Posts about NCRC research.
In a confusing and scary time, the CFPB is a source for unbiased and informed information on a variety of financial hurdles that families can expect to face in the coming months.
CFPB Provides Advice, Guidance on COVID-19 Resources Read More »
We already know that Black and Hispanic-owned small businesses are severely under- represented in communities, and the COVID-19 pandemic will likely damage these businesses especially hard. In a report that should surprise no one, researchers with the JPMorgan Chase Institute found that businesses located in Black and Hispanic communities are less likely to have the cash
COVID-19 Hits Black and Hispanic Businesses Hardest of All Read More »
Executive Summary The proposed changes to the Community Reinvestment Act (CRA) released by the Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC) would radically reconfigure the testing criteria for banks. A new testing regime would assess low- and moderate-income (LMI) home mortgage and small business lending with a demographic comparison
The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) have proposed changes that would dramatically alter the Community Reinvestment Act (CRA) examination of banks. Their proposal would create a metric, called the CRA evaluation measure, that would be the dominant measure for determining a bank’s rating. As long as a
Download Infographic Defining African American Though a term that has personal meanings and different connotations for many, “African American” is defined by the U.S. Census as “a person having origins in any of the Black racial groups of Africa,” and used synonymously with the simple term “Black.” These African roots can be found in an array
Racial Wealth Snapshot: African Americans and the Racial Wealth Divide Read More »
Nearly $3 trillion in home and small business loans from banks went to low- and moderate-income (LMI) borrowers and communities over the last decade. Proposed changes to the Community Reinvestment Act (CRA), which requires banks to make loans in all of the communities where they take deposits, including poor ones, could significantly decrease this lending,
Proposed Changes to CRA Puts Billions in Lending at Risk Each Year Read More »
NCRC analysis of OCC & FDIC proposal indicates credit card lenders may have reduced incentive to make community development investments. The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) recently proposed a rulemaking (NPRM) that would radically change the manner in which retail lending, consumer lending and community development (CD) activities
NCRC Research Memo – Impact of Proposed Rule-Making on Major Credit-Card Lending Banks Read More »
(Download) Introduction Under the Community Reinvestment Act (CRA) regulations, CRA examiners evaluate a bank’s record of responding to credit and banking needs in local communities in which it has branches. These areas are referred to as assessment areas (AAs). Over the years, industry stakeholders have sought to engage in community development financing in geographical areas
Under the proposed Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation’s (FDIC) regulatory changes to the Community Reinvestment Act (CRA), financing to improve stadiums located in low- and moderate-income (LMI) areas that are designated Opportunity Zones (OZ) would be credited to a bank, improving their CRA ratings. NCRC examined the
CRA reform proposals would count sports stadiums as community development! Read More »
The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) are proposing regulatory changes to the Community Reinvestment Act (CRA) that make it easier for banks to get an “Outstanding” rating while underserving people and communities with low- and moderate-incomes (LMI) that it was meant to help. Under the
(Download) Introduction The Community Reinvestment Act (CRA) is an income-based law. Accordingly, the regulations and exams focus on evaluating bank lending, investing and services to low- and moderate-income (LMI) borrowers and tracts. However, one of the major motivations prompting the passage of CRA in 1977 was reversing redlining and disinvestment from minority as well as
Adding Underserved Census Tracts as Criterion on CRA exams Read More »
Introduction Fintech, or “financial technology,” is an industry on the rise to assist in personal financial management and documentation in order to increase monetary security and reduce fraud and exploitation. The fintech industry utilizes specialized software and algorithms on electronic devices, such as computers and mobile phones, to detect unusual spending activity. This fairly new
ISSUE BRIEF: FinTech and Older Adults Read More »
Native Americans and the Racial Wealth Divide The United States has too often hindered Native American advancement, not advanced it. Through years of intentional governmental policies that removed lands and resources, American Indians have been separated from the wealth and assets that was rightfully theirs. Thus Native Americans, which refers to people from any of the
Racial Wealth Snapshot: American Indians/ Native Americans Read More »
As National Hispanic Heritage Month comes to a close, the National Community Reinvestment Coalition (NCRC) developed a Latino Racial Wealth Snapshot to reflect on the diversity, culture and socioeconomic challenges facing the nation’s largest ethnic group of color. With a total of 58.8 million (foreign-born: 36%; native-born: 62%), the Latino community ranks at 18.1% of the U.S.
Latinos, the Racial Wealth Divide and Rebuilding the American Middle Class Read More »
Defining Hispanic and Latino In census data, Hispanic is the term most often used to describe the ethnicity of the people in the United States from Spanish speaking countries. However, it is most often thought of as a person from or has ancestry in Latin America, excluding people from Spain. The term Latino, shorthand for
Racial Wealth Snapshot: Latino Americans Read More »
