The National Community Reinstatement Coalition (NCRC), the California Reinvestment Coalition (CRC) and legal oversight group Democracy Forward announced today they intend to sue the Office of the Comptroller of the Currency (OCC) for unlawfully gutting the Community Reinvestment Act (CRA).
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The Office of the Comptroller of the Currency (OCC) announced long-anticipated changes to rules that enforce the Community Reinvestment Act (CRA). The Federal Deposit Insurance Corporation (FDIC) had previously joined the OCC in the rule-making effort, but it did not join in the final rule released today.
NCRC’s new report, Mortgages and Older Adults After COVID-19, used this new information to highlight trends in homebuying, aging in place and use of home equity.
Members of the Senate Banking Committee today questioned why, in the middle of the COVID-19 crisis, bank regulators are moving forward with proposed changes to the Community Reinvestment Act (CRA) that would cripple COVID-19 recovery efforts in low- and moderate-income communities and communities of color.
On Tuesday, May 12, 2020, the Senate Committee on Banking, Housing and Urban Affairs is scheduled to conduct a virtual hearing on the oversight of financial regulators, with testimony from Office of the Comptroller of Currency’s (OCC) Comptroller Joseph Otting and Federal Deposit Insurance Corporation Chairman Jelena McWilliams.
Today, the House of Representatives joined the Senate and passed a $484 billion emergency relief bill, including a $321 billion infusion for the Paycheck Protection Program, the small business rescue fund that ran out of money last week.
Even as the Trump Administration and Congress take important but limited steps in a fourth stimulus bill to replenish funding for the Payroll Protection Program, much more must be on the table in the coming weeks for U.S. households, including homeowners, renters and the nation’s smallest enterprises, to not only prop up the U.S. economy but to ensure a reasonable economic recovery.
Yesterday, the Senate passed a second Payment Protection Program (PPP) bill that will provide an additional $484 billion for small business aid, hospital funding and more testing for COVID-19.
Funding for the Payment Protection Program (PPP), the federal government’s COVID-19 forgivable loan program for small businesses, ran out last Thursday, even earlier than predicted.
Today, the Consumer Financial Protection Bureau (CFPB) finalized data reporting thresholds under the Home Mortgage Disclosure Act (HMDA) for the nation’s financial institutions.
Administration Filed Log on the Last Day of the CRA Comment Period, Continues to Withhold Key Details and Substance of Communications from the Public. Democracy Forward, Community Development Orgs Call Out OCC’s Hollow Claims to Accountability, File Request for Full Records.
The National Community Reinvestment Coalition (NCRC) submitted two comment letters to the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Company (FDIC) on the agencies’ proposed rule changes to the Community Reinvestment Act (CRA).
The $2 trillion federal stimulus plan enacted late last month to help businesses and individuals impacted by the COVID-19 pandemic is already overwhelmed and falling short.
Missing Records Include Data and Analysis Cited in OCC and FDIC’s Plan, Which, if Adopted, Would Reduce Investment in Low- and Moderate-Income Communities
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