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
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
Caregivers Face Additional Financial Strains That Limit Retirement Funds
For nearly two decades, November has been recognized as National Family Caregivers month to spotlight the more than 40 million caregivers who provide unpaid support to aging parents, spouses, the disabled and friends.
Proposed Changes to the Community Reinvestment Act Will Be Disastrous for Low- and Moderate-Income Communities
The government’s plan to change how it enforces the Community Reinvestment Ac is “fundamentally flawed” and will significantly weaken the law, according to analysis of the proposal by the National Community Reinvestment Coalition (NCRC).
Summary Fact Sheet on the OCC and FDIC CRA Proposed Rule
In the words of dissenting Federal Deposit Insurance Corporation (FDIC) Board member Martin Gruenberg, the FDIC and the Office of the Comptroller of the Currency’s (OCC) Notice of Proposed Rulemaking (NPRM) on the Community Reinvestment Act (CRA) “is a deeply misconceived proposal that would fundamentally undermine and weaken the Community Reinvestment Act.” The agencies would
NCRC Letter to CFPB Director Requesting Significant Improvement in the Public Dissemination of HMDA Data
December 9, 2019 Ms. Kathy Kraninger Director Consumer Financial Protection Bureau 1700 G. St. NW Washington DC, 20552 Dear Director Kraninger: Widely available and accessible Home Mortgage Disclosure Act (HMDA) data has been instrumental to achieving the statutory purpose of HMDA of assessing whether lending institutions are serving the housing and credit needs of communities.
Diverse coalition issues joint statement on proposed changes to Community Reinvestment Act
10 national civil rights and economic justice leaders, including NCRC, issue a strong statement against the government’s plan to weaken the Community Reinvestment Act
NCRC CEO Jesse Van Tol statement on FDIC, OCC Notice of Proposed Rulemaking for Community Reinvestment Act
Today, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) released a notice of proposed rulemaking (NPRM) for changes to the Community Reinvestment Act (CRA). While the National Community Reinvestment Coalition (NCRC) is currently analyzing the NPRM, preliminary assessments are concerning. Jesse Van Tol, CEO of NCRC, made
More Than 500 Community Organizations Urge FDIC To Not Join Flawed Notice of Proposed Rulemaking for Community Reinvestment Act
Today, 516 state and national community-based organizations urged the Federal Deposit Insurance Corporation’s (FDIC) Board of Directors to not join the Office of the Comptroller of the Currency’s (OCC) notice of proposed rulemaking (NPR) for the Community Reinvestment Act (CRA).
How to Evaluate Community Development Financing and Services Under CRA
In anticipation of the reform proposals to the Community Reinvestment Act (CRA) expected this week, I am continuing the review of performance measures on CRA exams. The most recent blog looked at performance measures on the lending test. This one will scrutinize performance measures on the investment and service test.
How to Pay Tribute to the Nation’s Native American Heritage
With the holiday shopping season going into overdrive, it is important to pay tribute to Native Americans. Now when we say to pay tribute, we literally mean pay, with money, by making purchases from Native American small businesses.
NCRC’s comment on reporting of data on loans to small businesses and farms
(Download) December 9, 2019 RE: Docket ID OCC-2019-0021, Loans to Small Businesses and Small Farms To Whom it May Concern: The National Community Reinvestment Coalition (NCRC), an association of more than 600 community-based organizations that promote access to basic banking services, affordable housing, entrepreneurship, job creation and vibrant communities for America’s working families, suggests that
Do CRA Exams Measure Retail Lending Well?
As we get closer to proposed changes to the Community Reinvestment Act (CRA), a sober assessment of the effectiveness of various parts of CRA exams will help us react to the proposed changes.
ISSUE BRIEF: FinTech and Older Adults
Introduction Fintech, or “financial technology,” is an industry on the rise to assist in personal financial management and documentation in order to increase monetary security and reduce fraud and exploitation. The fintech industry utilizes specialized software and algorithms on electronic devices, such as computers and mobile phones, to detect unusual spending activity. This fairly new
The Economic Reality of Native Americans and the Need for Immediate Repair
As we celebrate and recognize Native American Heritage Month this November, it is vital to acknowledge their growing population, socio-economic challenges and advancements in comparison to other ethnic groups.
Poor Old People: The Graying of Racial and Gender Wealth Inequality
While it is clear the racial wealth divide grows sharply with age, there is very little understanding of retirement security best practices for low-wealth seniors.
New Penn Institute CRA Research Compendium Suggests Incremental Change is Best Path for CRA Reform
Boldly called “The Future of the Community Reinvestment Act,” the publication has a series of articles examining retail lending, community development financing and branching of banks.
