Racial Wealth Snapshot: African Americans and the Racial Wealth Divide
Defining African American Though a term that has personal meanings and different connotations for many, “African American” is defined by the U.S. Census as “a person having origins in any of the Black racial groups of Africa,” and used synonymously with the simple term “Black.” These African roots can be found in an array of origins and
Eliminating Financial and Physical Barriers to Housing for People with Disabilities in Philadelphia
Accessible and affordable housing is a prevalent issue in major cities. In 2016, Philadelphia was found to have the highest disability rate among the ten largest cities in the U.S. with 16% of Philadelphians identified as having a disability.
OCC, FDIC Makes Prudent Choice With Extension of CRA Comment Period
“Although the OCC and FDIC did not extend the comment period the additional 60 days that NCRC, our members and members of Congress called for several weeks ago, the agencies still made a prudent choice with a 30-day extension,” said Jesse Van Tol, NCRC CEO.
The New York Times: An Algorithm That Grants Freedom, or Takes It Away
Across the United States and Europe, software is making probation decisions and predicting whether teens will commit crime. Opponents want more human oversight.
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,
Trump’s Annual Budget Proposal Bad for Economic Justice
Today, the Trump Administration released its FY 2021 budget proposal, which would either eliminate or drastically reduce funding for numerous federal housing and community development programs that help lower-income families climb into the middle class.
Rural America Is Also Facing An Affordable Housing Crisis
People experiencing homelessness in rural areas are often referred to as the “hidden homeless.”
Could Lack of Impact Assessment in OCC and FDIC Proposal Break CRA?
A cardinal rule of any rulemaking is that a federal agency must use data and analysis to assess the impact of its proposed changes to a regulation. Based on NCRC’s analysis so far, it appears that the OCC and FDIC have flagrantly violated this fundamental rule.
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
I fell for America’s white lie, entrepreneurship
Entrepreneurship is a capital-intensive experience which makes it quite challenging for those with little access to capital to pursue.
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
Myths and Facts: A review of Otting testimony on proposed changes to the Community Reinvestment Act
The Comptroller of the Currency, Joseph M. Otting, submitted testimony in advance of his appearance before the House Financial Services Committee on Jan. 29, 2020. His testimony cited and challenged NCRC’s analysis of a proposal to overhaul rules that enforce the Community Reinvestment Act. This is NCRC’s response to Otting’s testimony.
Community Leaders Speak Up Against Proposed Changes to CRA
“We know our community leaders are extremely well-informed and understand both the dangers of the proposed rule changes and also the vagueness of some of the most important details,” said Jesse Van Tol, NCRC’s CEO.
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
NCRC Civil Rights Testing Finds Discriminatory Practices in Housing
The practice of restricting neighborhoods to certain races or incomes was a significant part of America’s segregated past. Discrimination in lending and housing is generally less overt than it used to be, but it’s still a problem.
Call for nominations: Who are the new leaders of change for a just economy?
New awards program at the Just Economy Conference will recognize young economic and social justice leaders.
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
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
Absurd Examples Of What Would Qualify For Community Reinvestment Act Credit Under Proposed Rule Changes
Here are some of the most absurd examples of what would qualify for Community Reinvestment Act (CRA) credit under rule changes proposed by regulators.
NCRC’s Policy Director Testifies Before House on Disastrous CRA Reform Proposal
The Trump Administration’s banking regulators released a plan in December to upend the Community Reinvestment Act (CRA). Although released under the guise of being a modernization of the monumental civil rights legislation, Comptroller of the Currency Joseph Otting’s plan is a complete rewrite of the law.
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
Comment Period for AFFH Notice of Proposed Rulemaking Now Open
The U.S. Department of Housing and Urban Development (HUD) published today and opened up for public comments a plan to radically change the AFFH rule.
NCRC Submits FOIA Request for Missing Data in CRA Proposed Rule
Today, the National Community Reinvestment Coalition (NCRC) submitted a Freedom of Information Act (FOIA) request to the Office of the Comptroller of the Currency (OCC) for records related to the agency’s plan to revise Community Reinvestment Act (CRA) rules.
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
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
