The hill district urban redevelopment project : revitalization victory or community breach? / Audrey Murrell, Gloria Onosu, Ray Jones, Myles Cooper, and Andy Borchers.

Format:

Book

Author/Creator:

Murrell, Audrey, author.

Onosu, Gloria, author.

Jones, Ray, active 2020, author.

Cooper, Myles, author.

Borchers, Andy, author.

Series:

SAGE business cases.

SAGE business cases

Language:

English

Subjects (All):

Business ethics--Case studies.

Business ethics.

Bank management--Case studies.

Bank management.

Physical Description:

1 online resource.

Place of Publication:

London : Society for Case Research, 2020.

Summary:

Dwelling House Savings and Loans (DHSL) sought to increase its reserve to be insured by the Federal Savings and Loan Insurance Corporation (FSLIC). At the time, DHSL had $13.4 million in assets and $13.8 million in deposits but had taken on more than $3 million in unrecoverable debt. Further analysis discovered an additional $1 million of undiscovered debt. Several foundations within Pittsburgh have pooled resources to provide the necessary gap funding, but DHSL must meet federal (rather than state) standards for FDIC insurance coverage, which required a minimum of $30 million in total net assets. DHSL was dealing with the aftermath of the financial crisis that hit the Hill District community because of the Pittsburgh urban redevelopment project. As a result, DHSL experienced a drop in savers' deposits, increased requests for loans, and a spike in loan delinquency. With the increase in the number of default loans, DHSL was under pressure to secure FSLIC insurance to avoid the shutdown of its operations. DHSL management had to decide whether to keep fulfilling its core mission of providing affordable mortgages for the Hill District community or changing its mortgage policy to raise the required funds needed to prevent its operations' shutdown.

Notes:

Description based on XML content.

ISBN:

979-83-488-3658-0

OCLC:

1569208673

Publisher Number:

T299724