2019 Just Ambitious Awards
NCRC’s DC Women’s Business Center (WBC) celebrated women entrepreneurs at the 2019 Just Ambitious Small Business Awards ceremony on October 9!
Comment Letter on Advanced Notice of Proposed Rulemaking on HMDA Data Points
October 15, 2019 Comment on Advance Notice of Proposed Rulemaking (ANPR) Concerning HMDA Data Points Docket No. CFPB-2019-0020 To Whom It May Concern: The undersigned organizations (55 national and local organizations) oppose any dilution or diminishment of the new and enhanced Home Mortgage Disclosure Act (HMDA) variables added by the 2015 final rule issued by
Comment Letter on Notice of Proposed Rulemaking Concerning Which Lenders Report Data
October 15, 2019 Docket No. CFPB-2019-0021 or RIN 3170-AA76 Notice of Proposed Rulemaking, HMDA Reporting Thresholds To Whom it May Concern: The undersigned organizations (214 national and local organizations) oppose the proposal of the Consumer Financial Protection Bureau (CFPB) to exempt thousands of lending institutions from reporting the Home Mortgage Disclosure Act (HMDA) data. As
Reparations Can Help Bridge The Racial Wealth Divide
Ever since the abolition of slavery more than 150 years ago, African Americans have been suffering from oppressive structures that uphold poverty. These enduring systems have resulted in the income and wealth disparities between Black and White communities we see today
Latinos, the Racial Wealth Divide and Rebuilding the American Middle Class
As National Hispanic Heritage Month comes to a close, the National Community Reinvestment Coalition (NCRC) developed a Latino Racial Wealth Snapshot to reflect on the diversity, culture and socioeconomic challenges facing the nation’s largest ethnic group of color. With a total of 58.8 million (foreign-born: 36%; native-born: 62%), the Latino community ranks at 18.1% of the U.S.
Racial Wealth Snapshot: Latino Americans
Defining Hispanic and Latino In census data, Hispanic is the term most often used to describe the ethnicity of the people in the United States from Spanish speaking countries. However, it is most often thought of as a person from or has ancestry in Latin America, excluding people from Spain. The term Latino, shorthand for
Member Spotlight: Q&A with José Antonio Ramírez
To honor our Hispanic and Latino 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.
How the Racial Wealth Divide is Weakening the American Middle Class
Stronger data, better monitoring and bold policy proposals are needed to address the national crisis of racial wealth inequality. 2020 must be the year the nation starts to turn back the ongoing racial wealth divide.
Member Spotlight: Q&A with Angel Figueroa
To honor our Hispanic and Latino 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. Angel Figueroa is the co-founder, Chief Executive Officer (CEO) and Chief Operations Officer (COO) of the I-LEAD Charter
Starved!: Significant Mortgage Lending Disparities Still Persist
Executive summary The National Community Reinvestment Coalition (NCRC) analyzed recent mortgage and small business lending activity in areas that were categorized and “redlined” by the Home Owner’s Loan Corporation (HOLC) during the 1930s. HOLC examiners were sent to over 200 cities 80 years ago to determine the risk associated with neighborhoods. This information was used
National Community Reinvestment Coalition’s Written Testimony for the U.S. House Financial Services Committee’s Diversity and Inclusion Subcommittee Hearing, ‘Examining the Racial and Gender Wealth Gap in America,’ Washington, DC, September 24, 2019
Good afternoon, thank you for inviting me here as Chief of Race, Wealth and Community of the National Community Reinvestment Coalition (NCRC) to speak about the racial wealth divide and what must be done to address this critical issue. NCRC was formed in 1990 and has grown into an association of more than 600 community-based
Member Spotlight: Q&A with Aidza Antonio Thomas
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.
Unusual Homeownership Project Provides Hope of Affordability for Working-Class Individuals and Families
The Central Ohio Community Land Trust (COCLT), a subsidiary of the Central Ohio Community Improvement Corporation (COCIC), has signed an agreement with NCRC Housing Rehab Fund to build 20 new homes in the Near Eastside and Southside neighborhoods.
The $90 Billion Bill We Pay Each Year for Non-Bank Mortgage Lenders
A $90 billion premium comes out of the equity that we all pay. Higher fees make it harder for renters to become homeowners. They erode the price a seller can expect to receive for their home. This is a bill that falls disproportionately on LMI and minority families, one the reinforces the growing racial and income wealth gaps.
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.
NCRC’s HMDA 2018 methodology: How to calculate loan price
High-cost loans are often used as a proxy for subprime or even predatory mortgages. More accurate data on the loan price would go a long way to confirming if these loans are in fact dangerous, or if the higher interest rate reflects other legitimate factors.
NCRC’s HMDA 2018 methodology: How to calculate race and ethnicity
The result of the 2010 Dodd Frank Act, the 2015 CFPB rule and the 2018 Congressional update was the expansion of ethnicity fields in HMDA datat from one possible choice to five for both the applicant and co-applicant.
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.
