Senator Warren proposes new vision for affordable housing and economic opportunity

WASHINGTON, D.C. – Today, Senator Elizabeth Warren announced a new bill tackling discriminatory lending, Community Reinvestment Act modernization, affordable homeownership and relief for families still recovering from the Great Recession.  Jesse Van Tol, CEO of the National Community Reinvestment Coalition (www.ncrc.org), made the following statement: “Senator Warren is proposing a bold vision for addressing financial […]

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It’s time to end GSE conservatorship, but not their affordability goals.

WASHINGTON, D.C. –  Today the House Financial Services Committee Chairman, Jeb Hensarling (R-TX), unveiled a bipartisan bill to reform the government-sponsored housing enterprises (GSEs). In a press release, Hensarling vowed to end the conservatorship of Fannie Mae and Freddie Mac by winding them down completely. Hensarling’s press statement fails to mention any efforts to tackle […]

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Forecast: Banking rule changes could reduce lending in poor neighborhoods by $105 billion

WASHINGTON, D.C. – A new forecast projects that changes to the Community Reinvestment Act could reduce lending in lower-income communities up to $105 billion dollars in the next five years. The forecast by researchers at the National Community Reinvestment Coalition comes as the Trump administration considers ideas pushed by banks to change enforcement of the […]

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OCC to review Community Reinvestment Act; Changes could impact billions in loans and investments annually

WASHINGTON, D.C. – Today, The Office of the Comptroller of the Currency (OCC) released an Advanced Notice of Proposed Rulemaking to change how banks are tested for compliance with the Community Reinvestment Act (CRA). The 1977 law requires banks serve the needs of all communities in which they are chartered to do business. The OCC […]

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