More than 500 community-based groups send CRA reform letter to regulators
Today, 520 state and national community-based groups called on the three federal bank regulatory agencies that implement the Community Reinvestment Act (CRA) to not include a one-ratio metric in the upcoming proposed CRA rule change.
Letter to Regulators on Proposed CRA One-Ratio Reform
September 17, 2019 The Honorable Jerome H. Powell Chairman, Federal Reserve Board of Governors 20th Street and Constitution Avenue, NW Washington, DC 20551 The Honorable Joseph Otting Comptroller of the Currency 400 7th Street, SW Washington, DC 20219 The Honorable Jelena McWilliams Chairman, Federal Deposit Insurance Corporation 550 17th Street, NW Washington, DC 20429 Dear
Member Spotlight: Q&A with Will Gonzalez, Esq
To honor our Hispanic members during Hispanic Heritage Month, we’re shining the spotlight this month on four leaders whose work embodies what it means to give everyone in our communities a chance at economic justice.
NCRC comment letter on AmeriNat charter application
September 12, 2019 RE: NCRC Comment Letter on AmeriNat Charter Application To Whom it May Concern: The National Community Reinvestment Coalition (NCRC) maintains that AmeriNat’s application for an Industrial Loan Charter (ILC) has not demonstrated a significant commitment to meeting the convenience and needs of the community to be served as required per the Federal
Explainer: How NCRC brings banks and local leaders together for community benefits agreements
Community benefits agreements (CBAs) are a way for banks to spell out, in writing, how they will satisfy CRA requirements when they merge. The agreements are between banks and community groups.
Small business lending and the racial wealth divide
There is growing recognition that wealth is a central indicator of the economic well-being and stability of households and that such low levels of wealth among blacks and Hispanics are a significant indicator of continuing deep racial economic inequality.
Community groups call on regulators to issue uniform CRA regulations
Today, a coalition of housing, consumer protection and community development organizations called on the three federal bank regulatory agencies that govern the Community Reinvestment Act (CRA) to issue uniform CRA regulations in an anticipated Notice of Proposed Rulemaking (NPR).
Letter to regulators on CRA regulatory actions
September 9, 2019 The Honorable Jerome H. Powell Chairman, Federal Reserve Board of Governors 20th Street and Constitution Avenue NW Washington, DC 20551 The Honorable Joseph Otting Comptroller of the Currency 400 7th St SW Washington, DC 20219 The Honorable Jelena McWilliams Chairman, Federal Deposit Insurance Corporation 550 17th Street, NW Washington, DC 20429 Dear
NCRC supports removing GSEs from conservatorship, but not like this
“While NCRC supports ending the conservatorship of Fannie Mae and Freddie Mac, the fundamental restructuring of the nation’s housing finance system envisioned across several federal agencies and programs represents a significant turnaround in the nation’s commitment to facilitating homeownership for low- and moderate-income (LMI) families,” said NCRC CEO Jesse Van Tol.
National Community Reinvestment Coalition’s written testimony for the U.S House committee on financial services field hearing in Houston, Texas, September 4, 2019
Our results show a pattern of disinvestment and discouragement that contributes to the wide disparities in small business ownership for blacks and Hispanics in the U.S.
Tests show inferior treatment of minority business owners at banks, and data shows a steep decline in government-backed lending to black entrepreneurs
Better-qualified black and Hispanic testers who shopped for small business loans at Los Angeles area bank branches were treated worse than less qualified white testers, a new study found. The study, from the National Community Reinvestment Coalition (NCRC), also found steep declines in government-backed lending to black business owners between 2008 and 2016.
New HMDA data shows need to strengthen CRA, close loopholes, apply to more institutions
Just hours before the start of the Labor Day long weekend, the Consumer Financial Protection Bureau (CFPB) released 2018 Home Mortgage Disclosure Act (HMDA) data. It is the most complete record of mortgage lending in the United States. The data showed non-banks extended their dominance of home lending and that banks essentially dropped out of the government-backed FHA program that helps low- and moderate-income (LMI) borrowers.
Deep-rooted discrimination impacts health of LGBTQ community
As a result of the Trump Administration’s rollback of affordable healthcare and harsh cuts to affordable housing opportunities, many Americans are struggling with access to quality healthcare and stable housing. The combined toll of both of these issues, as well as pervasive and persistent discrimination, consistently put LGBTQ groups among the most affected. For decades,
NCRC Comment letter on Rakuten Charter application
(Download) August 27, 2019 RE: NCRC Comment Letter on Rakuten Charter Application To Whom it May Concern: The National Community Reinvestment Coalition (NCRC) maintains that Rakuten’s application for an Industrial Loan Charter (ILC) has not demonstrated a significant commitment to meeting the convenience and needs of the community to be served as required per
‘There you go again’ – CATO Institute joins chorus of falsehoods levied at the Community Reinvestment Act
In the Age of Fintech and Bank Competition,CATO Policy Analyst Diego Zuluaga maintained that the Community Reinvestment Act (CRA) should be repealed and replaced with a system of tradable credits. He started off his argument by asserting that the rationale for CRA is outdated since branching restrictions and other regulations that constrained competition have been
Member spotlight: Q&A with ANHD’s Jaime Weisberg
Jaime Weisberg is the senior campaign analyst at the Association for Neighborhood & Housing Development (ANHD), a member organization of the National Community Reinvestment Coalition (NCRC).
Wealth equity includes health equity
NCRC will host a live webinar on September 5 about the role of health anchors and collaborative initiatives between hospital systems and community stakeholders.
NCRC strongly condemns HUD proposed rule change that severely weakens the Fair Housing Act
The U.S. Department of Housing and Urban Development (HUD) today announced a proposed rule change that would severely weaken the “disparate impact” protection under the Fair Housing Act, which requires banks, landlords and other housing providers to choose policies that apply fairly to all persons.
Reading list: Voices to broaden our horizons
From autobiographies on inspirational women to fictional novels set in African tribal nations, reading these books will provide you with a variety of diverse perspectives.
Don’t diminish the importance of homeownership in CRA reform
With proposed changes to Community Reinvestment Act rules expected in late summer or early fall, we must remind federal regulatory agencies not to diminish the importance of home mortgage lending in CRA exams.
What you need to know about income inequality
While many economic indicators are better than they have been in years, leading to recently published reports asserting that income inequality is not as bad as we have been told, many people are working multiple jobs just to get by.
Community groups call on Trump administration to make homeownership more accessible and affordable for LMI and minority families, not less
A coalition of housing, consumer protection and community development organizations yesterday called on the Trump administration to not undermine policies that help low- and moderate-income (LMI) people buy homes, and avoid changes that would make home-buying harder for millions.
Letter to the White House on affordable housing
(Download) July 30, 2019 President Donald J. Trump The White House 1600 Pennsylvania Avenue NW Washington, DC 20500 Dear President Trump: There have been a number of recent actions by the White House signaling the first real semblance of an Administration policy on affordable housing and homeownership. At the outset, we want to thank your
Report: Bank regulators need to plug loopholes in Community Reinvestment Act exams
The NCRC study, based on government exams of the nation’s 50 biggest banks, found some banks get credit for investments outside of their assessment areas (AAs) even when those banks underinvested in the areas they are supposed to serve first. Meanwhile, other banks get little or no credit outside of assessment areas.
An evaluation of assessment areas and community development financing: Implications for CRA reform
(Download) INTRODUCTION The Community Reinvestment Act (CRA) has leveraged trillions of dollars of loans, investments and services for low- and moderate-income (LMI) borrowers and communities. Since 1996, banks have made more than $1 trillion in community development loans, which finance affordable housing, economic development projects and community facilities for LMI communities. Likewise, banks have issued
