Don’t blame the affordable housing goals for the financial crisis 

Federal Research Financial Crisis Inquiry Report (2010)[1] “Conclusions of the Financial Crisis Inquiry Commission” “We also studied at length how the Department of Housing and Urban Development’s (HUD’s) affordable housing goals for the GSEs affected their investment in risky mortgages. Based on the evidence and interviews with dozens of individuals involved in this subject area, […]

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Rebuttal to personal privacy of HMDA in a world of big data

Anthony Yezer’s recent white paper, Personal Privacy of HMDA in a World of Big Data, is part of the banking industry’s continued effort to limit public access to data collected by federal agencies.[1] Yezer’s paper, which was funded by the Mortgage Bankers Association, fundamentally challenges data collection and reporting under the Home Mortgage Disclosure Act […]

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NCRC condemns the Senate’s continuing resolution without protections for Dreamers 

Washington DC- John Taylor, President and CEO of the National Community Reinvestment Coalition, responds to the continuing resolution reopening the United States government on Monday, January 22nd. “Congress made an important stand last Friday but backed down too quickly. Democrats are running a high stake and risky gamble based on the assumption that the House of Representatives and […]

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Oppose H.R. 2954 – “The Home Mortgage Disclosure Adjustment Act”

Dear Representative, The undersigned civil rights, fair housing, consumer, and community organizations strongly urge you to oppose H.R. 2954, “the Home Mortgage Disclosure Adjustment Act”. The bill would undermine efforts to ensure that the nation’s mortgage lenders are serving all segments of the market fairly by exempting the vast majority of lenders from the updated […]

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Summary of NCRC recommendations regarding Treasury Department review of CRA

Introduction: Last year, President Trump issued an executive order mandating that federal agencies regulate the financial industry consistent with core principles including empowering consumers to make informed financial decisions and build wealth. In June, the Treasury Department responded to this executive order by publishing the first of a series of reports on the financial industry […]

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Joint letter: request for meeting to discuss preserving access and affordability in Government Sponsored Enterprise reform

We, the undersigned civil and human rights organizations, write to express our profound concern with the ongoing discussions in Congress about comprehensive Government Sponsored Enterprise (GSE) reform legislation, and to request a meeting to ensure that our perspectives are taken into account in this very important effort.

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Preserving the GSEs is key to preserving affordability

Nearly nine years after the U.S. government seized both of them at the height of the Great Recession, Fannie and Freddie remain under the control of the federal government. The good news is they’re profitable again. The bad news is they no longer play a significant role helping the working class obtain affordable home loans. 

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Sign-on letter regarding specific provisions of the “Tax Cuts and Jobs Act”

December 8, 2017 Dear Conferees: We, the undersigned members of the National Community Reinvestment Coalition (NCRC), are writing to urge you to adopt specific provisions included the Senate version of the “Tax Cuts and Jobs Act.” Although we have concerns overall with both versions of this bill, the Senate provisions regarding private activity bonds, the […]

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Would Trump’s CRA Reform Really “Do No Harm?”

Young doctors entering the medical field take the Hippocratic Oath requiring them to deliver quality and ethical care. This cardinal rule of medicine should be applied as the Trump administration mulls Community Reinvestment Act (CRA) reform. The first rule must be to “do no harm” and enact no “reform” that results in less lending and investing in underserved communities.

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Comment Letter on Public Dissemination of HMDA Data

November 22, 2017 Docket No. CFPB-2017-0025 Monica Jackson Office of the Executive Secretary Consumer Financial Protection Bureau 1700 G. St. NW Washington, DC 20552   Dear Ms. Jackson: The undersigned organizations appreciate that the Consumer Financial Protection Bureau (CFPB) carefully applied the balancing test in determining which of the new Home Mortgage Disclosure Act (HMDA) […]

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Senate plan helps banks, not the economy

Senate Banking Chairman Mike Crapo (R-Idaho) released the text of bipartisan “Economic Growth” legislation, which rolls back valuable fair lending requirements and protections from the dangerous banking practices that led to the 2008 financial crisis.

“This legislation will grow economic inequality rather than our economy, as its name suggests” said John Taylor, President and CEO of the National Community Reinvestment Coalition. “In the midst of several financial scandals, politicians on both sides of the aisle have again proven that their allegiances to Wall Street far surpass their promises to Main Street.”

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