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.
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.
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.
(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 […]
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.
(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 […]
The Consumer Financial Protection Bureau (CFPB) just released an updated advisory calling on financial institutions to better report suspected elder financial exploitation, which is extremely underreported.
Since the financial crisis, the CFPB’s QM rules have helped ensure that the nation’s financial institutions provide low- and moderate-income (LMI) families with prudent and sustainable mortgage loans. The CFPB must provide alternatives that ensure that the LMI borrowers benefiting from the GSE Patch today continue to have viable paths to homeownership.
Fair housing laws protect minorities from discrimination, but they haven’t eliminated bad behavior in the lending and housing industries.
Banks often tout the benefits of merging. The result depends on a variety of factors.
BB&T Corporation (NYSE: BBT), SunTrust Banks, Inc. (NYSE:STI) and the National Community Reinvestment Coalition (NCRC) today announced the creation of a three-year, $60 billion community benefits plan for the region served by Truist Financial Corporation, the combined company to be created through the proposed merger of the two banks. The plan, based upon discussions between […]
On the eve of Washington, D.C., and the National Capital Region’s 2019 Pride festivities, 1,000 self-described dykes took to the streets on June 7 to protest displacement in the city, bringing the Dyke March back to D.C. for the first time in 12 years.
President Trump signed an executive order to create a new administrative office that is expected to tackle the affordable housing crisis facing America. NCRC looks forward to working with the council on expanding the nation’s affordable housing inventory.
The National Community Reinvestment Coalition (NCRC) has hired Min. David Street as director of membership and organizing.
HUD’s hiring of Eric Blankenstein, who is accused of posting racist blogs, is unbelievable.