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Support the Fair Lending for All Act (H.R. 166)

By NCRC / May 7, 2021 / Testimony & Regulatory Comments / 5 minutes of reading

(Download) The Honorable Maxine Waters Chairwoman Committee on Financial Services United States House of Representatives Washington, DC 20515 The Honorable Patrick McHenry Ranking Member Committee on Financial Services United States House of Representatives Washington, DC 20515 Dear Chairwoman Waters, Ranking Member McHenry and Members of the Committee: We are writing to urge your support for H.R. 166, […]

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The COVID Pandemic And Its Impacts On Culturally Significant Businesses

By NCRC / April 27, 2021 / Research / 55 minutes of reading

The pandemic and rapid social changes brought many challenges for a group of Black business owners in Washington, D.C., and Baltimore, but even so they emphasized the role of their businesses in maintaining the cultural vibrancy of their communities.

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NCRC Summary of the Section 203, Strengthening the Community Reinvestment Act of 1977, of the American Housing and Economic Mobility Act of 2021 (S. 1368, H.R. 2768)

By NCRC / April 23, 2021 / Testimony & Regulatory Comments / 6 minutes of reading

Although the Community Reinvestment Act (CRA) and other fair lending laws have increased lending and investment in traditionally underserved communities, stubborn and persistent lending disparities by race and income remain. CRA needs an update and its coverage of the financial industry must be expanded. The overall objective of Section 203 is to increase lending, investments

NCRC Summary of the Section 203, Strengthening the Community Reinvestment Act of 1977, of the American Housing and Economic Mobility Act of 2021 (S. 1368, H.R. 2768) Read More »

Ncrc opposes the deposit insurance application of Payservices, Inc. for failing to include a CRA plan

By NCRC / April 12, 2021 / Testimony & Regulatory Comments / 3 minutes of reading

April 8th, 2021 John Henrie Regional Director Federal Deposit Insurance Corporation 10 10th Street, NE Suite 800 Atlanta, GA 30309-3849 RE: Application for Deposit Insurance (New Bank) from PayServices, Inc. Dear Mr. Henrie: Please kindly accept our comment on the application from PayServices, Inc. (Delray Beach, Florida) for deposit insurance. PayServices failed to include a

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Joint letter on the product and program limits imposed on Fannie Mae and Freddie Mac

By NCRC / April 8, 2021 / Testimony & Regulatory Comments / 8 minutes of reading

(Download) April 6, 2021 The Honorable Janet Yellen Secretary Department of the Treasury 1500 Pennsylvania Ave, NW Washington, DC 20220 The Honorable Mark A. Calabria Director Federal Housing Finance Agency 400 7th St, SW Washington, DC 20024 Dear Secretary Yellen and Director Calabria, We are writing to express concerns about the various product and program

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Joint industry-advocates letter on delaying compliance with the general loan definition under the CFPB’s Qualified Mortgage rule

By NCRC / April 8, 2021 / Testimony & Regulatory Comments / 2 minutes of reading

(Download) April 5, 2020 Mr. Dave Uejio Acting Director Consumer Financial Protection Bureau 1700 G Street NW Washington, DC 20552 RE: Docket No. CFPB-2021-0003; RIN 3170-AA98; Qualified Mortgage Definition under the Truth in Lending Act (Regulation Z): General QM Loan Definition; Delay of Mandatory Compliance Date Dear Acting Director Uejio, The undersigned organizations write to

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Racial Wealth Snapshot: Women, Men and the Racial Wealth Divide

By Dedrick Asante-Muhammad and Sally Sim / April 7, 2021 / Research / 8 minutes of reading

Download Infographic Intro Women have made great strides in the workplace, comprising nearly half of the workforce, and surpassing men in higher education achievement. Yet, women still make less income, have less wealth and face greater economic instability than their male counterparts. The level of economic instability faced by men and women is greatly influenced

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Black Entrepreneurship’s Lethal Pre-Existing Condition: The Racial Wealth Divide During the COVID Crisis

By Dedrick Asante-Muhammad, Dr. Jared Ball, Jamie Buell, Joshua Devine, / April 6, 2021 / Research / 31 minutes of reading

Black America was in an economic crisis before COVID-19, and recovery for Black-owned businesses will require solutions to the economic preconditions that made success and wealth accumulation so difficult to achieve before the pandemic, a new report found.

Black Entrepreneurship’s Lethal Pre-Existing Condition: The Racial Wealth Divide During the COVID Crisis Read More »

Joint advocates letter on delaying compliance with the general loan definition under the CFPB’s Qualified Mortgage rule

By NCRC / April 5, 2021 / Testimony & Regulatory Comments / 12 minutes of reading

(Download) April 5, 2021 Mr. Dave Uejio Acting Director Consumer Financial Protection Bureau 1700 G Street NW Washington, DC 20552 Re: Docket No. CFPB-2021-0003, Qualified Mortgage Definition under the Truth in Lending Act (Regulation Z): General QM Loan Definition; Delay of Mandatory Compliance Date Dear Acting Director Uejio: We the undersigned civil rights organizations are

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For women entrepreneurs, one daunting obstacle to recovery from the She-Recession will be barriers to credit

By Anneliese Lederer / March 29, 2021 / Views / 4 minutes of reading

Entrepreneurship is not a successful venture without the right tools. One of these tools is access to credit – the money needed to start a business, expand or deal with ebbs and flows in revenue.

For women entrepreneurs, one daunting obstacle to recovery from the She-Recession will be barriers to credit Read More »

NCRC comment on OMB Standards For Delineating The Metropolitan And Micropolitan Statistical Area, OMB-2021-0001

By NCRC / March 22, 2021 / Testimony & Regulatory Comments / 18 minutes of reading

(Download) March 19, 2021 RE: OMB Standards for Delineating the Metropolitan and Micropolitan Statistical Area, OMB-2021-0001 To Whom it May Concern: The National Community Reinvestment Coalition (NCRC) and the undersigned organizations oppose the Office of Management of Budget’s (OMB’s) proposed re-definition of metropolitan and micropolitan areas. Under the proposal, a metropolitan statistical area would be

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Letter of support for Don Graves to be next Deputy Commerce Secretary

By NCRC / March 17, 2021 / Testimony & Regulatory Comments / 6 minutes of reading

(Download) The Honorable Maria Cantwell Chair Committee on Commerce, Science and Transportation United States Senate Washington, DC 20510 The Honorable Roger Wicker Ranking Member Committee on Commerce, Science and Transportation United States Senate Washington, DC 20510 March 17, 2021 Re: Consumer, community and civil rights groups urge confirmation of Don Graves for Deputy Secretary, Department

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Joint Letter urging inclusion of the Neighborhood Homes Investment Act in the Administration’s infrastructure proposal

By NCRC / March 17, 2021 / Testimony & Regulatory Comments / 4 minutes of reading

(Download) March 17, 2021 The Honorable Joseph R. Biden, Jr. The White House 1600 Pennsylvania Avenue, N.W. Washington DC 20500 Dear President Biden: We are a diverse and broad coalition of nonprofits, real estate trade groups, lenders, and civil rights advocates, brought together by a shared belief that we need a policy solution that expands

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Relationships Matter: Small Business and Bank Branch Locations

By NCRC / March 17, 2021 / Research / 45 minutes of reading

Relationships Matter: Small Business and Bank Branch Locations March 2021 — Key Takeaways The number of banks and bank branches has declined significantly since 2009. Local branches are still crucial to small business lending. Small business lending is increasingly dominated by the largest lending institutions. Smaller institutions are disappearing as they merge or are bought

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NCRC’s comment on Brex’s charter application

By Richard Lynch / March 16, 2021 / Testimony & Regulatory Comments / 14 minutes of reading

(Download) March 15, 2021 RE: Comment on Brex’s charter application To Whom it May Concern: The National Community Reinvestment Coalition (NCRC) maintains that Brex’s application for deposit insurance for an Industrial Loan Charter (ILC) would not accord with safety and soundness standards for banks and has not demonstrated a significant commitment to meeting the convenience

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