June 8, 2018 Senator Sanders, members of the Committee, my name is Stella Adams, and I serve as the Chief of Equity and Inclusion for the National Community Reinvestment Coalition, more commonly known as NCRC. NCRC creates, implements, and supports long-term solutions and strategies that build community and promote individual economic well-being. The programs of […]
(Download PDF) June 13, 2018 Dear Chairman McWilliams, Comptroller Otting, and Chairman Powell: Since 1977, the Community Reinvestment Act (CRA) has driven inclusion and equity in the financial markets. The act compels banks to serve the credit needs of their communities. It became an indispensable tool for historically marginalized communities excluded from the financial mainstream. […]
Docket No. CFPB-2018-0004 Effectiveness and Efficiency of Supervision Program To Whom it May Concern: The National Community Reinvestment Coalition (NCRC), a coalition of more than 600 community-based organizations, urges the CFPB to make the fair lending review process more transparent and to better facilitate community group input in the process. This letter represents the views […]
Reforming CRA must not become a pretext for relaxing CRA. The focus of these principles are areas we expect the federal bank agencies to consider in reforming CRA.
The undersigned civil rights, fair housing, consumer, and community organizations write to highlight our strong concerns with Section 104 of S. 2155, “the Home Mortgage Disclosure Act Adjustment and Study”. The tiered reporting proposed in Section 104 for banks and credit unions would undermine efforts to ensure that the nation’s mortgage lenders are serving all segments of the market fairly. The provisions would exempt 85% of depositories from the updated reporting required by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank).
The undersigned civil rights, fair housing, consumer, and community organizations write to highlight our strong concerns with Section 104 of S. 2155, “the Home Mortgage Disclosure Act Adjustment and Study”. The tiered reporting proposed in Section 104 for banks and credit unions would undermine efforts to ensure that the nation’s mortgage lenders are serving all segments of the market fairly. The provisions would exempt 85% of depositories from the updated reporting required by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank).
The Department of Treasury released its long anticipated memorandum recommending changes and updates to the Community Reinvestment Act (CRA) in early April. Spring is a season of renewal and CRA is a law that indeed needs refreshing and updating. Passed in 1977, it imposes an affirmative obligation on banks to serve the needs of local communities. The statute directs federal bank agencies to examine and rate banks on their lending and service in low- and moderate-income communities.
The undersigned civil rights, fair housing, consumer, and community organizations write to highlight our strong concerns with Section 104 of S. 2155, “the Home Mortgage Disclosure Act Adjustment and Study”. The tiered reporting proposed in Section 104 for banks and credit unions would undermine efforts to ensure that the nation’s mortgage lenders are serving all segments of the market fairly. The provisions would exempt 85% of depositories from the updated reporting required by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank).
Statement for the record from John Taylor, president and CEO, of the National Community Reinvestment Coalition to the House Financial Services Subcommittee on House Financial Services Committee, Subcommittee on Financial Institutions and Consumer Credit January 30, 2018 Chairman Luetkemeyer, Ranking Member Clay, and Distinguished members of the Subcommittee: The National Community Reinvestment Coalition (NCRC) appreciates […]
The Honorable Steven T. Mnuchin Secretary of the Treasury Department of the Treasury 1500 Pennsylvania Ave NW Washington DC, 20220 Click here for a summary of the letter. Dear Secretary Mnuchin, In February of 2017, President Trump issued an executive order mandating that federal agencies regulate the financial industry consistent with core principles including […]
