DCRAC, the Delaware Community Reinvestment Action Council, Inc., recently honored Wilmington attorney Richard Cross, Fulton Bank executive Randy Taylor and the Catholic Campaign for Human Development at its annual awards dinner.
Cross, a partner in Cross and Simon, and Taylor, president of Fulton Bank’s Delaware Division, received excellence in service awards.
Cross was cited for his successful representation in the Court of Chancery of a borrower who sought to have a payday loan voided because its terms were unconscionable. “The remarkable result of this litigation should serve as a warning for reform needed in the predatory lending community,” said Rashmi Rangan, DCRAC executive director.
DCRAC honored Taylor as a thank-you for his efforts in gifting a Fulton Bank branch in Wilmington to DCRAC for use as its headquarters and a home for its Stepping Stones Community Federal Credit Union. “Through this remarkable donation from Fulton Bank, hundreds, if not thousands, will have easier access to credit in the years to come,” Rangan said.
The Catholic Campaign for Human Development, based in Washington, D.C., received the Community Reinvestment Act Leadership Award for providing advice and financial support during DCRAC’s 10-year effort to establish Stepping Stones, which opened in 2012.
DCRAC, founded in 1987 as an advocate for equal access to credit, provides multiple services to assist low-income individuals deal with a variety of creditors, including mortgage holders, banks and other lenders, and the Internal Revenue Service. It also operates the Stepping Stones CFCU.
