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NCRC

Gentrification and Disinvestment 2020

By / / Research / 23 minutes of reading

Gentrification and Disinvestment 2020   COVID-19 struck a nation that was already mostly struggling. Do Opportunity Zones benefit or gentrify low-income neighborhoods?   Jason Richardson, Director, Research & Evaluation, NCRCBruce Mitchell, Ph.D., Senior Research Analyst, NCRCJad Edlebi, GIS Specialist, NCRC June 2020 EXECUTIVE SUMMARY COVID-19 exposed deep economic and social fault lines nationwide, with profound implications for […]

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Analysis of the OCC’s Final CRA Rule

By / / Testimony & Regulatory Comments / 42 minutes of reading

The Office of the Comptroller of the Currency (OCC) released their Community Reinvestment Act (CRA) final rule on May 20. It will lessen the public accountability of banks to their communities by enacting performance measures on CRA exams that will be complex and opaque, while at the same time over-simplifying how to measure a bank’s

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NCRC Comment on the CFPB’s Request for Information to Assist the Taskforce on Federal Consumer Financial Law

By / / Testimony & Regulatory Comments / 2 minutes of reading

(Download) June 1, 2020 Comment Intake Bureau of Consumer Financial Protection 1700 G Street NW Washington, D.C. 20552 Re:       Docket No. CFPB-2020-0013 85 FR 18214 Request for Information to Assist the Taskforce on Federal Consumer Financial Law Dear Chief of Staff Weber: The National Community Reinvestment Coalition (NCRC) would like to respond to the

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Do CRA Ratings Reflect Differences in Performance: An Examination Using Federal Reserve Data

By / / Research / 20 minutes of reading

Key Findings Better outcomes on the retail lending test usually corresponded to higher ratings but the differences in performance were not as wide as expected Performance measures used to assess community loans and investments tended to indicate greater differences in bank performance across ratings categories This paper suggests the need for refining performance measures and

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Comment on Proposed Rule: Parent Companies of Industrial Loan Companies, RIN 3064-AF31

By / / Testimony & Regulatory Comments, Uncategorized / 15 minutes of reading

(Download) May 26, 2020 RE: Comment on Proposed Rule: Parent Companies of Industrial Loan Companies, RIN 3064-AF31 To Whom it May Concern: The National Community Reinvestment Coalition (NCRC), a coalition of 600 community-based organizations dedicated to increasing access to capital and credit for traditionally underserved communities, opposes the FDIC’s proposal to codify the procedures for

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Over 130 groups support more funding for housing counseling

By / / Testimony & Regulatory Comments / 6 minutes of reading

Dear Senate Leadership and Senate Appropriators: The National Community Reinvestment Coalition (NCRC) and the undersigned organizations are writing to urge the Senate to support housing counseling provisions included in H.R. 6800, the HEREOS Act, recently passed by the House.  Housing counseling agencies have played an essential role following the nation’s housing crisis and numerous natural disasters since then.  Congress

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NCRC Comment Letter on Monzo’s Charter Application

By / / Testimony & Regulatory Comments / 10 minutes of reading

(Download) May 21, 2019 RE: NCRC Comment Letter on Monzo’s Charter Application To Whom it May Concern: The National Community Reinvestment Coalition (NCRC) maintains that Monzo’s charter application has not demonstrated a significant commitment to meeting the convenience and needs of the community to be served as required by the Community Reinvestment Act and the

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Joint Statement On CRA Rule Changes From OCC

By / / Press Releases / 3 minutes of reading

A group of 18 civil rights, consumer protection and industry leaders issued the following joint statement: Today, the Office of the Comptroller of the Currency (OCC) announced long-anticipated changes to rules that enforce the Community Reinvestment Act (CRA). The Federal Reserve Board decided not to join the proposed rule and has offered alternative approaches. The

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Racial Wealth Snapshot: Asian Americans and the Racial Wealth Divide

By / / Research / 8 minutes of reading

Download Infographic Introduction Asian Americans are the fastest growing racial group in the United States, and are predicted to be the nation’s largest immigrant group in 50 years.[1] Asian American is a racial category that includes Americans who are from or whose relatives are from a diverse group of countries: China, Korea, Japan, India, Pakistan,

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Mortgages and Older Adults after COVID-19

By / / Research / 10 minutes of reading

Key Findings 30% of mortgages in 2018 went to older adults. 67% of older adults who took out mortgages were refinancing their homes and 68% of those used the mortgage to access the equity in their homes. Older borrowers were Whiter than younger borrowers. As with younger borrowers, there are racial disparities in interest rates

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NCRC comment on OCC licensing and merger applications

By / / Testimony & Regulatory Comments / 13 minutes of reading

April 28, 2020 RE: Docket ID OCC-2019-0024 To Whom it May Concern: The National Community Reinvestment Coalition (NCRC), an association of 600 community-based organizations dedicated to increasing access to affordable and safe banking products in traditionally underserved communities, opposes the Office of the Comptroller of the Currency’s (OCC’s) proposed changes to its licensing manual that describes procedures

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