Those who serve as financial caregivers for older adults or people with disabilities may have unique worries and challenges brought on by COVID-19.
When the coronavirus first began to spread widely across the world, anti-Asian sentiments soon began to follow.
Proposed rule changes to the Community Reinvestment Act (CRA) could encourage the neglect of entire markets by the largest banks, a new study found.
(Download) March 24, 2019 The Honorable Joseph M. Otting Comptroller of the Currency The Honorable Jelena McWilliams Chairman, Federal Deposit Insurance Corporation Dear Comptroller Otting and Chairman McWilliams: On behalf of the undersigned organizations, the National Community Reinvestment Coalition (NCRC) requests an immediate suspension until the end of the health crisis of the comment period for the proposed changes to
Your credit reports and scores play an important role in your future financial opportunities. You can use these steps to manage and protect your credit during the COVID-19 (coronavirus) pandemic.
A diverse coalition of community-based organizations called on the OCC and the FDIC to immediately suspend the comment period for the proposed changes to CRA until after the health and financial crisis brought on by the coronavirus global pandemic is over.
Proposed OCC and FDIC Geographic Analysis of Home Mortgage and Small Business Lending: Permission to Decrease Lending for the Largest Banks?
Executive Summary The proposed changes to the Community Reinvestment Act (CRA) released by the Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC) would radically reconfigure the testing criteria for banks. A new testing regime would assess low- and moderate-income (LMI) home mortgage and small business lending with a demographic comparison
(Download) The Honorable Mitch McConnell Majority Leader U.S. Senate S-230, The Capitol Washington, DC 20515 The Honorable Chuck Schumer Minority Leader United States Senate S-221, The Capitol Washington, DC 20510 The Honorable Nancy Pelosi Speaker U.S. House of Representatives H-232, The Capitol Washington, DC 20515 The Honorable Kevin McCarthy Minority Leader U.S. House of Representatives
NCRC Applauds Federal Reserve, FDIC, OCC Efforts to Expand CRA Credit for Activities in Response to COVID-19
Today, the Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) released a joint statement providing guidance to financial institutions on how they can receive credit on their Community Reinvestment Act (CRA) activities to low- and moderate-income people and communities affected by the coronavirus.
As you plan for the potential impact of the coronavirus, there are a number of steps that you can take to help protect yourself or a loved one financially, both in the short and long term.
NCRC Applauds Congress and Trump Administration Efforts to Keep People in Their Homes, But More Needs to Be Done
“Today, we saw Congress and President Trump take important steps to protect Americans against both health and economic repercussions of COVID-19….this is a great first step, but there will need to be others,” said Jesse Van Tol, CEO of NCRC.
The coronavirus is quickly spreading across America, raising concerns that aren’t only health related. While the full economic implications of the disease are still unknown, what we do know is that the people who will face the biggest financial impacts of COVID-19 are the same people who are already financially strapped.
Earlier this year, the U.S. Department of Housing and Urban Development (HUD) released a new proposed rule to change the affirmatively furthering fair housing (AFFH) rule of the Fair Housing Act (FHA). This new proposal aims to set back years of progress by no longer enforcing meaningful community participation in the AFFH process. Without the crucial input of local community members who face housing inequalities, the new rule eliminates the main elements of accountability meant to address discrimination and inequality.
Nearly all banks that earned passing marks under current rules would be able to reduce their mortgage lending to low- and moderate-income (LMI) borrowers and communities under new rules proposed for the Community Reinvestment Act (CRA), a new study found.
“We applaud the Federal Reserve’s release of CRA data. They are practicing transparency and we look forward to fully analyzing the data. We’re also curious what it may reveal or imply about the OCC and FDIC proposal. The OCC and FDIC have failed to release data they referenced in their rule proposal,” said Jesse Van Tol, CEO of NCRC.
This article originally appeared on Shelterforce. A closer look at the relationship between health and the home repair needs of lower-income households. Medical and public health research has established clear and persuasive links between poor housing conditions and negative outcomes for residents’ physical and mental wellbeing. Inadequate housing can exacerbate chronic health issues, expose occupants to
Earlier this year, the U.S. Department of Housing and Urban Development (HUD) proposed a new AFFH rule that would reverse years of progress by no longer enforcing meaningful community participation in the fair housing planning process.
There are nearly 50 million African Americans in the U.S. today. Though the African American population continues to rise, their share of the nation’s wealth isn’t keeping up, according to the National Community Reinvestment Coalition’s recent African American Racial Wealth Divide Snapshot.
Proper implementation of Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act would reveal who is receiving small business loans and where they are located.
The Consumer Financial Protection Bureau (CFPB) filed a settlement agreement with the U.S. District Court for the Northern District of California that outlines court-ordered deadlines for implementation of Section 1071 of the Dodd-Frank Act.