YEAR

Ohio Savings Deposits by Branches 6/2010• 1801 East Ninth Street Cleveland 336,518• 5767 Broadview Road Cleveland 131,154• 6290 Pearl Rd Cleveland 110,925• 6500 Mayfield Rd Cleveland 96,700• 14033 Cedar Rd Cleveland 93,638• 6016 Turney Road Cleveland 86,544• 14177 Pearl Road Strongsville 86,066• 26300 Cedar Rd Beachwood 84,007• 22255 Center Ridge Rd Rocky River 76,119• 720 Richmond Rd Cleveland 74,604• 26949 Chagrin Blvd Beachwood 73,725• 4800 Great Northern Blv North Olmsted 72,194• 34206 Aurora Road Solon 69,885• 20133 Farnsleigh Road Beachwood 67,612• 3300 Warren Road Cleveland 66,474• 6520 Royalton RoadNorth Royalton 55,205• 15001 Snow Road Brook Park 52,442• 2066 Lee Road Cleveland 36,720• 30210 Detroit Road Westlake 26,760• 13109 Shaker Square Cleveland 22,922• 1866 West 25th Street Cleveland 17,693

BANK BRANCH CLOSING

• OHIO SAVINGS CLOSED ITS BANK BRANCH WITH $23 MILLION IN DEPOSITS IN AN INTEGRATED NEIGHBORHOOD, SERVING LOW AND MODERATE INCOME RESIDENTS

• OHIO SAVINGS/NEW YORK COMMUNITY BANK HAS PROVIDED NO LOGICAL BUSINESS RATIONALE FOR CLOSING THIS BRANCH, HAVING RECEIVED $2-4 BILLION IN FDIC FUNDS

Ohio Savings/New York Community Bank does not participate in the Mortgage

Bulletin or the Cuyahoga County Treasurer’s Link Deposit Program

NEXT STEPS

• CRA COMMENT LETTER TO FDIC• FILE FAIR LENDING COMPLAINT WITH OHIO

CIVIL RIGHTS COMMISSION-HUD FHEO• INVOLVE CONGRESSIONAL OFFICES IN FILING

CRA COMMENTS• ORGANIZE PUBLIC MEETING TO BE HELD AT

OUR LADY OF PEACE CHURCH TO DISCUSS BANK DEMANDS