Press Releases

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NCRC urges CFPB to move forward with critical small business lending transparency effort

By / / Press Releases / 3 minutes of reading

Yesterday, the National Community Reinvestment Coalition (NCRC) and 49 other community organizations responded to a Consumer Financial Protection Bureau (CFPB) proposal to move forward with a ten-year old requirement to collect application and approval data on loans made to small businesses — an important first step to preventing discrimination in loans made to woman-owned businesses and businesses owned by people of color.

NCRC urges CFPB to move forward with critical small business lending transparency effort Read More »

NCRC statement on OCC’s Proposed CRA Thresholds

By / / Press Releases / 2 minutes of reading

Yesterday, the Office of the Comptroller of the Currency (OCC) released a proposed rule for establishing the Community Reinvestment Act (CRA) evaluation measure thresholds, retail lending distribution test thresholds, and community development minimums under the general performance standards set forth in the agency’s 2020 final rule.

NCRC statement on OCC’s Proposed CRA Thresholds Read More »

OCC announces final rule to amend licensing procedures

By / / Press Releases / 2 minutes of reading

Monday, the Office of the Comptroller of Currency (OCC) published a final rule amending its licensing and merger procedures that will make it more difficult for community groups to comment on bank merger applications.  Jesse Van Tol, CEO of the National Community Reinvestment Coalition, made the following statement: “It appears the OCC is doubling down

OCC announces final rule to amend licensing procedures Read More »

OCC grants preliminary charter application for Social Finance, Inc., despite opposition

By / / Press Releases / 2 minutes of reading

On Tuesday, the Office of the Comptroller of the Currency (OCC) granted a conditional approval to Social Finance, Inc. to create a nationally chartered bank called SoFi Bank despite opposition from national community groups, including the National Community Reinvestment Coalition (NCRC). 

OCC grants preliminary charter application for Social Finance, Inc., despite opposition Read More »

OCC’s new True Lender rule opens the door to more abusive lending

By / / Press Releases / 3 minutes of reading

In a final rule issued Tuesday, the Office of the Comptroller of the Currency sanctioned high-cost lending arrangements between state-licensed non-banks and national banks. As a result, payday lenders and others charging triple-digit interest rates will be able to conduct business in states where high-cost lending is prohibited by state law.

OCC’s new True Lender rule opens the door to more abusive lending Read More »

Study: After the coronavirus shutdowns, employment levels rebounded completely for White entrepreneurs in North Carolina, but not for Black ones

By / / Press Releases / 3 minutes of reading

Although active employment rates in North Carolina’s small businesses dropped broadly during the first six months of the COVID-19 pandemic, by the end of August the rate had returned to pre-COVID levels for White entrepreneurs, but was still down by 62% for Black business owners, a new study shows. The study, from the National Community

Study: After the coronavirus shutdowns, employment levels rebounded completely for White entrepreneurs in North Carolina, but not for Black ones Read More »

NCRC applauds preliminary injunction to postpone effective date of HUD’s disparate impact Rule

By / / Press Releases / 2 minutes of reading

Today, the United States District Court of Massachusetts found in favor of the Massachusetts Fair Housing Center and Housing Works, Inc. and issued a preliminary injunction to postpone the start date of the U.S. Department of Housing and Urban Development’s (HUD) new disparate impact rule, which had been finalized by the agency in September.

NCRC applauds preliminary injunction to postpone effective date of HUD’s disparate impact Rule Read More »

NCRC disappointed by Senate vote against CRA resolution

By / / Press Releases / 2 minutes of reading

Today, the Senate failed to pass H.R. Res 90, which would have overturned new rules on the Community Reinvestment Act (CRA) finalized by the Office of the Comptroller of the Currency (OCC) in May. On a party line vote, Senate Democrats voted in support of the resolution that would nullify the OCC’s weakening of CRA rules, while Senate Republicans voted to keep them in place.

NCRC disappointed by Senate vote against CRA resolution Read More »

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