NCRC

Senate plan helps banks, not the economy

By / / Press Releases / 1 minute of reading

Senate Banking Chairman Mike Crapo (R-Idaho) released the text of bipartisan “Economic Growth” legislation, which rolls back valuable fair lending requirements and protections from the dangerous banking practices that led to the 2008 financial crisis.

“This legislation will grow economic inequality rather than our economy, as its name suggests” said John Taylor, President and CEO of the National Community Reinvestment Coalition. “In the midst of several financial scandals, politicians on both sides of the aisle have again proven that their allegiances to Wall Street far surpass their promises to Main Street.”

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House passes $5.5 trillion tax reform bill

By / / Press Releases / 1 minute of reading

“I am especially concerned by the new limitations placed on the housing sector in this tax reform, which will make it more difficult to expand our supply of affordable housing in the midst of a housing crisis. If the Senate cannot stop this terrible legislation, then they need to find another job,” said John Taylor, NCRC’s President and CEO.

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Politico: Cordray to resign from CFPB, clouding future of watchdog agency

By / / In the News / 1 minute of reading

Cordray’s departure kicks off a high-stakes scramble to secure the future of the CFPB, a powerful Washington regulator that has cheered consumers and angered businesses as well as Republicans, who have accused it of overreaching. The independent bureau is the only bank regulator not led by a Trump appointee.

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Letter in Opposition to Bill H.R. 1

By / / Testimony & Regulatory Comments / 4 minutes of reading

November 16, 2017 Dear Representative, We, the undersigned members of the National Community Reinvestment Coalition (NCRC), are writing to urge you to oppose H.R. 1, the Tax Cuts and Jobs Act.  Among other reasons, the bill includes several provisions that would undermine incentives in the nation’s tax code for low- and moderate-income (LMI) families to

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Director Cordray leaving the CFPB

By / / Press Releases / 1 minute of reading

“We must all hope now, that Congress and the President appoint somebody equal to or even better than Director Cordray. They must choose an appointee with a proven track record of commitment to protecting the interests of the people, not the industry. For the CFPB to have anybody lesser, would undermine both the spirit and intention of this agency” said John Taylor, President and CEO of NCRC.

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Next City: Three U.S. Banks Make $20 Billion Community Reinvestment Promise

By / / In the News / 1 minute of reading

Three banks in three different regions collectively promised nearly $20 billion in home mortgages, small business loans, community development financing, and charitable contributions, as part of negotiations that included hundreds of community-based organizations in each region that were completed over the past month.

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Low interest rate fuels rise of home loans to military veterans

By / / On Our Radar / 1 minute of reading

A record number of veterans and service members are buying homes with loans financed by the Department of Veterans Affairs. About 80 percent of VA Loan borrowers do not put down money when buying a house. But less than 1 percent of VA loans were in foreclosure as of June, according to the Mortgage Bankers

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Iberiabank and NCRC celebrate $6.72 billion commitment to community development

By / / Press Releases / 7 minutes of reading

IBERIABANK announced today a community benefits plan with the National Community Reinvestment Coalition (NCRC) and its community-based members and partners across the southeastern region of the United States.

“IBERIABANK has been actively engaged in meaningful conversations with our members to ensure that they are well positioned to meet the needs of underserved communities. This community benefits commitment is the gold standard and raises the bar for all banks on what constitutes a forward thinking community commitment,” said NCRC President and CEO John Taylor. “We very much appreciate the strong collaboration demonstrated by IBERIABANK’s executive leadership.”

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Intermediate Small Banks: The Forgotten but Significant Resource for Affordable Housing and Community Development

By / / Research / 3 minutes of reading

NCRC examined the varying levels of CD finance by banks with different CD test ratings, concluding that there is a significantly larger level of CD finance by banks with “Outstanding” ratings than banks with ratings of “Satisfactory” and “Needs to Improve.”

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Billions at risk in proposals to weaken the Community Reinvestment Act

By / / Press Releases / 2 minutes of reading

Washington, DC – A new study released today by the National Community Reinvestment Coalition (NCRC) found that banking industry proposed changes to the Community Reinvestment Act (CRA) would allow midsize banks to circumvent federal requirements to lend and invest in low and moderate income neighborhoods.These proposed changes would endanger billions in affordable housing and community development investment.

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