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Press Releases

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NCRC To Regulators: Act Now To Establish A Coherent Regulatory Regime For Digital Assets

By / August 9, 2022 / Press Releases / 2 minutes of reading

Regulators should act expeditiously to protect consumers who hold digital assets, the National Community Reinvestment Coalition (NCRC) wrote to the Treasury Department in a comment filed Monday. “We are past the point of speculating that digital assets might end up hurting people someday. Consumers are being hurt now, so it is important that regulators act …

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$24 Million Settlement Of Modern-Day Redlining Case In Philadelphia Shows Government Takes Lending Discrimination Seriously

By / July 27, 2022 / Press Releases / 2 minutes of reading

The National Community Reinvestment Coalition (NCRC) on Wednesday applauded a $24 million settlement to punish serious intentional discrimination and redlining in the Philadelphia area, and urged the courts to endorse disciplinary action against Berkshire-Hathaway subsidiary Trident Mortgage Company proposed by the Department of Justice (DOJ) and Consumer Financial Protection Bureau (CFPB). “Lending discrimination is a …

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NCRC To Regulators: Reject Bank Mergers That Do Not Show Benefits To The Public

By / June 9, 2022 / Press Releases / 2 minutes of reading

The National Community Reinvestment Coalition (NCRC) filed a comment asserting that reviews of bank mergers must place a greater emphasis on the needs of the public.  The Bank Merger Act specifically stipulates that bank mergers must benefit the public. Yet as mergers have halved the number of banks in the United States over the past …

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NCRC, Columbia Bank and Umpqua Bank Complete $8.1 Billion Community Benefits Plan to Advance Economic Opportunity for Underserved Communities

By / May 26, 2022 / Press Releases / 11 minutes of reading

The National Community Reinvestment Coalition (NCRC), Columbia Bank (Columbia) and Umpqua Bank (Umpqua) announced an $8.1 billion Community Benefits Plan (Plan) that builds on both bank’s commitment to advance economic opportunity for individuals and support small business formation in historically underserved communities throughout its footprint.

New FedNow Rules Lack Fraud Protection

By / May 19, 2022 / Press Releases / 4 minutes of reading

The final FedNow rules announced today by the Federal Reserve Board lack protection against scams and fraud, which, if unaddressed, could leave consumers exposed when the payment service launches next year, warns advocates at the National Consumer Law Center, National Consumers League, and National Community Reinvestment Coalition (NCRC).