diversity

BB&T, SunTrust and NCRC announce $60 billion community investment commitment for new Truist bank

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 […]

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Comment on HUD’s Opportunity Zone policy

(Download) June 17, 2019 Public Finance and Regulatory Analysis Division Office of Policy Development and Research Department of Housing and Urban Development 451 7th Street SW, Room 8216 Washington, DC 20410-0500 Via Federal eRulemaking Portal Re: Docket No. FR–6155–N–01 Request for Information Review of HUD Policy in Opportunity Zones  Dear Secretary Carson: On behalf of […]

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U.S. Opportunity Zones and gentrified neighborhoods

U.S. Opportunity Zones and gentrified neighborhoods NCRC has found that 69% of neighborhoods that gentrified between 2000 and 2017 are either an Opportunity Zone or they are adjacent to one. For more information on NCRC’s work on gentrification and displacement see our report here. For more information on Opportunity Zones see the following websites: https://www.irs.gov/newsroom/opportunity-zones-frequently-asked-questions […]

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The purpose and design of the Community Reinvestment Act (CRA): An examination of the 1977 hearings and passage of the CRA

A version of this article appeared first in Conference of Consumer Finance Law, Quarterly Report, Vol. 72, No. 4 Introduction In 2019, the Community Reinvestment Act (CRA) will be forty-two years old.[1]  Congress enacted the CRA in 1977 as a community development initiative that sought to leverage the financial resources of private sector institutions.  Senator […]

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Notice of proposed rulemaking, HMDA reporting thresholds

(Download) June 12, 2019 Docket No. CFPB-2019-0021 or RIN 3170-AA76 Notice of Proposed Rulemaking, HMDA Reporting Thresholds To Whom it May Concern: The undersigned organizations (158 national and local organizations) oppose the proposal of the Consumer Financial Protection Bureau (CFPB) to exempt thousands of lending institutions from reporting the Home Mortgage Disclosure Act (HMDA) data. […]

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Bank branches are still essential for small business communities

Bank branches matter. Countering the overwhelming messaging from many banks and even some regulators, the National Community Reinvestment Coalition (NCRC) has published several reports over the years that detail how much branches still matter for consumers and communities, even in 2019. Just look at the number of branches that banks opened in the last year, and it is clear that they also know the value of a physical outpost in the community they want to serve.

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NCRC comment letter on Robinhood’s charter application

May 29 2019 RE: NCRC Comment Letter on Robinhood’s Charter Application To Whom it May Concern: The National Community Reinvestment Coalition (NCRC) maintains that Robinhood’s charter application has not demonstrated a significant commitment to meeting the convenience and needs of the community to be served as required by the Community Reinvestment Act (CRA) and the […]

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Four years, $13 million and dozens of hands: how ‘affordable housing’ gets made in America

Market Watch, May 23, 2019: Four years, $13 million and dozens of hands: how ‘affordable housing’ gets made in America The story of the tenants of 410 Cedar St. isn’t just the story of one Washington, D.C., building; it’s the story of how America creates “affordable housing” — and why it’s so incredibly hard. Washington, […]

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NCRC applauds House’s passage of Consumer First Act

Today, the U.S. House of Representatives passed the Consumer First Act, a bill introduced last fall by Rep. Maxine Waters (D-California) to protect the Consumer Financial Protection Bureau (CFPB) from efforts by the Trump administration to dismantle it. Jesse Van Tol, CEO of the National Community Reinvestment Coalition (www.ncrc.org), made the following statement: “We applaud […]

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Small business lending data is the iceberg in our economic ocean

In September 2018, the Federal Deposit Insurance Corporation (FDIC) released the results of a survey of 1,200 banks on small business lending in America. It found that small business lending is threatened by the decline of smaller banks and the reduction of bank branches in many communities. But just as revealing was what the survey didn’t find. More information that would be essential for policy and regulatory decisions remains concealed, invisible to the public.

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