Press Releases

The hypocrisy of discouraging lending to hard-working immigrants who pay taxes, while claiming that banks improperly ‘debanked’ some wealthy people based on their highly risky, often international, crypto transactions should be lost on no one.

“Access to the banking system should not be a race to the bottom. Companies that rely on the public infrastructure should be required to serve communities fairly, disclose where their money goes and meet real community reinvestment obligations,” NCRC President and CEO Jesse Van Tol.

NCRC is concerned that the bill’s stablecoin ‘yield’ prohibition may be too easy to evade. While the bill appears to prevent companies from paying consumers interest simply for holding stablecoins, it allows rewards tied to activity, loyalty, tenure and other product use.

“Any final stablecoin rule issued by the OCC must address the significant risk of deposit flight, the impact on community investment and lending and the current massive consumer fraud losses,” said NCRC Policy Director Tara Flynn.

Wednesday’s Supreme Court decision weakening a core provision of the Voting Rights Act is a severe setback for low- and moderate-income communities and communities of color who already face systemic barriers to economic opportunity. 

The Consumer Financial Protection Bureau’s (CFPB) final rule today is a massive step backward from the CFPB’s own 2023 rule and from Congress’s intent in enacting Section 1071.

The CFPB’s decision to eliminate disparate impact protections under ECOA is a real setback for fair lending.

Last week, NCRC submitted its comment on the CFPB’s Draft Strategic Plan for FY2026-2030.

Today, 215 civil rights, small business, farm, community, consumer, and other organizations from across the country sent a letter to the House Financial Services Committee urging them to oppose legislation that would weaken or further delay the implementation of the small business and farm loan fair lending data collection for another decade.

“We welcome the release of the remaining CDFI Fund appropriations. These funds are long overdue, and communities across the country need them now.”

Part of NCRC’s broader commitment to expanding access to quality employment and training opportunities for low- and moderate-income communities, “SNAP E&T 101: A Toolkit for Community-Based Organizations & Potential Third-Party Partners” is a comprehensive guide for workforce development and job training providers to get involved with SNAP E&T as third-party partners.

A national trust bank charter for Coinbase will grant it access to the federal banking system with none of the obligations traditional banks owe to the public.