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Testimony & Regulatory Comments

Testimony and comments from NCRC about pending legislation and regulatory issues.

NCRC Comment on Formative Application to OCC

(Download) September 23rd, 2020 John O’Brien Licensing Manager Office of the Comptroller of the Currency Central District 425 S. Financial Place, Suite 1700 Chicago, IL 60605 CE.Licensing@occ.treas.gov RE: Formative Bank, N.A. Interagency Charter and Federal Deposit Insurance Application Dear Mr. O’Brien: The National Community Reinvestment Coalition, joined by the National Consumer Law Center (on behalf […]

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Joint Comment: Final Qualified Mortgage (QM) Rule Must Effectively Protect Consumers and Promote Access to Responsible Mortgage Credit

(Download) Thank you for the opportunity to comment on the Consumer Financial Protection Bureau’s (CFPB’s) qualified mortgage (QM) proposed rule. Given CFPB’s decision to end the GSE patch, we believe that a price-based approach is an appropriate and effective method to determine QM status. However, additional safeguards are necessary to ensure that the final rule

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The OCC “True Lender” rule will allow lenders to evade state consumer protections

September 3rd, 2020 National Community Reinvestment Coalition 740 15th St. NW Washington, DC 20005  Brian Brooks Acting Comptroller of the Currency 400 7th St SW Washington, DC 20219 Re: Comments on Proposal “National Banks and Federal Savings Associations as Lenders” Docket ID: OCC-2020-0026 RIN 1557-AE97 Honorable Acting Comptroller Brooks: The undersigned respectfully submit this comment

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NCRC Opposes National Banks and Federal Savings Associations as Lenders

September 3rd, 2020 The National Community Reinvestment Coalition 740 15th St. NW Washington, DC 20005 Brian Brooks Acting Comptroller of the Currency 400 7th St SW Washington, DC 20219 Re: Comments on Proposal “National Banks and Federal Savings Associations as Lenders” Docket ID: OCC-2020-0026 RIN 1557-AE97 Dear Mr. Brooks: We strongly oppose the Office of

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GSE Capital Rule Comment Sign-on Letter

Comment to the Federal Housing Finance Agency on Enterprise Regulatory Capital Framework Thank you for the opportunity to comment on the Federal Housing Finance Agency’s (FHFA’s) re-proposed rule on capital requirements for Fannie Mae and Freddie Mac (the governmentsponsored enterprises, or GSEs). In our view, the proposed rule erroneously treats the GSEs as banks and

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NCRC Comment on SoFi’s Charter Application

August 12, 2020 RE: NCRC Comment Letter on SoFi Charter Application To Whom it May Concern: The National Community Reinvestment Coalition (NCRC) and 41 community organizations co-signing this letter maintain that Social Finance, Inc.’s (SoFi’s) application for a bank charter has not demonstrated a significant commitment to meeting the convenience and needs of the community

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FHFA Re-Proposed Capital Rule for the Enterprises Sign-on Letter

August 10, 2020 The Honorable Mark Calabria Director Federal Housing Finance Agency 400 7th Street, SW Washington, D.C. 20219 Hugh Frater CEO Fannie Mae Midtown Center 1100 15th Street, NW Washington, DC 20005 David Brickman CEO Freddie Mac 1551 Park Run Drive Mclean, VA 22102 Dear Director Calabria, Executives Frater and Brickman: We are writing

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NCRC joins with over 50 groups in support of mortgage relief in next covid-19 relief package

July 28, 2020  Majority Leader Mitch McConnell United States Senate Washington, DC 20510  Minority Leader Chuck Schumer United States Senate Washington, DC 20510  Chairman Mike Crapo Senate Committee on Banking, Housing and Urban Development Washington, DC 20510  Ranking Member Sherrod Brown Senate Committee on Banking, Housing and Urban Development Washington, DC 20510  Re: Support for

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FHA and FHFA Forbearance Letter

[download id=”76746″ template=”FHA FHFA Forbearance Letter”] The Honorable Ben Carson Secretary U.S. Department of Housing and Urban Development 451 7th Street, SW Washington, D.C. 20210 The Honorable Mark Calabria Director Federal Housing Finance Agency 400 7th Street, SW Washington, D.C. 20219 Dear Secretary Carson and Director Calabria: We are writing to express our deep concern

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Sign On Letter in Support of H.J. Res. 90 to Overturn the CRA Rule

Sign On Letter in Support of H.J. Res. 90 to Overturn the CRA Rule U.S. House of Representatives U.S. Capitol Washington, DC 20515 Dear Representative: On behalf of the undersigned organizations, we are writing to urge you to cosponsor and support H.J.Res. 90, a disapproval resolution that would overturn a poorly constructed rule change on

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Analysis of the OCC’s Final CRA Rule

The Office of the Comptroller of the Currency (OCC) released their Community Reinvestment Act (CRA) final rule on May 20. It will lessen the public accountability of banks to their communities by enacting performance measures on CRA exams that will be complex and opaque, while at the same time over-simplifying how to measure a bank’s

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NCRC Comment on the CFPB’s Request for Information to Assist the Taskforce on Federal Consumer Financial Law

(Download) June 1, 2020 Comment Intake Bureau of Consumer Financial Protection 1700 G Street NW Washington, D.C. 20552 Re:       Docket No. CFPB-2020-0013 85 FR 18214 Request for Information to Assist the Taskforce on Federal Consumer Financial Law Dear Chief of Staff Weber: The National Community Reinvestment Coalition (NCRC) would like to respond to the

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Comment on Proposed Rule: Parent Companies of Industrial Loan Companies, RIN 3064-AF31

(Download) May 26, 2020 RE: Comment on Proposed Rule: Parent Companies of Industrial Loan Companies, RIN 3064-AF31 To Whom it May Concern: The National Community Reinvestment Coalition (NCRC), a coalition of 600 community-based organizations dedicated to increasing access to capital and credit for traditionally underserved communities, opposes the FDIC’s proposal to codify the procedures for

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Over 130 groups support more funding for housing counseling

Dear Senate Leadership and Senate Appropriators: The National Community Reinvestment Coalition (NCRC) and the undersigned organizations are writing to urge the Senate to support housing counseling provisions included in H.R. 6800, the HEREOS Act, recently passed by the House.  Housing counseling agencies have played an essential role following the nation’s housing crisis and numerous natural disasters since then.  Congress

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