Press Releases

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NCRC Submits Comment Supporting HUD’s Proposed Disparate Impact Rule

By / / Press Releases / 2 minutes of reading

The National Community Reinvestment Coalition (NCRC) today submitted a comment letter to the Department of Housing and Urban Development (HUD), applauding HUD for its proposed rule setting the standard for bringing disparate impact claims under the Fair Housing Act. In the comment letter, NCRC also urged HUD to offer guidance to the lending and insurance industries on the proper use of predictive technologies in underwriting, particularly with regard to artificial intelligence, machine learning and alternative data.

NCRC Submits Comment Supporting HUD’s Proposed Disparate Impact Rule Read More »

NCRC applauds FHFA’s proposed expansion of affordable housing goals, and a new goal specific for minority communities

By / / Press Releases / 2 minutes of reading

Today, the Federal Housing Finance Agency (FHFA) proposed 2022-2024 single-family and multifamily housing goals for the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac. In addition to proposing higher annual benchmarks in some categories, the agency proposes new single-family subgoals focused on communities of color and that respond to concerns about displacement in low-income communities.

NCRC applauds FHFA’s proposed expansion of affordable housing goals, and a new goal specific for minority communities Read More »

NCRC applauds HUD, FHFA plan to strengthen enforcement of the Fair Housing Act, and inclusion of rental payment data for mortgage risk assessments at Fannie Mae

By / / Press Releases / 3 minutes of reading

This is a bold and promising move to align and combine forces at agencies that should work together to end housing and lending discrimination and, importantly, to ensure their policies expand access to affordable homeownership for more borrowers and communities of color.

NCRC applauds HUD, FHFA plan to strengthen enforcement of the Fair Housing Act, and inclusion of rental payment data for mortgage risk assessments at Fannie Mae Read More »

New Report: Massachusetts offers a model for expanding federal Community Reinvestment Act to independent mortgage companies

By / / Press Releases / 3 minutes of reading

A new report from the National Community Reinvestment Coalition found success with a statewide Community Reinvestment Act applied to mortgage lenders in Massachusetts, and a model for establishing a similar policy nationwide to require nonbank mortgage lenders to serve qualified lower-income borrowers.

New Report: Massachusetts offers a model for expanding federal Community Reinvestment Act to independent mortgage companies Read More »

NCRC applauds Administration’s Announced Move to Rescind Disastrous Trump-era CRA Rule Changes

By / / Press Releases / 4 minutes of reading

Today, the Office of the Comptroller of the Currency (OCC) announced it will propose to rescind its controversial Trump-era rules weakening the Community Reinvestment Act (CRA) and work with other banking regulators to adopt a clear, strong and consistent update to the CRA.

NCRC applauds Administration’s Announced Move to Rescind Disastrous Trump-era CRA Rule Changes Read More »

National Community Reinvestment Coalition, Equivico by NCRC, and the Stavros Niarchos Foundation (SNF) Announce Recipients of Inaugural Small Business Grant Program

By / / Press Releases / 4 minutes of reading

The program awarded $1.3 million to 65 small businesses through grants of up to $20,000 each that do not need to be repaid to fund projects that will help businesses across the U.S. pivot, drive innovation, and grow in a challenging economic landscape. 

National Community Reinvestment Coalition, Equivico by NCRC, and the Stavros Niarchos Foundation (SNF) Announce Recipients of Inaugural Small Business Grant Program Read More »

NCRC, Fintechs call on CFPB to clarify applying fair lending rules to artificial intelligence

By / / Press Releases / 7 minutes of reading

A June 29, 2021, joint letter from NCRC, Affirm (NASDAQ: AFRM), Lending Club (NYSE: LC), Oportun (NASDAQ: OPRT), PayPal Holdings Inc (NASDAQ: PYPL), Square (NYSE: SQ) and Varo Bank, asked the CFPB to update its guidance on disparate impact to reinforce the Equal Credit Opportunity Act (ECOA) and Regulation B

NCRC, Fintechs call on CFPB to clarify applying fair lending rules to artificial intelligence Read More »

NCRC applauds HUD’s reinstatement of critical fair housing rule

By / / Press Releases / 2 minutes of reading

Today, the Department of Housing and Urban Development (HUD) published a rule reinstating its Discriminatory Effects Standard, which ensures that housing practices that appear neutral in their design do not create or perpetuate discrimination on the basis of race, ethnicity, religion and other groups protected under the Fair Housing Act.

NCRC applauds HUD’s reinstatement of critical fair housing rule Read More »

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