Letter to Federal Reserve on Capital One Acquisition
Download NCRC’s August 16, 2011 letter to the Federal Reserve
Testimony & Regulatory Comments
Testimony and comments from NCRC about pending legislation and regulatory issues.
NCRC Request to Bernanke to Hold Public Hearings on Capital One Deal
July 25, 2011 — NCRC head John Taylor wrote Federal Reserve Board Chairman Ben Bernanke to request that the Federal Reserve hold public hearings in five cities and extend the comment period on the Capital One acquisition of ING Direct USA, citing serious and pervasive concerns about the deal. Download the Letter
President Obama on HR 3808
President Obama Letter on HR 3808 (PDF)
David Berenbaum Testimony before the U.S. Commission on Civil Rights – Sept 16, 2010
David Berenbaum testimony/us commssn civil rights dc advisory 9.16.10
NCRC Files Comments to Treasury Regarding Reform of GSEs
This week, NCRC filed comments to the US Department of Treasury and US Department of Housing and Urban Development regarding the future of the Government Sponsored Enterprises (GSEs), the regulation of the housing finance system, and the role of government in the finance system. Click here to download the Comments as a PDF
NCRC Files Comments at Joint Public Hearing on CRA (July 19, 2010)
Community Reinvestment Act (CRA) Interagency Joint Public Hearing
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“Responsible CRA-related lending and investing has been vital for low- and moderate-income communities. Over the 13-year time period from 1996 through 2008, CRA small business and community development lending has totaled more than $1 trillion for America’s low- and moderate-income neighborhoods.” ~Josh Silver, Vice President, Research & Policy
Click here to download a PDF of the full comments.
Click here to download a PDF of the press release.
John Taylor testifies on CRA before House Financial Services Committee
The current foreclosure and economic crisis was caused in significant part by unregulated and risky lending. The federal government has obligated $23 trillion in rescuing the financial industry. Two major rationales motivated Congress to enact CRA in 1977. First, Congress believed that all creditworthy borrowers needed to have access to financial services regardless of their income class. It was true in 1977 and still true today that few working class, blue collar citizens can pursue their American Dream or build businesses without fair access to the financial system. Second, banks must have an obligation to serve their communities in return for FDIC deposit insurance and the full faith and backing of the American taxpayer. Today, both rationales must be applied to the entire industry since government financial and institutional support rescued the financial industry from its recklessness. In addition, a broad application of CRA can safeguard the financial industry and return it to profitability by requiring safe and sound lending and investments in neighborhoods.
NCRC Testifies Before the House Oversight Committee, March 25, on foreclosure prevention
NCRC Testifies Before the House Oversight Committee, March 25, on foreclosure prevention
NCRC Testifies Before the Domestic Policy Subcommittee, February 25, on foreclosure prevention
NCRC testifies Before the Domestic Policy Subcommittee on Foreclosure Prevention
NCRC Testifies Before the House Financial Service Committee On the Housing Fairness Act of 2009
NCRC Testifies Before the House Financial Service Committee On the Housing Fairness Act of 2009
David Berenbaum, Chief Program Officer Testifies Before the House Financial Services Committee
David Berenbaum, NCRC’s Chief Program Officer, testifies before the U.S. House of Representatives House Financial Services Committee, on the subject of the Housing Fairness Act of 2009. Click here to read the full testimony.
NCRC Testimony: Unregulated Markets-How will Regulatory Reform Shine Light in the Financial Sector?
Click here to read the testimony (.pdf)
NCRC Testimony: The Silent Depression: How are Minorities Faring in the Economy
Click here to read the testimony (.pdf)
NCRC Testimony: the Mortgage Reform and Anti-Predatory Lending Act of 2009
HR 1728, the Mortgage Reform and Antipredatory Lending Act Click here to read NCRC’s analysis of HR 1728