For interviews and other media requests, contact:
Alan Pyke, Communications Director
media@ncrc.org • (202) 524-4885
By using a different metric – loans per one thousand people – the National Community Reinvestment Coalition (NCRC) in a recent paper was able to identify smaller states and metropolitan areas that are underserved by traditional banks but are better served by branchless banks.
NCRC Recommends New Way to Establish CRA Assessment Areas for Branchless Banks Read More »
Today, the National Community Reinvestment Coalition (NCRC) announced a new $5 million grant program funded by Morgan Stanley to help its member organizations recover and rebuild from the coronavirus pandemic.
“Rohit Chopra will be a champion for fair lending and a renewed commitment to ending abusive practices in the financial market,” said NCRC CEO Jesse Van Tol.
The package represents a down payment for a just recovery that will prevent evictions, protect small businesses and provide additional direct payments to millions of families facing continued financial distress as a result of this global pandemic and economic crisis. The package also provides additional funding for Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs), lenders who can put capital to work in low-income communities and communities of color when and where they need it most.
This week, the Federal Deposit Insurance Corporation (FDIC) announced a final rule on industrial banks and industrial loan companies (ILCs), allowing nonbank parent companies to apply for and receive ILC charters, enabling these lenders to make loans across the country with narrow and insufficient community reinvestment obligations.
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 »
There was a 5.13% loss of bank branches across the United States from 2017 through the third quarter of 2020, a new analysis found.
Bank branch closures continue at alarming pace Read More »
The government’s flawed COVID relief program underscored the need for equity in small business financing, and for stronger enforcement of fair lending laws.
PPP data shows loans flowed mostly to businesses in wealthy White communities Read More »
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 »
Latino borrowers paid substantially higher closing costs and interest rates for home purchase loans compared to non-Hispanic White borrowers, according to a new report from the National Community Reinvestment Coalition (NCRC) and UnidosUS.
Home lending data reveals discrepancies in Latino mortgage lending Read More »
On Wednesday, the Federal Housing Finance Agency (FHFA) released a final Capital rule for the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. The rule requires the GSEs to maintain tier 1 capital in excess of 4%.
NCRC statement on FHFA final rule for Enterprise (GSEs) Regulatory Capital Framework Read More »
online pharmacy order neurontin online with best prices today in the USA 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
OCC announces final rule to amend licensing procedures Read More »
Despite published evidence and widespread media coverage of discrimination in the Paycheck Protection Program (PPP) bank loan application process, a second round of tests over the summer showed discrimination continued.
More tests and more signs of discrimination in PPP lending by banks Read More »
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 »
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 »
