NCRC and New York Community Bancorp announce $28 billion community Benefits agreement to support communities of color, small businesses, and ongoing commitment to responsible multi-family lending
New York Community Bancorp, Inc. (NYCB) and the National Community Reinvestment Coalition (NCRC) announced today the company’s commitment to provide $28 billion in loans, investments and other financial support to communities and people of color, low- and moderate-income (LMI) families and communities, and small businesses.
Group letter on CFPB’s RFI on HMDA
(Download) January 21, 2022 RE: Request for Public Comment, HMDA Assessment, Docket No. CFPB-2021-0018 To Whom It May Concern: The 54 undersigned organizations extol the value of the new and enhanced Home Mortgage Disclosure Act (HMDA) variables added by the 2015 final rule issued by the Consumer Financial Protection Bureau (CFPB). The Dodd-Frank Wall Street
NCRC Submits Letter to FDIC, OCC, Federal Reserve Supporting FDIC’s action to review bank merger approval framework
The National Community Reinvestment Coalition (NCRC) today submitted a letter to the Federal Deposit Insurance Corporation (FDIC) to express support from its members to introduce a Request for Comments to review the agency’s bank merger approval framework, and called on the Office of the Comptroller of the Currency and the Federal Reserve Board to do the same.
Report: Low- and moderate-income families and many people of color continue to be excluded from the mortgage market
While 2020 was disastrous for millions of Americans impacted by the coronavirus, the mortgage industry was in overdrive as interest rates dropped to levels not seen since the housing crash of 2009. In a new report, the National Community Reinvestment Coalition (NCRC) found that the explosion of refinance lending reinforced historical patterns of disinvestment in
NCRC 2020 Home Mortgage Report: Examining Shifts During COVID
Since the inception of the mid-20th century Civil Rights era and the implementation of racially blind laws such as the Community Reinvestment Act, we can point to little progress in bridging wealth and homeownership disparities.
NCRC Applauds Nomination of Sarah Bloom Raskin for Federal Reserve Board Vice Chair for Supervision, and Lisa Cook and Philip Jefferson as Governors
President Biden today nominated former Treasury Department Deputy Secretary Sarah Bloom Raskin to serve as the Vice Chair for Supervision of the Federal Reserve Board and Lisa Cook and Philip Jefferson as Governors.
Dr. King’s Testament of Hope Amidst Melancholy and Discouragement in 2022
As has been true throughout my life, the words of Dr. King, though written over 50 years ago, speak clearly to the times I am living in.
Call for Submissions: Speak at the 2022 Just Economy Conference
The Just Economy Conference is the national event for community, policy, government, business and foundation leaders working toward a just economy that not only promises but delivers to all Americans opportunities to build wealth and live well.
The disparate impact of using “Ever Charged” on a commercial loan application
An NCRC evaluation of small business loan applications from a sample of seven banks in Washington, DC revealed that some lenders discriminate against applicants who have been charged at any time in their lives with a criminal offense.
NCRC submits comment to the CFPB on Section 1071 Proposed Rule
The National Community Reinvestment Coalition (NCRC) submitted this week a detailed comment to the Consumer Financial Protection Bureau (CFPB) for its proposed rule on reporting and disseminating small business loan data required by Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
NCRC Hires Adnan Bokhari as Executive Vice President and CFO
hief Financial Officer. He will play a key role in advancing NCRC’s strategic priorities, including building organizational resiliency through the combined power of people and systems.
Jan. 6 should be a lasting reminder that American democracy is fragile
across the nation through changes to state laws and elections administration that could enable local political appointees or state legislatures to manipulate voting, restrict access or even overturn results. They won’t need a riot.
NCRC Comment on Proposed Section 1071 Small Business Lending Data Collection
(Download full comment) Introduction January 4, 2022 RE: Docket No. CFPB-2021-0015, Section 1071 Small Business Lending Data Collection To Whom it May Concern: The National Community Reinvestment Coalition (NCRC) appreciates this opportunity to comment on the proposed rule for reporting and disseminating small business loan data required by Section 1071 of the Dodd Frank Wall
NCRC Comment on NY State amendment to CRA concerning small business lending data
(Download) December 22, 2021 Comment regarding proposed amendment to 3 NYCRR 76 compliance with Community Reinvestment Act Requirements To Whom it May Concern: The National Community Reinvestment Coalition (NCRC), an association of 600 community organizations dedicated to increasing access to credit and capital for traditionally underserved communities, commends New York State for amending its banking
Community Reinvestment Groups Commend Repeal of Disastrous Trump-era CRA Rule Changes
Today, in response to the OCC’s rescission of the rule, the National Community Reinvestment Coalition (NCRC) and the California Reinvestment Coalition (CRC) agreed to dismiss their lawsuit challenging the rule.
NCRC Calls on CFPB to Prioritize Needs of Consumers and Small Businesses Above Big Tech
(Download) December 21, 2021 Rohit Chopra Director Consumer Financial Protection Bureau 1700 “G” St. NW Washington, DC 20552 Docket No. CFPB-2021-0017: Notice and Request for Comment Regarding the CFPB’s Inquiry into Big Tech Payment Platforms Dear Director Chopra: The National Community Reinvestment Coalition (NCRC) is an association of more than 600 community-based organizations that work
NCRC’s comment on the Illinois Advanced Notice of Proposed Rulemaking concerning the Illinois Community Reinvestment Act.
(Download) December 20, 2021 Illinois Department of Financial and Professional Regulation Attn: Craig Cellini 320 West Washington, 3rd Floor Springfield, IL 62786 Comments on Advanced Notice of Proposed Rulemaking (ANPR) regarding Illinois Community Reinvestment Act (Public Act 101-657, codified at 205 ILCS 735) Dear Mr. Cellini: The National Community Reinvestment Coalition (NCRC), an association of
NCRC’s Field Empowerment Fund Expands Funding for COVID-19 Economic Recovery
NCRC is thrilled to see the impact grantees are making with the support of the Field Empowerment Fund. The program’s final report and second round of funding will be available in Spring 2022.
NCRC Supports Nomination of Sandra Thompson as FHFA Director
As acting-director of the FHFA, Thompson has already taken important steps to renew commitment to the affordable housing mission of the GSEs, including a new goal-focused exclusively on communities of color.
NCRC Welcomes OCC Final Rule to Rescind its Disastrous 2020 CRA Rule
Getting the disastrous 2020 CRA rule fully rescinded was a hard-fought battle that involved comments from hundreds of our members across the nation and this is a huge victory for them and their communities. We’re relieved and welcome this action today from the OCC.
NCRC welcomes FDIC review of bank merger guidelines
Some banks and other lenders have gotten away for too long with racial discrimination and bias in lending.
‘ShopHER’ at Union Station Pops Up for DC Shoppers
New popup retail space features globally sourced, produced and inspired goods by women-owned businesses from the DC Metro area.
mystery shopper tests show continuing racial discrimination in small business lending at banks, made worse by a dash of socioeconomic bias
To better understand the interconnectedness between race and SES within the small business lending arena, the National Community Reinvestment Coalition (NCRC), in conjunction with our academic partners – Dr. Sterling Bone (Utah State University), Dr. Maura Scott (Florida State University) and Dr. Glenn Chrisitinsan (Brigham Young University) – conducted matched-pair testing at financial institutions in the Washington, DC, metropolitan area between November and December 2020.
Does Perceived Socio-Economic Status Impact Access to Credit in the Small Business Arena?
From November 1, 2020, to December 14, 2020, NCRC conducted multi-layered matched-
pair tests of 22 different financial institutions. The purpose of this study was to examine the
role of socio-economic status (SES), specifically perceived education, on the interactions
between race and treatment in the small business pre-application arena.
HUD takes important step to clearly and unequivocally support Special Purpose Credit Programs
The Department of Housing and Urban Development (HUD) issued yesterday a statement and legal opinion supporting the use of Special Purpose Credit Programs (SPCPs).
