NCRC condemns CFPB move to gut payday loan restrictions
Today, the Consumer Financial Protection Bureau (CFPB) issued a small-dollar loan final rule that will strip away protections that had been the hallmark of the original 2017 rule.
Press Releases
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Trump threatens to “end” an anti-segregation rule that’s already crumbling under his administration
In a tweet yesterday, President Trump threatened a vital piece of the 1968 Fair Housing Act (FHA). The 2015 Affirmatively Furthering Fair Housing (AFFH) rule finally addressed and strengthened the FHA requirement that the government do something to end housing discrimination and segregation.
FHFA proposes new regulatory capital framework for GSEs
Today, the Federal Housing Finance Agency (FHFA) published a proposed rulemaking that creates a new regulatory capital framework for Fannie Mae and Freddie Mac, known together as the government-sponsored enterprises (GSEs).
NCRC applauds House passage of resolution to save anti-redlining law
Today, the House of Representatives voted to pass H.J. Res 90, which disapproves of the Office of the Comptroller of the Currency’s (OCC’s) new Community Reinvestment Act (CRA) rules. If the resolution is passed into law, it would make the CRA final rule null and void.
NCRC statement on Supreme Court Consumer Financial Protection Bureau ruling
Today, the Supreme Court ruled that the Consumer Financial Protection Bureau’s (CFPB) structure is unconstitutional. The ruling ended what was supposed to be the director’s total independence from the president, by giving the president the authority to fire the director at will.
Mortgage data reveals disparities in same-sex lending
Same-sex couples paid higher interest rates and closing fees on home loans, a new analysis found.
Community Reinvestment Groups Sue Trump Administration For Unlawfully Gutting Anti-Redlining Rules
Today, the National Community Reinvestment Coalition (NCRC) and the California Reinvestment Coalition (CRC), represented by Democracy Forward and Farella Braun + Martel, filed suit against the Office of the Comptroller of the Currency (OCC) for unlawfully eviscerating the vital anti-redlining rules put in place under the Community Reinvestment Act (CRA).
The CFPB’s Revisions to the Qualified Mortgage Rules (the “GSE Patch”)
A price-based alternative, combined with existing statutory provisions and the additional regulatory safeguards outlined in the CFPB’s proposed rule, has the potential to improve access for LMI and minority borrowers, but it is critical to consider this proposal within the context of other federal policy changes affecting the nation’s housing finance system and the broader impacts of COVID-19 on LMI households and credit standards throughout the mortgage market.
NCRC Hires Brad Blower as New General Counsel
The National Community Reinvestment Coalition (NCRC) has added a new General Counsel.
NCRC, First Merchants Bank Announce $1.4 Billion Community Benefits Plan
Five-year reinvestment plan directs resources to underserved communities.
Study: Before COVID-19, a small number of booming cities struggled with gentrification. The rest simply struggled.
San Francisco was the most intensely gentrified city in America from 2013 to 2017, a new study found. But the emergence of COVID-19 exposed deep economic and social fault lines nationwide. While a small number of cities were booming, most were not.
NCRC supports House resolution to overturn new CRA rules
House Financial Services Committee Chair Rep. Maxine Waters (D-CA) and Rep. Gregory Meeks (D-NY), also a member of the Financial Services Committee, introduced yesterday a Congressional Review Act resolution to overturn the Community Reinvestment Act (CRA) rules finalized this month by the Office of the Comptroller of the Currency (OCC).
NCRC Statement on New PPP Flexibility Act
This week, the Senate passed the Payment Protection Program (PPP) Flexibility Act, already passed by the House in May, sending the bill to the president, who is expected to sign it into law. While the act makes necessary improvements to the PPP, more needs to be done to ensure money is going to minority and women-owned businesses and the smallest small businesses.
NCRC Hires Kathryn Orr as New Director of Entrepreneurship
The National Community Reinvestment Coalition (NCRC) has added its first Director of Entrepreneurship.
NCRC Hires Adam Rust as New Senior Policy Advisor on Digital Banking, Consumer Lending
The National Community Reinvestment Coalition has added a new senior policy advisor to its Membership and Policy team.
