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Proposed Changes to CRA Puts Billions in Lending at Risk Each Year
Nearly $3 trillion in home and small business loans from banks went to low- and moderate-income (LMI) borrowers and communities over the last decade. Proposed changes to the Community Reinvestment Act (CRA), which requires banks to make loans in all of the communities where they take deposits, including poor ones, could significantly decrease this lending,
Proposed Changes to CRA Puts Billions in Lending at Risk Each Year Read More »
NCRC Research Memo – Impact of Proposed Rule-Making on Major Credit-Card Lending Banks
NCRC analysis of OCC & FDIC proposal indicates credit card lenders may have reduced incentive to make community development investments. The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) recently proposed a rulemaking (NPRM) that would radically change the manner in which retail lending, consumer lending and community development (CD) activities
Age-Friendly Banking and the OCC and FDIC’s Proposed Changes to the Community Reinvestment Act
(Download) In December 2019, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) issued a notice of proposed rulemaking (NPRM) that would considerably weaken the regulations implementing the Community Reinvestment Act (CRA), a law designed to combat redlining by requiring banks to affirmatively and continually meet community needs
How to Consider Community Development Financing Outside of Assessment Areas by Designating Underserved Counties
(Download) Introduction Under the Community Reinvestment Act (CRA) regulations, CRA examiners evaluate a bank’s record of responding to credit and banking needs in local communities in which it has branches. These areas are referred to as assessment areas (AAs). Over the years, industry stakeholders have sought to engage in community development financing in geographical areas
CRA reform proposals would count sports stadiums as community development!
Under the proposed Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation’s (FDIC) regulatory changes to the Community Reinvestment Act (CRA), financing to improve stadiums located in low- and moderate-income (LMI) areas that are designated Opportunity Zones (OZ) would be credited to a bank, improving their CRA ratings. NCRC examined the
CRA reform proposals would count sports stadiums as community development! Read More »
For the Trump Administration: Affordable housing means middle-income housing for counties with 43 million people
The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) are proposing regulatory changes to the Community Reinvestment Act (CRA) that make it easier for banks to get an “Outstanding” rating while underserving people and communities with low- and moderate-incomes (LMI) that it was meant to help. Under the
NCRC Director of Policy and Government Affairs Testifies in Front of House Financial Services Subcommittee on Consumer Protection and Financial Institutions About Winners and Losers in Proposed CRA Changes
Good afternoon Chairman Meeks, Ranking Member Luetkemeyer and the Members of the House Subcommittee on Consumer Protection and Financial Institutions. Thank you for the opportunity to testify and for convening this important hearing on the Community Reinvestment Act (CRA) to discuss the winners and the losers in the proposed rulemaking formally published last week by
Adding Underserved Census Tracts as Criterion on CRA exams
(Download) Introduction The Community Reinvestment Act (CRA) is an income-based law. Accordingly, the regulations and exams focus on evaluating bank lending, investing and services to low- and moderate-income (LMI) borrowers and tracts. However, one of the major motivations prompting the passage of CRA in 1977 was reversing redlining and disinvestment from minority as well as
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Comment Period for CRA notice of proposed rulemaking now open
Today is the day, the clock is ticking, and we’ve got to mobilize everyone we know who cares about the economic health, wealth and justice in America’s communities. The government published today and opened up for public comments a plan to radically change and diminish the impact of the Community Reinvestment Act (CRA). Let’s make no
Comment Period for CRA notice of proposed rulemaking now open Read More »
Branch Closures – Fair Lending Report
Branch Closures Instructions for use:Branch changes are reported each week by the Federal Deposit Insurance Corporation (FDIC). This report identifies the closing and opening of customer-facing, brick and mortar or retail branch locations in the U.S. only. This interactive report allows the user to explore branch changes from 2000 through the current month.NCRC members can
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NCRC CEO Jesse Van Tol Statement on Affirmatively Furthering Fair Housing Notice of Proposed Rulemaking
Today, the U.S. Department of Housing and Urban Development released a notice of proposed rulemaking (NPRM) for changes to the Affirmatively Furthering Fair Housing (AFFH) rule. While the National Community Reinvestment Coalition (NCRC) is currently analyzing the NPRM, preliminary assessments are concerning. Jesse Van Tol, CEO of NCRC, made the following statement: “This proposal doesn’t
NCRC’s Letter to House and Senate Appropriations Committees on Housing Counseling Budget Needs
(Download) December 13, 2019 The Honarable Nita Lowey 2365 Rayburn House Office Building Washington, DC 20005 The Honorable Kay Granger 1026 Longworth House Office Building Washington, DC 20005 The Honorable Richard Shelby 304 Russell Senate Office Building Washington, DC 20005 The Honorable Patrick Leahy 437 Russell Senate Office Building Washington DC 20005 Dear Chairs and Ranking
Initial NCRC Analysis of the FDIC and OCC Notice of Proposed Rulemaking Concerning the Community Reinvestment Act
In December 2019, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) issued a notice of proposed rulemaking (NPRM) that would considerably weaken the regulations implementing the Community Reinvestment Act (CRA), a law designed to combat redlining by requiring banks to affirmatively and continually meet community needs for