The National Community Reinvestment Coalition has been pivotal in providing the investment capital and knowledge to help Greenlining replace blighted buildings and spur homeownership and community development.
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Groups including the National Community Reinvestment Coalition, which promotes fairness in lending and housing, were scheduled to meet with representatives from the country’s largest mortgage lenders on Thursday, according to the coalition’s chief executive officer, Jesse Van Tol.
The letter from leading California-based and California-serving community organizations and leaders, joins similar calls for a freeze on CRA rulemaking by the National Community Reinvestment Coalition, National Community Economic Development Association, the President’s Council on Impact Investing, and industry groups, including the Independent Community Bankers of America (ICBA).
The National Community Reinvestment Coalition (NCRC), a national coalition of local community-based advocates, emphasizes that, “This grave pandemic demands a comprehensive and all-encompassing response. The health and wellbeing of our fellow citizens and residents are at stake.”
NCRC, Democracy Forward sue Trump administration for withholding data on proposed weakening of the CRA’s anti-redlining protections
“Every community group across the country has been affected in terms of their ability to comment on rulemaking,” said Jesse Van Tol, CEO of the National Community Reinvestment Coalition. “There are organizations out there that don’t have laptops — they use desktop computers that are pre-webcam, even pre-word processing.”
To press forward during a global pandemic is “beyond tone deaf,” Van Tol said.
Jesse Van Tol, CEO of the National Community Reinvestment Coalition (NCRC), and John Taylor, Founder and President of NCRC, made the following statements:
According to the National Community Reinvestment Coalition (NCRC), the proposed changes to the CRA regulations outlined in NPRM would weaken CRA and would decrease CRA-related lending, investing, and services to low- and moderate-income (LMI) households and communities.
In 2018, for instance, the National Community Reinvestment Coalition, a nonprofit organization that works with banks to increase the flow of private capital into poor and underserved communities, sent “mystery shoppers” to 32 different banks in Los Angeles. It found that potential borrowers with identical financial profiles were treated differently by bankers based on their race.
We, the one hundred undersigned organizations, demand that in the next coronavirus relief bill Washington, D.C., be made whole and receive the discretionary funding that was awarded to each state in the CARES Act.
The summaries, which lack detail and substance, were posted to the rulemaking docket after Democracy Forward, the National Community Reinvestment Coalition, and the California Reinvestment Coalition demanded that the administration disclose Comptroller Otting’s ex parte communications with nongovernmental stakeholders.
A 2019 study by the National Community Reinvestment Coalition (NCRC) found that D.C. had the largest percentage of gentrifying neighborhoods of any city in the U.S., a shift that displaced more than 20,000 Black residents between 2000 and 2013.
The proposed CRA changes would allow banks to dramatically reduce their mortgage lending to low- and middle-income (LMI) borrowers and still pass their CRA exams./2
From 2009 through 2018, banks in the Philadelphia area reported making $45 billion in mortgage loans and $8.7 billion in business loans in lower-income neighborhoods./3
The legislation is supported by the following organization: National Council of State Housing Agencies; Habitat for Humanity; National Housing Conference; National Community Reinvestment Coalition; National Association of Affordable Housing Lenders; National Leased Housing Association; Americans for Financial Reform; National Consumer Law Center and Center for Responsible Lending.
Reed’s bill is supported by a diverse coalition of housing advocates, including: National Council of State Housing Agencies; Habitat for Humanity; National Housing Conference; National Community Reinvestment Coalition; National Association of Affordable Housing Lenders; National Leased Housing Association; Americans for Financial Reform; National Consumer Law Center, on behalf of its low-income clients; Center for Responsible Lending; Rhode Island Housing; and the Rhode Island Association of Realtors.